Fox Marble Holdings PLC Completion of Order to Turkey (8269S)
28 June 2018 - 4:00PM
UK Regulatory
TIDMFOX
RNS Number : 8269S
Fox Marble Holdings PLC
28 June 2018
28 June 2018
Fox Marble Holdings plc
("Fox Marble" or the "Company")
Completion of Order to Turkey
Fox Marble, the AIM listed company focused on marble quarrying
and finishing in Kosovo and the Balkans region is pleased to
announce that it has completed the delivery of over 2,000 tonnes of
marble to Simsekler Mermer Company ("Simsekler").
In the current year, Fox Marble has supplied 850 tonnes of
marble to Simsekler, thereby fulfilling the original agreement for
2,000 tonnes, with Simsekler's latest purchase of over 600 tonnes
of block marble representing the largest single order that the
Company has completed since it opened its quarries in 2012. Fox
Marble is now well placed to meet the demand for an additional
minimum quantity of 2,000 tonnes over the course of 2018.
Simsekler owns nine marble quarries in Turkey, in addition to
three factories, two showrooms, and its warehouses located in both
Ankara and Istanbul. Fox Marble anticipates that Simsekler will
remain a significant customer for Fox Marble for the remainder of
2018 and beyond.
Chris Gilbert, CEO of Fox Marble, commented: "The completion of
this milestone underlines the progress that the Company has made in
its ability to identify, win and successfully complete large scale
sales agreements. Fox Marble looks forward to supplying further
material to Simsekler, and to establishing an ongoing commercial
relationship with the company."
Fox Marble intends to release a trading update at the end of
July.
For more information on Fox Marble please visit
www.foxmarble.net or contact:
Fox Marble Holdings plc
Chris Gilbert, Chief Executive Officer Tel: +44 (0) 20 7380
0999
Fiona Hadfield, Finance Director Tel: +44 (0) 20 7380
0999
Brandon Hill Capital (Broker)
Oliver Stansfield Tel: +44 (0) 20 3463
5000
Cairn Financial Advisers LLP (Nomad)
Liam Murray Tel: +44 (0) 20 7213
Jo Turner 0880
Yellow Jersey PR (PR & IR)
Georgia Colkin Tel: +44 (0) 7825
Katie Bairsto 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 Illirico Bianco, 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 residential
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 three
of the six sites into production (the Drini and Maleshevë quarries,
both in Kosovo and from the Prilep Quarry in Macedonia) 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 news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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