Sabien Technology Group PLC Management Change, Furlough Update (3853O)
29 Maggio 2020 - 12:15PM
UK Regulatory
TIDMSNT
RNS Number : 3853O
Sabien Technology Group PLC
29 May 2020
29 May 2020
Sabien Technology Group plc
("Sabien" or the "Company")
Management Change; furlough update
The Board of Sabien announces that David Bakst has resigned his
role as Managing Director (non-Board) of the Sabien operating
company and will leave the employment of the Company by mutual
agreement on 31 May 2020.
As the majority of Sabien staff are currently on Covid19
furlough, David's departure will have no immediate impact on
business operations. Pending a full return to normal working after
the current lockdown, Sabien Executive Chairman, Richard Parris,
will undertake the day-to-day management of the operating
business.
It is likely that the Company will continue to work with David
Bakst from time-to-time on special projects.
Regarding the 31st March 2020 announcement that the Company was
placing 85% of staff on furlough, the Company is pleased to report
it has live orders for the installation of 350 Sabien M2G units
from multiple customers. Some of these customers are indicating
that Sabien engineers can start to return to site to undertake
installations from early July. Subject to this site access being
granted, we anticipate a phased return to normal operations from
1(st) July. This will enable the Company to meet customer demand to
install purchased units before the start of the winter heating
season.
Richard Parris, Chairman said, "On behalf of the Board, I would
like to thank David for his significant contribution as a member of
the senior management team at Sabien over the last fourteen years".
I also thank Sabien staff for their forbearance during their
continuing furlough and I look forward to working with the team to
tackle a strong order backlog. Their support has helped prepare the
Company for a strong recovery post-pandemic."
For further information please contact:
For further information:
Sabien Technology Group plc
Richard Parris, Chairman
SPARK Advisory Partners Limited (Nominated +44 20 7993 3700
Adviser)
Neil Baldwin / Matt Davis +44 203 368 3500
Peterhouse Capital Limited (Broker)
Duncan Vasey/ Lucy Williams +44 207 469 0930
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END
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