Issue of Equity

RNS Number : 6779X

Fox Marble Holdings PLC

14 August 2018

 

14 Aug 2018

Fox Marble Holdings plc

("Fox Marble" or the "Company")

Issue of Equity

Fox Marble, the AIM listed company focused on marble quarrying and finishing in Kosovo and the Balkans region announces that it has issued 2,800,000 new ordinary shares in the Company ("New Ordinary Shares") at par value (1p) to a consultant and two employees of the Company in recognition of services provided to the Company and in lieu of cash payments.  Gross proceeds of this issue of equity amounts to £28,000. The issue of shares reflect the contributions made to the Company by these individuals, which has exceeded their compensation to date.

Name	Number of new ordinary shares
Dr Etrur Albani	2,500,000
Employees	300,000
Total	2,800,000

The New Ordinary Shares will rank pari passu with the existing ordinary shares.  Admission to AIM of the New Ordinary Shares will occur on or around 17 August 2018.

Chris Gilbert, CEO, commented: "This issue of equity recognises the contribution that these members of the Fox Marble team have made, and continue to make toward the development of the Company. I am very grateful to them for their efforts in driving the Company forward and their achievements - of which we are now starting to see the benefits."

Total Voting Rights

In accordance with Rule 5.6.1 of the Disclosure Rules and Transparency Rules of the Financial Services Authority ("DTRs"), the Company's issued share capital at 17 August will consist of 217,885,322 ordinary shares of 1 pence each. The Company does not hold any ordinary shares in treasury. Therefore the total number of voting rights in the Company is 217,885,322.

The above figure of 217,885,322 may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the DTRs.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 and has been arranged for release by Fiona Hadfield, Finance Director of the Company.

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 (Broker)
Oliver Stansfield	Tel: [phone]
Cairn Financial Advisers LLP (Nomad)
Liam Murray / Jo Turner	Tel: [phone]
Yellow Jersey PR (PR & IR)
Georgia Colkin Katie Bairsto	Tel: [phone] 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 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.

 

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