AGM statement

RNS Number : 9133G

Fox Marble Holdings PLC

13 May 2014

 



AIM: FOX                                                                                                                             13 May 2014

Fox Marble Holdings plc

("Fox Marble" or the "Company")

AGM Statement

In advance of the Company's Annual General Meeting ("AGM") which is to be held today at 9am at Nabarro LLP, Lacon House, 84 Theobald Road, London, EC1 8RW, the Board of Fox Marble, the AIM listed Company focused on marble quarrying extraction and production in Kosovo and the Balkans region, is pleased to deliver the following update to shareholders.

"Since the year end, the Company has been working hard to establish itself as a supplier and distributor of premium marble.  The management team has continued to seek potential sales opportunities and also build on current UK and International relationships. This has led to further sales in the pipeline, which will be announced to the market once executed. As a result of the unexpected weather conditions and one quarry site being extended to acquire the premium quality resource, production has been set back and thus booked revenues will be more strongly second half weighted"

"As previously announced the construction of the processing plant in Kosovo has started. There have been some minor delays due to unseasonal adverse weather and the factory is now expected to be completed in Q3 2014."

"The Board is pleased with the progress made during the last financial year and believes 2014 will be a pivotal year in establishing Fox Marble in the market. We continue to be encouraged by current data that shows our marble to be of good quality and stronger than the average marble. This will further help with our marketing strategy."

"Once again, we would like to thank shareholders for their continued support of the business and the board looks forward to see the progress the Company will make in the coming year."

-ends-

For more information on Fox Marble please visit www.foxmarble.net  or contact:

Fox Marble Holdings plc
Chris Gilbert, Chief Executive Officer	Tel: [phone]
Fiona Hadfield, Chief Financial Officer
Fox Davies Capital Limited (Nominated Adviser and Broker)
Simon Leathers/ Jonathan Evans	Tel: [phone]
Yellow Jersey PR
Dominic Barretto/ Kelsey Traynor	Tel: [phone]

Notes to Editors

Fox Marble Holdings Plc is an AIM quoted natural stone extraction Company operating in Kosovo and the Balkans region, with headquarters in the United Kingdom.

The Company has been granted mining licenses in relation to six separate marble quarries and completed a maiden JORC resource indicating an in-situ valuation of approximately Euro 16.5 billion. Established in 2011, Fox Marble has access to over 300 million cubic metres of premium quality marble including white breccia and honey yellow onyx.

Fox Marble also has rights to extract grey marble from the Drini quarry and cream and white grey marble from the Malesheva quarry, both in Kosovo and white Sivec marble from the Prilep Quarry in Macedonia.

 

END

 

 

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