Fox Marble Holdings PLC Receipt of Funds (1258D)
29 January 2018 - 6:00PM
UK Regulatory
TIDMFOX
RNS Number : 1258D
Fox Marble Holdings PLC
29 January 2018
Fox Marble Holdings plc
("Fox Marble" or the "Company")
Receipt of Funds and Issue of Shares
Fox Marble, the AIM listed company focused on marble quarrying
in Kosovo and the Balkans region is pleased to announce that it has
received the GBP2,000,000 due in respect of the Subscription Shares
as announced on the 19 January 2018.
Application will be made for admission of the 19,047,619
Subscription Shares to trading on AIM. The shares are expected to
be admitted to trading at 8:00am on 1 February 2018 and will rank
equally in all respects with the Company's existing ordinary
shares.
As previously announced in a circular dated 3 January 2018, it
is the Company's intention to use these funds to retire existing
debt of the Company and increase production at the quarries and
processing factory
Chris Gilbert, CEO of Fox Marble commented: "With the receipt of
these funds, the Company is now able to focus on increasing
production ahead of the reopening of the quarries, following the
winter shut down to meet the demand for its products from customers
developed across multiple territories. We look forward to
capitalising on new opportunities in a productive year ahead."
Total Voting Rights
In accordance with Rule 5.6.1 of the Disclosure Rules and
Transparency Rules of the Financial Services Authority ("DTRs"),
the Company's issued share capital at 1 February 2018 will consist
of 215,085,322 ordinary shares of 1 pence each. The Company does
not hold any ordinary shares in treasury. Therefore the total
number of voting rights in the Company is 215,085,322.
The above figure of 215,085,322 may be used by shareholders in
the Company as the denominator for the calculations by which they
will determine if they are required to notify their interest in, or
a change to their interest in, the share capital of the Company
under the DTRs.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014 and has been arranged for
release by Fiona Hadfield, Finance Director of the Company.
For more information on Fox Marble please visit
www.foxmarble.net or contact:
Fox Marble Holdings plc
Chris Gilbert, Chief Executive Tel: +44 (0)
Officer 20 7380 0999
Fiona Hadfield, Finance Director Tel: +44 (0)
20 7380 0999
Brandon Hill Capital (Joint
Broker)
Oliver Stansfield Tel: +44 (0)
20 3463 5000
Cairn Financial Advisers LLP
(Nomad)
Liam Murray / Sandy Jamieson Tel: +44 (0)
20 7213 0880
Beaufort Securities Limited
(Joint Broker)
Elliott Hance Tel: +44 (0)
207 382 8300
Yellow Jersey PR (PR & IR)
Georgia Colkin Tel: +44 (0)
Katie Bairsto 7825 916 715
Tel: +44 (0)
7946 424 651
Notes to Editors:
Fox Marble (AIM:FOX), is a marble production, processing and
distribution company in Kosovo and the Balkans region.
Its marble products, which includes Bianco Illirico, Illirico
Selene, Grigio Argento and are gaining traction globally both to
international wholesale companies as well as being supplied
directly into luxury residential properties. In the UK these
include among others St George's Homes and Capital and Counties
Plc's Lillie Square development. In Sydney, Australia Rosso Cait,
Alexandrian White and Breccia Paradisea marble have been used in
what is expected to be Australia's most expensive property. These
sales serve to demonstrate the desirability of Fox's premium marble
products as the stone of choice in some of the most prestigious and
expensive residential developments around the world.
Fox Marble holds 40 year mining licences for six separate marble
quarries with a maiden JORC resource indicating an in-situ
valuation of approximately Euro 16.5 billion. Fox has taken four of
the six sites into production and continues to increase production.
Notably, Fox has access to over 300 million cubic metres (over 1bn
tons) of premium quality marble.
Marble demand continues to grow with stable pricing,
predominantly driven by the construction and real-estate
industries, on which Fox is looking to capitalise.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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