Issue of Convertible Loan Note

RNS Number : 6523J

Fox Marble Holdings PLC

30 June 2017

 

AIM:  FOX

30 June 2017

Fox Marble Holdings plc

 ("Fox Marble" or the "Company")

Issue of Convertible Loan Note

Fox Marble, the AIM listed company focused on marble quarrying and finishing in Kosovo and the Balkans region, is pleased to provide the following update to the market.

The Company confirms that it has issued a new convertible loan note with a value of £440,000 ("Series 3 Loan Note") to a non related party.  This new Series 3 Loan Note has an interest rate of 8%, in line with the Series 1 Loan Note issued to Amati Global Investors Limited.  The Loan Note is due for conversion or repayment on 31^st August 2019 with a conversion price set at 10p.

Chris Gilbert, CEO, commented:

"This new convertible gives us flexibility during this turnaround year as we generate more revenue from the sales of our marble worldwide."

For more information on Fox Marble please visit www.foxmarble.net  or contact:

Fox Marble Holdings plc
Chris Gilbert, Chief Executive Officer	Tel: [phone]
Cairn Financial Advisers LLP (Nomad) Liam Murray	Tel: [phone]
Brandon Hill Capital (Broker)
Oliver Stansfield	Tel: [phone]
Yellow Jersey PR
Felicity Winkles  Francesca Hillier	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 licences 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 marble from the Drini and Malesheva quarries, both in Kosovo and from the Prilep Quarry in Macedonia.

 

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