Corporate Update

RNS Number : 6627J

Fox Marble Holdings PLC

09 April 2015

 

AIM:FOX                                                                                                   9 April 2015

Fox Marble Holdings plc

("Fox Marble" or the "Company")

Corporate Update

Further sales to Berkeley Homes Plc

Order book stands in excess of €2 million for the year

Factory nears completion

Fox Marble, the AIM listed company focused on marble quarrying and finishing in Kosovo and the Balkans region, is pleased to announce to shareholders that it has received orders via Pisani and its offtake agreement with the Company from St George Plc, which is the prestige home division of Berkeley Homes Plc, for two different types of marble (white and grey) to be supplied to its Chelsea Creek development throughout the rest of 2015. This order has a total value of €570,000 of cut and polished slabs and is in addition to the previous orders for 900sqm of polished slabs of the Company's grey Argento Grigio marble, which was announced in January 2015 and has already been delivered to site.

The Company is also pleased to report that initial small scale orders for its red, Rosso Cait, marble have been received and fulfilled for customers in Egypt. The Company's order book now stands in excess of €2.8 million of which €2 million is expected to be realised in 2015. 

The factory building is nearing completion and requires a further 10 days of work with uninterrupted good weather in Pristina at which time equipment will start to be shipped from Italy for installation in the building.  The floor has been laid and work has commenced on completing the foundations for the gang saws and water channels.

Chris Gilbert, CEO, commented: "We are pleased to see that Berkeley Homes has extended its order with Fox Marble, which is a testament to the desirable, premium quality marble we provide. Our order book is improving for the year ahead and we hope to add to this.  

"The factory is finally nearing completion after adverse weather in Pristina which created unexpected delays. We look forward to updating shareholders with the final stages of construction."

-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
Cairn Financial Advisers LLP (Nomad) Avi Robinson / Liam Murray	Tel: [phone]
Brandon Hill Capital (Broker)
Oliver Stanfield (CEO)	Tel: [phone]
Yellow Jersey PR
Dominic Barretto Kelsey Traynor	Tel: [phone] Tel: [phone]

Notes to Editors

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

Established in 2011, Fox Marble has access to over 300 million cubic metres of premium quality marble and completed a maiden JORC resource indicating an in-situ valuation of approximately Euro 16.5 billion.  As announced in October 2013, it now has four quarries in operation and in August 2014 it completed the acquisition of the Prilep Omega Sivec Quarry, thus increasing its exposure to the highly desirable Sivec marble. 

 

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