TIDMFOX
RNS Number : 5443X
Fox Marble Holdings PLC
19 December 2019
19 December 2019
Fox Marble Holdings plc
("Fox Marble" or the "Company")
Issue of shares and directors' dealings
Fox Marble, the AIM listed company focused on marble quarrying
and finishing in Kosovo and the Balkans region announces that it
has issued in aggregate 31,509,439 new ordinary shares at a price
of 2.65 pence per share in relation to a placing (the "Placing")
and settlement of director fees ("Directors Fee Shares").
Placing
The Company has raised gross proceeds of GBP775,000 through the
Placing of 29,245,287 new ordinary shares at a price of 2.65 pence
per share. The Placing proceeds will be used to fund capital
equipment and working capital at the Fox Marble quarry site in
Macedonia to expand production capabilities to supply increased
demand for material in 2020.
Chris Gilbert and Roy Harrison, both directors of the Company
(and therefore deemed to be related parties pursuant to the AIM
Rules), are participating in this Placing and are respectively
subscribing for 1,886,793 and 3,773,585 new ordinary shares.
Further details of which are set out below.
Andy Muir, who, prior to the Placing, has an interest over
25,474,924 ordinary shares (11.02%) is a substantial shareholder in
the Company and is therefore also deemed to be a related party
pursuant to the AIM Rules. Andrew Muir is subscribing for 2,830,189
shares in the Placing.
The directors independent of the Placing consider, having
consulted with the Company's nominated adviser that the terms of
the Placing are fair and reasonable insofar as shareholders are
concerned.
Director Fee Shares
Furthermore each of Andrew Allner, Sir Colin Terry and Roy
Harrison OBE (directors of the Company) have agreed to settle in
aggregate GBP60,000 of fees owed to them net of tax for the period
from 1 January 2019 to 31 December 2019 through the issue of
2,264,152 new ordinary shares at a price of 2.65 pence per share
("Director Fee Shares"). Further details of which are set out
below.
Existing Number Number of Resultant % of enlarged
Holding of Placing Director Holding share capital
Shares Fee Shares
Andrew Allner 1,386,921 - 1,132,076 2,518,997 0.96%
----------- ------------ ------------ ----------- ---------------
Sir Colin Terry 393,549 - 566,038 959,587 0.37%
----------- ------------ ------------ ----------- ---------------
Roy Harrison
OBE 5,748,931 3,773,585 566,038 10,088,554 3.84%
----------- ------------ ------------ ----------- ---------------
Chris Gilbert 19,497,663 1,886,793 - 21,384,456 8.17%
----------- ------------ ------------ ----------- ---------------
Admission & Total Voting Rights
The New Ordinary Shares will rank pari passu with the existing
ordinary shares in all respects. Admission to AIM of the New
Ordinary Shares will occur on or around 27 December 2019.
Following the admission of the 31,509,439 new ordinary shares,
the total issued share capital of the Company will be 262,657,922
ordinary shares, each with voting rights. The Company does not hold
any ordinary shares in treasury. 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.
Chris Gilbert, CEO, commented "Our focus on our two core assets,
the factory in Kosovo and our quarry in Macedonia containing the
highly desirable Alexandrian white and blue, is showing positive
results. This money will allow us to grow the Company from these
activities and will enable the newly expanded management team at
Fox to deliver positive results in 2020"
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 (Joint Broker)
Oliver Stansfield Tel: +44 (0) 20 3463
5000
Optiva Securities Limited (Joint Broker) Tel: +44 (0) 20 3981
Christian Dennis / Jeremy King 4173
Cairn Financial Advisers LLP (Nomad)
Liam Murray / Sandy Jamieson / Ludovico Tel: +44 (0) 20 7213
Lazzaretti 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 include Alexandrian White, Alexandrian Blue,
produced from the Company's Prilep quarry in Macedonia, and Breccia
Paridisea and Rosso Cait and Grigio Argento, produced from its
quarries in Kosovo, 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.
Marble demand continues to grow with stable pricing and Fox is
capitalising on this growth internationally.
Notification of a Transaction pursuant to Article 19(1) of Regulation
(EU) No. 596/2014
1 Details of the person discharging managerial responsibilities/person
closely associated
---------------------------------------------------------------------------------------
a. Name a) Andrew Allner
b) Chris Gilbert
c) Roy Harrison
d) Sir Colin Terry
----------------------------- --------------------------------------------------------
2 Reason for notification
----------------------------- --------------------------------------------------------
a. Position/Status a) Non-Executive Chairman
b) Chief Executive Officer
c) Non-Executive Director
d) Non-Executive Director
----------------------------- --------------------------------------------------------
b. Initial notification/ Initial notification
Amendment
----------------------------- --------------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---------------------------------------------------------------------------------------
a. Name Fox Marble Holdings plc
----------------------------- --------------------------------------------------------
b. LEI 213800GJKNNE3VRWDD37
----------------------------- --------------------------------------------------------
4 Details of the transaction(s): section to be repeated for
(i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions have
been conducted
---------------------------------------------------------------------------------------
a. Description of
the financial Ordinary Shares
instrument, type
of instrument ISIN: GB00B7LGG306
Identification
Code
----------------------------- --------------------------------------------------------
b. Nature of the a) Shares in satisfaction of the outstanding
transaction fees
b) Issue of share in fundraise
c) Issue of share in fundraise and shares
in satisfaction of the outstanding fees
d) Shares in satisfaction of the outstanding
fees
----------------------------- --------------------------------------------------------
c. Price(s) and volume(s) Price(s) per Volume(s)
share
----------------------------- -------------------
a) 2.65p a) 1,132,076
b) 2.65p b) 1,886,793
c) 2.65p c) 4,339,623
d) 2.65p d) 566,038
------------------- --------------------------------
Aggregated information
- Aggregated Volume 7,924,530
d. - Price 2.65p
----------------------------- --------------------------------------------------------
e. Date of the transaction 19 December 2019
----------------------------- --------------------------------------------------------
f. Place of the transaction London Stock Exchange
----------------------------- --------------------------------------------------------
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
MSCGGGBGPUPBGAB
(END) Dow Jones Newswires
December 19, 2019 10:23 ET (15:23 GMT)
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