Sabien Technology Group PLC Sabien furloughs staff in response to C19 lockdown (1300I)
31 Marzo 2020 - 08:00AM
UK Regulatory
TIDMSNT
RNS Number : 1300I
Sabien Technology Group PLC
31 March 2020
31 March 2020
Sabien Technology Group plc
("Sabien" or the "Company")
Sabien Furloughs Staff in Response to Coronavirus Lockdown
Sabien announces today it has furloughed all non-essential staff
in response to the extraordinary circumstances relating to the
global coronavirus emergency. Following the national lockdown
announced last week, and the closure of most non-essential
industries, the Board has decided to take unprecedented action to
protect the Sabien business and the jobs of our staff from what may
be a prolonged period of commercial inactivity.
Increasingly, customers do not want third party contractors to
visit their sites and Sabien is not prepared to put its
installation engineers at risk by asking them to make non-essential
visits away from their homes. With reduced sales opportunities and
no installations possible, the Company has recognised that it must
take immediate action to protect the business from unprecedented
economic headwinds. Consequently, the Board has decided to
immediately suspend all non-essential functions for the duration of
the crisis.
Fortunately, the Government has announced the Coronavirus Job
Retention Scheme ('Scheme') which will fund the continued
employment and protect the jobs of our skilled workforce. After a
period of consultation, more than 85% of the Sabien workforce have
agreed to be furloughed with effect from 30 March 2020. The Company
will maintain a slimmed down sales and customer support function to
ensure we are ready to restart normal operations at the earliest
possible date. The Company will review the situation on a monthly
basis and may ask selected furloughed staff to return to the
business for special projects.
Executive Chairman, Richard Parris, said, "As a responsible
employer, the Sabien Board has moved quickly to protect the health
of our employees and their jobs. The expected slowdown in sales
will hopefully be offset by a corresponding reduction in the salary
bill leaving the Company in a strong position for a resurgence in
business once normal operations resume. The Board continues to have
confidence in the future of Sabien's M2G product line and we
believe our actions will protect shareholder value through
difficult market conditions.
In addition, work on the strategic transaction of
PtarmiganDestinations Holdings announced on 20 January 2020
continues unabated with a target completion date during Q2. The
Sabien Board notes Ptarmigan's involvement in the launch today of
doctorinthehouse.net . to help the fight against Coronavirus.
Sabien is keen to proceed and complete its reverse takeover of
Ptarmigan so all parties can benefit from the delivery of
additional virtual healthcare service at this time global domestic
lockdown".
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
A copy of this announcement will be available
from the Company's website at www.sabien-tech.co.uk
About Doctorinthehouse.net
Doctorinthehouse.net aims to offer free online consultations
about any health issues during the COVID outbreak, backed up by a
frontend AI tool, sophisticated scheduling and patient note
handover systems.
https://www.doctorinthehouse.net/
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END
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