Creation of a dedicated shipping subsidiary

RNS Number : 2736B

SigmaRoc PLC

03 April 2017

 

3 April 2017

SigmaRoc plc

('SigmaRoc' or the 'Company')

Creation of a dedicated shipping subsidiary

SigmaRoc plc, the AIM listed construction materials business (AIM: SRC), is pleased to announce it has incorporated a new subsidiary, SigmaGsy Limited ('SigmaGsy'), dedicated to bulk shipping activities around the British Isles and northern Europe. SigmaRoc anticipates its new subsidiary will add in excess of £200,000 per year to its operational EBITDA, starting from the second quarter of this year. 

SigmaGsy will supplement the bulk shipping requirements of cement majors and other partners in the region with a specialised offering and support the shipping needs of SigmaRoc's wholly owned subsidiary Ronez Limited. The new subsidiary will require an initial investment of £550,000 for the acquisition of highly specific equipment including a dedicated bulk cement carrier.

David Barrett, Executive Chairman of SigmaRoc, commented:

"This is a small but significant step forward for our business. As a relatively new niche player in a high volume bulk market we are able to bring to the table shipping solutions which complement the requirements of our sector. This new subsidiary further enforces our strategy to operate in niche areas of this industry to the benefit of our investors."

**ENDS**

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.

For further information, please visit www.sigmaroc.com or contact:

SigmaRoc plc		[phone]
Max Vermorken
Strand Hanson Limited (Nominated and Financial Adviser)		[phone]
James Spinney
James Dance
Zeus Capital Limited (Broker)		[phone]
Rob Collins Alex Wood
Tavistock (Public Relations Adviser)		[phone]
Jos Simson
Edward Lee

 

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