**Summary**
Sabien Technology Group PLC (AIMSNT) announced a proposed strategic agreement (PSA) with City Oil Field, Inc. (COF) of South Korea, building on their existing memorandum of understanding (MOU) signed in May 2023. The PSA includes
1. **Equity Exchange**Sabien will acquire a 1.12% minority stake in COF for £600,000, paid via the issuance of 5,054,760 new Sabien shares. In return, COF will acquire a 15.87% stake in Sabien.
2. **Extended Sales Agreement**Sabien’s exclusive UK sales agency agreement with COF will be extended by 10 years and expanded to include international territories outside South Korea.
3. **Sustainable Oil Trade**Both parties will explore international trade opportunities for sustainable oil products from COF’s newly commissioned Regenerated Green Oil (RGO) plant in Jeongeup, South Korea, targeting the UK and EU markets.
The agreement is conditional on regulatory approvals, completion of COF’s foreign investment from Saudi Arabia’s PEDCO, and mandatory Korean government registrations. Sabien’s Executive Chairman, Richard Parris, expressed confidence in COF’s technology and its global potential to address plastic waste, aligning with Sabien’s sustainability goals.
Upon completion, Sabien’s total issued shares will increase to 31,848,245, with COF becoming a significant shareholder. The PSA aims to strengthen mutual success and position Sabien as a leader in scalable, sustainable solutions for global environmental challenges.