AGM Statement

RNS Number : 1146N

Fox Marble Holdings PLC

14 May 2015

 

AIM: FOX                                                                                                                             14 May 2015

Fox Marble Holdings plc

("Fox Marble" or the "Company")

AGM Statement

At the Company's Annual General Meeting ("AGM"), which is to be held today at 11am at Nabarro LLP, 125 London Wall, London EC2Y 5AL, the Board of Fox Marble, the AIM listed Company focused on marble quarrying extraction and production in Kosovo and the Balkans region, will deliver the following update to shareholders:

"Since the year end, the Company has made good progress in developing its growing order book, which currently stands at €2.8m, of which €2.0m is expected to be realised in the current year. Included in this are repeat orders from the St Georges division of Berkeley Homes and the first order of sample blocks which are being shipped to China.

"The Company is moving into further territories as it identifies new customers. Fox Marble has increased its international sales team which now includes a further three senior people who between them have combined experience of more than 85 years in the industry at the highest levels.

"The Company is also pleased to announce that the factory building is now complete and will shortly receive the first shipment of two gangsaws which will leave Italy within the month for installation.

"Two weeks ago, Prime Minister Isa Mustafa of Kosovo visited the factory site along with seven of his cabinet Ministers and, with the British Ambassador (H.E. Ruairi O'Connell) in attendance, declared his support for the Company and its plans for employment and commerce in Kosovo.

"Within the last month, Fox Marble's sales agency in China sent a delegation to inspect the quarries and the stone in situ and have placed a preliminary sample order that includes blocks of Sivec, Flora and Paradisea breccia. Once received in China and processed, the stated intention by the delegation is to return to Kosovo and select a large number of blocks for commercial production in their facilities in China.

"The Board notes that good progress was made during the last financial year and believes 2015 will be a pivotal year in establishing Fox Marble in the market. We continue to be encouraged by the reception of the market to our high quality marble.

"Once again, we would like to thank shareholders for their continued support of the business and the board looks forward to the progress the Company is expected to make in the coming year."

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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, Chief Financial Officer
Cairn Financial Advisers LLP (Nomad) Avi Robinson / Liam Murray	Tel: [phone]
Brandon Hill Capital (Broker)
Oliver Stansfield (CEO)	Tel: [phone]
Yellow Jersey PR
Dominic Barretto Kelsey Traynor	Tel: [phone] Tel: [phone]

Notes to Editors

Fox Marble Holdings Plc is an AIM quoted natural stone extraction Company operating in Kosovo and the Balkans region, with headquarters in the United Kingdom.

The Company has been granted mining licenses in relation to six separate marble quarries and completed a maiden JORC resource indicating an in-situ valuation of approximately Euro 16.5 billion. Established in 2011, Fox Marble has access to over 300 million cubic metres of premium quality marble.

Fox Marble also has rights to extract grey marble from the Drini quarry and cream and white grey marble from the Malesheva quarry, both in Kosovo and white Sivec marble from the Prilep Quarry in Macedonia.

 

END

 

 

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