Fox Marble Holdings PLC Admission to AIM and First Day of Dealings (4232B)
02 Junio 2023 - 2:05AM
UK Regulatory
TIDMECOB
RNS Number : 4232B
Fox Marble Holdings PLC
02 June 2023
2 June 2023
Certain information contained within this Announcement is deemed
by the Company to constitute inside information as stipulated under
the Market Abuse Regulation (EU) No. 596/2014 ("MAR") as applied in
the United Kingdom. Upon publication of this Announcement, this
information is now considered to be in the public domain.
Fox Marble Holdings plc (to be renamed Eco Buildings Group
plc)
(the "Group")
Admission to Trading on AIM and First Day of Dealings
Fox Marble Holdings plc (AIM: ECOB) (to be renamed Eco Buildings
Group plc), is pleased to announce the readmission of its shares to
trading on AIM ("Admission") following completion of the reverse
takeover of Eco Buildings Group Limited ("Eco Buildings" and the
enlarged group following Admission being the "Group"), a company
that will operate in the prefabricated modular housing sector.
Eco Buildings acquired the proven and innovative prefabricated
modular technology using glass fibre reinforced gypsum (GFRG), an
alternative construction method to achieve faster and more
economical development of residential, commercial and industrial
dwellings. Since 2006, over US $6 million has been invested in the
technology by Dominic Redfern, who has joined the board, to
establish a high quality, low cost and environmentally friendly
range of modular housing products.
Based on this technology, Eco Buildings' management team has
utilised its network, particularly in the Balkans, and has
initially secured two contracts in Albania that are expected to
generate gross sales revenue of up to EUR114 million in total over
the first three years following Admission.
The Directors believe Eco Buildings' range of modular housing
products provides a solution for the construction of both
affordable and high-end housing, with Eco Buildings' products being
up to 50% cheaper, two-thirds lighter and five times faster to
deploy than conventionally built homes.
Sanjay Bowry, the incoming CEO of the Enlarged Group, commented:
"We are very proud to be re-joining AIM today with Eco Building's
new strategic focus. We have an exciting opportunity ahead of us
and being a quoted business will allow us to capitalise on this and
accelerate our growth plans."
Placing
The Group has successfully raised GBP2.7 million (before
expenses) via a placing of 4,946,313 new ordinary shares at an
issue price of 55 pence per share (the "Placing"). The net proceeds
of the Placing will be used to expand the Enlarged Group's
production capacity, meet its obligations under two existing sales
contracts and accelerate growth.
SPARK Advisory Partners Limited is acting as Nominated Adviser
and Tavira Financial Limited is acting as broker in relation to
Admission.
The ISIN of the Ordinary Shares is GB00BRJTP124, the SEDOL of
the Ordinary Shares is BRJTP12 and the Group's LEI number is
213800GJKNNE3VRWDD37.
Total Voting Rights
The number of shares in issue immediately after Admission is
70,070,080 giving the Group a market capitalisation of
approximately GBP38.5 million at the issue price of 55 pence per
share. Admission took place at 8.00 a.m. today, 2 June 2023.
The Group holds no shares in treasury and therefore the figure
above 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
share capital of the Group under the Disclosure Guidance and
Transparency Rules of the Financial Conduct Authority.
Change of Name and TIDM
The Group's TIDM has changed to "ECOB" with effect from
Admission. The Group has today resolved to change its name to Eco
Buildings Group plc ("Change of Name"), the Change of Name is being
processed by Companies House and will take effect on the London
Stock Exchange once this has occurred.
Board Changes
On Admission, Sanjay Bowry, Etrur Albani, Dominic Redfern and
Ahmet Shala will join the Board, Christopher Gilbert and Roy
Harrison have stepped down from the Board.
Full details of the Directors are given in the Group's Admission
Document dated 28 April 2023. There are no further disclosures to
be made pursuant to Schedule Two paragraph (g) of the AIM Rules for
Companies.
Christopher Gilbert, departing Chief Executive Officer,
commented: "I, along with my colleague Roy Harrison, as departing
directors, would like to wish Sanjay Bowry and the Eco Buildings'
team the very best on their future endeavours. We are proud of what
Fox Marble has achieved in completing the reverse takeover of Eco
Buildings and have every confidence the executive team will deliver
significant long-term value for the Group's shareholders"
For more information on Eco Buildings please visit
www.eco-buildingsplc.com or contact:
Fox Marble Holdings PLC (to be renamed Tel: +44 (0)20 7380
Eco Buildings Group plc) 0999
Sanjay Bowry, Chief Executive Officer
Fiona Hadfield, Finance Director
Spark Advisory Partners Limited (Nominated Tel: +44 (0)20 3368
Adviser) 3550
Matt Davis / James Keeshan
Tavira Financial Limited (Broker) Tel: +44 (0)20 3192
Oliver Stansfield/Jonathan Evans 1739
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END
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