Fox Marble Holdings PLC Dubai Office (0295K)
11 Décembre 2018 - 8:00AM
UK Regulatory
TIDMFOX
RNS Number : 0295K
Fox Marble Holdings PLC
11 December 2018
11 December 2018
Fox Marble Holdings plc
("Fox Marble" or the "Company")
Fox Marble, the AIM listed company focused on marble quarrying
and finishing in Kosovo and the Balkans region is pleased to
announce the establishment of an office in the United Arab Emirates
with the formation of Fox Marble FZC a company based in a free
trade zone area in Dubai and confirmation of the first orders via
this operation.
Deposits have been received for two orders of marble totalling
in excess of 1,000 square metres of Alexandrian white. The first
order is for 500 square metres of cut to size tiles currently being
processed in Fox Marble's factory in Kosovo and due to be shipped
within the next 10 days. The second order is for 450 square metres
of slabs of Alexandrian white marble and 50 square metres of slabs
in total comprising Illirico Selene, Grigio Argento, Rosso Cait,
Breccia Paradisea and Flora which are being shipped to a new
customer in Dubai prior to the end of the year.
Chris Gilbert, CEO, commented "Our new office in Dubai is
already proving to be effective in establishing our premium
material in the region from which orders are currently being
processed to large local customers. It is worth noting that the
first order is for an unusual size of tile - being 10cm x 10 cm x 2
cm whose small dimensions involves producing 50,000 pieces for this
one order, which thanks to our tile processing equipment we are
able to manage with ease.
We expect to see a significant level of business developing in
the region as a result, and look forward to updating the market
accordingly in the near future"
The information communicated in this announcement is inside
information for the purposes of Article 7 of 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: +44 (0) 20 7380
0999
Fiona Hadfield, Finance Director Tel: +44 (0) 20 7380
0999
Brandon Hill Capital (Broker)
Oliver Stansfield Tel: +44 (0) 20 3463
5000
Cairn Financial Advisers LLP (Nomad)
Liam Murray Tel: +44 (0) 20 7213
Jo Turner 0880
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.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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