4 June 2024
(EPIC:
SRC / Market: AIM / Sector: Construction Materials)
SIGMAROC
PLC
('SigmaRoc',
the 'Group' or the
'Company')
Exercise of the
call option to
acquire CRH's Polish Lime operations
SigmaRoc, the Northern European
quoted lime and limestone group, is pleased to announce that the
Group has exercised the call option, entered into on 22
November 2023 (the 'Polish Call Option'),
and entered into a share purchase agreement to acquire the Polish
lime operations of CRH plc (the 'Polish Target' or the 'Deal 3
Target') for a deferred consideration of €100 million
(approximately £85 million). The purchase of the
Deal 3 Target is conditional, inter alia, on the Polish Purchaser
receiving Polish Competition Office Clearance ('PCOC'), for which
the Polish Purchaser will make the necessary filings with the
Polish Competition Office. Completion of the Deal 3
Acquisition is expected by the end of September
2024, subject to the PCOC.
As announced on 23 November 2023,
alongside the conditional acquisition of CRH's lime businesses in
Germany, Czech Republic and Ireland ('Deal 1 Targets'), the Company
entered into the call options which granted it the right to acquire
the UK Target ('Deal 2 Target'), as well as CRH's lime operations
in Poland (the Polish Target) at a future date. Following
completion of the acquisition of the Deal 1 Targets on 4 January
2024 and the completion of the acquisition of the Deal 2 Target on
27 March 2024, the Company has now exercised the Polish Call Option
and entered into the Polish SPA.
The Polish Target, CRH's Ovetill
Investments SP. Z o.o, includes CRH's lime and limestone flour
production, associated distribution network and assets in Poland.
Founded in 1910, the Polish Target has two lime production sites in
Kujawy and Sitkowka.
The Company is pleased with the
progress to date on the integration of the Deal 1
and Deal 2 Targets, being the German, Czech, Irish and UK entities,
and will provide a further update alongside its interim results for
the period ended 30 June 2024.
Defined terms used throughout this
announcement have the meanings set out in the admission document
published by the Company on 23 November 2023 unless the context
requires otherwise.
Information on the Company is
available on its website, www.sigmaroc.com.
For
further information, please contact:
|
SigmaRoc plc
Max Vermorken (Chief Executive
Officer)
Garth Palmer (Chief Financial
Officer)
Tom Jenkins (Head of Investor
Relations)
|
Tel: +44 (0) 207 002 1080
ir@sigmaroc.com
|
|
Liberum Capital (Nomad and Co-Broker)
Scott Mathieson / John More / Dru
Danford
Deutsche Numis (Co-Broker)
Richard Thomas / Hannah
Boros
|
Tel: +44 (0) 203 100 2000
Tel: +44 (0) 20 7260 1000
|
|
Walbrook PR Ltd (Public Relations)
Tom Cooper / Nick Rome
|
Tel: +44 20 7933 8780
sigmaroc@walbrookpr.com
Mob: +44 7971 221972
|
About SigmaRoc plc:
SigmaRoc is a quoted lime and
limestone group targeting quarried materials assets in the UK and
Northern Europe.
Lime and limestone are key resources
in the transition to a more sustainable economy. New applications
for lime and limestone products as part of a drive for
sustainability include the production and recycling of lithium
batteries, the decarbonisation of construction including through
substitution of cementitious material and new building materials,
and environmental applications including lake liming, air pollution
and direct air capture.
SigmaRoc seeks to create value by
purchasing assets in fragmented materials markets and extracting
efficiencies through active management and by forming the assets
into larger groups. It seeks to de- risk its investments through
the selection of projects with strong asset backing.