Fox Marble Holdings PLC Placing to raise £2 million (8462M)

TIDMFOX

RNS Number : 8462M

Fox Marble Holdings PLC

12 May 2015

 
 AIM: FOX    12 May 2015

Fox Marble Holdings plc

("Fox Marble" or the "Company")

Placing to raise GBP2 million

Fox Marble, the AIM listed company focused on marble quarrying in Kosovo, announces that the Company has raised GBP2.0 million by way of a placing of 10,000,000 new ordinary shares ("Placing Shares") to new and existing investors at a price of 20 pence per share ("Placing") through Brandon Hill Capital.

Subject to negotiations, the net proceeds of the Placing will be applied to repay the outstanding convertible loan of GBP1.1 million with Amati Global that was entered into at the Company's IPO in August 2012. In addition, some of the proceeds will be used to procure additional equipment for the Company's processing facility in Kosovo, which is nearing completion. Finally, the Company is also looking to establish a joint venture in North America, which should further increase its penetration into the world's largest consumer of polished marble.

Application has been made to the London Stock Exchange to admit the Placing Shares to trading on AIM and admission is expected to occur on 15 May 2015. The Placing Shares will rank pari passu with the Company's existing ordinary shares.

Following the issue of the Placing Shares, the enlarged issued share capital of the Company will comprise 159,848,266 ordinary shares of 1 penny each. The above figure may be used by shareholders 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 Company, under the Disclosure and Transparency Rules.

 
 Fox Marble Holdings 
  plc 
 Chris Gilbert, Chief       Tel: +44 (0) 20 7380 
  Executive Officer          0999 
 Fiona Hadfield, Chief 
  Financial Officer 
 
 Cairn Financial Advisers   Tel: +44 (0) 20 7148 
  LLP (Nomad)                7900 
  Avi Robinson / Liam 
  Murray 
 
 Brandon Hill Capital 
  (Broker) 
 Oliver Stansfield (CEO)    Tel: +44 (0) 20 3463 
                             5000 
 Jonathan Evans 
 Yellow Jersey PR 
 Dominic Barretto           Tel: +44 (0) 77 6853 
  Kelsey Traynor             7739 
                             Tel: +44 (0) 77 9900 
                             3220

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.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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