Proposed Acquisition of Ronez Limited

RNS Number : 6526P

SigmaRoc PLC

21 November 2016

 

21 November 2016

SigmaRoc plc

("SigmaRoc" or the "Company")

Proposed Acquisition of Ronez Limited

Merger Application made to Channel Islands Competition & Regulation Authorities

SigmaRoc (AIM:SRC) announces that, further to its statement of 5 October 2016 which set out reasons for the Company's suspension from trading on AIM, it has participated on 18 November 2016 in an application to the Channel Islands Competition & Regulatory Authorities ("CICRA") for the requisite approvals in respect of the proposed acquisition of Ronez Limited ("Ronez") from Aggregate Industries Limited, a wholly owned subsidiary of LafargeHolcim Ltd (the "Proposed Acquisition").

Ronez is a fully integrated producer of construction materials and operates two quarries and multiple business lines with associated production units across Jersey and Guernsey, providing a full range of construction materials to the local area, including aggregates, concrete, concrete products, asphalt and cement, together with contracting services.

Due to its size and nature, the Proposed Acquisition will constitute a reverse takeover of the Company pursuant to the AIM Rules for Companies. The Proposed Acquisition will be conditional on, inter alia, financing, CICRA approvals and the approval of SigmaRoc shareholders at a general meeting of the Company. The Company's ordinary shares will remain suspended from trading on AIM until such time as an admission document is published.

Further announcements will be made in due course, as appropriate.

-Ends-

For further information, please contact:

SigmaRoc plc		[phone]
Max Vermorken [e-mail]
Strand Hanson Limited (Nominated and Financial Adviser)		[phone]
James Spinney
James Dance
Zeus Capital Limited (Joint Financial Adviser)		[phone]
Rob Collins Alex Wood
Orchard PR (Channel Islands Public Communications Adviser) Emma Anderson		[phone]
Tavistock (Public Relations Adviser)		[phone]
Jos Simson Emily Fenton
Barney Hayward

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement via Regulatory Information Service, this inside information is now considered to be in the public domain.

 

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