Contract Update

RNS Number : 6991M

Fox Marble Holdings PLC

13 May 2020

 

13 May 2020

 Fox Marble Holdings plc

("Fox Marble" or the "Company")

Contract Update

Fox Marble, the AIM listed company focused on marble quarrying and processing in Kosovo and the Balkans region is pleased to announce that it has commenced processing the contract announced on 14 April 2020 to supply up to 20,000 square metres of paving for Suhareka town square, Kosovo.  Fox Marble is now processing the paving slabs in order to supply its material in time for its customer to start the installation as soon as the current lockdown provisions in Kosovo are eased. 

The material for this contract will be supplied from Fox Marble's factory in Kosovo, with the first 8,000 square metres to be delivered by 30 September 2020.  The stone will be processed from existing blocks of Grigio Argento, Flora and Alexandrian white, already extracted and awaiting processing.  

Material already specified and contracted under the first two stages of the project has a total value in excess of €400,000 and, once all 20,000 square metres has been supplied, the project is expected to be worth in excess of €750,000.

Chris Gilbert, CEO, commented "This contract to supply a local municipality to pave a large open public space confirms Fox Marble's position as a leading provider of dimension stone within Kosovo and the Balkans wider region.  Our factory is able to proceed with this order as a designated industrial facility and we anticipate further similar sales in the near future."

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014

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, Finance Director	Tel: [phone]
Brandon Hill Capital (Joint Broker)
Oliver Stansfield Optiva Securities (Joint Broker) Christian Dennis/Jeremy King	Tel: [phone] Tel:[phone]
Cairn Financial Advisers LLP (Nomad)
Liam Murray Sandy Jamieson	Tel: [phone]

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 Alexandrian Blue, Alexandrian White, Breccia Paradisea, Etruscan gold and Grigio Argento and are gaining sales 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. 

Caution regarding forward looking statements

Certain statements in this announcement, are, or may be deemed to be, forward looking statements. Forward looking statements are identified by their use of terms and phrases such as ''believe'', ''could'', "should" ''envisage'', ''estimate'', ''intend'', ''may'', ''plan'', ''potentially'', "expect", ''will'' or the negative of those, variations or comparable expressions, including references to assumptions. These forward looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors.

 

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