Interim Results for the six months ended 30 June 2022

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Eco Buildings Group Limited – Transaction Update

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA, THE UNITED STATES OR ANY OTHER JURISDICTION WHERE TO DO SO MIGHT CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.

This announcement does not constitute or form part of, and should not be construed as, an offer to sell or issue, or a solicitation of any offer to buy or subscribe for, any securities, in any jurisdiction, including in or into the United States   of America (including its territories and possessions, any state of the United States and the District of Columbia (the "United States" or the "US")), Australia, Canada, Japan, the Republic of South Africa (each a "Restricted Jurisdiction") or any other jurisdiction where to do so might constitute a violation or breach of any applicable law nor should it or any part of it form the basis of, or be relied on in connection with, any contract or commitment whatsoever.

Investors should not use this announcement as the basis for any investment in the securities of the Company which should only be made on the basis of information contained in the admission document (the "Admission Document") intended to be published by Fox Marble plc (the "Company" or "Fox Marble" and, together with its subsidiary undertakings, the "Group") in due course in connection with the proposed reverse takeover of Eco Buildings Group Limited and the subsequent readmission of its ordinary shares to trading on the AIM market ("AIM") of London Stock Exchange plc (the "London Stock Exchange"), ("Admission").  Copies of the Admission Document will, following publication, be available for inspection on the Company's website at   www.foxmarble.net.

Fox Marble Holdings plc

  ("Fox Marble" or the "Company")

Eco Buildings Group Limited – Transaction Update

The Directors of Fox Marble are pleased to provide an update, further to the announcement on 11 April 2022, on the proposed reverse takeover ("RTO") of Eco Buildings Group Limited (“Eco Buildings”) by the Company.

The RTO

The Company is proposing to acquire the entire issued share capital of Eco Buildings for an aggregate purchase price of £30 million, to be satisfied by the issue of ordinary shares in the Company. It is therefore estimated that the Company as enlarged by the acquisition will have an equity value of £34.4m (based on Fox Marble’s share price at the time of suspension being 1.085p).  In addition, as part of the RTO, the Company is also proposing to raise up to £10m by way of a placing (the “Placing”).

There can be no guarantee that the RTO nor the Placing will be completed as they are subject to a significant number of pre-conditions, which inter alia, include the following:

·        readmission of the Company’s shares to trading on AIM following the acquisition and obtaining of all relevant approvals (“Admission”) becoming effective;

·        Shareholder approval in a general meeting;

·        Certain Regulatory approvals being received;

·        The publication of an admission document by the Company; and

·        A placing agreement becoming unconditional in all respects (save for Admission).

Information on Eco Buildings

Eco Buildings will operate in the prefabricated modular housing sector. Eco Buildings has 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 will be joining the revised 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, to secure two initial contracts that are expected to generate first sales revenue of approximately €38 million per annum in the first three years following Admission (c. €114 million in total).

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.

The Directors believe that Fox Marble’s existing building products and operations should deliver revenue synergies when combined with Eco Buildings. These include Fox Marble’s intention to supply and process dimensional marble from its existing quarries for use within Eco Buildings’ modular housing projects. The Directors believe that by developing Eco Buildings’ pipeline of prospective projects globally, it intends to also further expand the markets in which Fox Marble’s dimensional stone product can be marketed.

Walling System Manufacturing Process

Eco Buildings’ panels are manufactured using a panel casting system. It involves a single vertical panel casting machine which automates the moulding process and uses a liquid mix of calcined plaster, water, fiberglass rovings, together with proprietary waterproofing agents and curing admixtures.

Eco Buildings’ first production line, which consists of a vertical panel casting machine and supporting equipment has been moved from the United Arab Emirates (UAE) to a newly built 2,400m2 factory building in Albania for the sake of proximity to its initial contracted customers and is anticipated to be operational in Q4 2022. A production line is capable of producing 11,264m2 of panelling per month or the equivalent of 31 housing units (372 units annually).

The 8,000m2 factory site is located close to Albania’s capital, Tirana, adjacent to the port of Durres, Albania’s principal seaport.

Operational Expansion

Once the facility is fully operational, Eco Buildings plans to expand as follows:

Phase I

•          Increase the number of production lines from 1 to 4 – to meet existing contractual obligations, the Directors intend to add a second and third line to the factory in 2023 and a fourth in 2024. The first three production lines are expected to produce approximately 1,100 residential units per annum with production capacity increasing to approximatley 1,500 units per annum when the fourth line is added.

•          Vertical integration – Once the Company is cash flow positive Eco Buildings intends to construct a calcination plant. This will allow the Group to produce its own GFRG, the key raw material in the production of the Eco Buildings’ turnkey solution.

Phase II

Approximately one-third of the urban population in the southern hemisphere live in informal settlements, which lack access to basic services such as electricity, running water, or sanitation.

After an extensive ideation and conceptual design process, the Group intends to complete the manufacturing, design and construction of the first of its mobile manufacturing units that can be deployed at speed remotely in 2023. These ‘pop up’ facilities will be used in areas with less developed infrastructure than the factory site and/or areas where traditional construction is markedly less cost effective than the Eco Buildings’ system deployed locally and/or at large-scale, multi-year new town or new community developments where there significant social, logistical or financial gains can be made over several project phases.

Update on Temporary Suspension

Further to the announcement of 11 April 2022, the Company was suspended from trading on AIM on 11 April 2022 and remains so, pending either the publication of an admission document or until the proposed acquisition negotiations are terminated.

Pursuant to AIM Rule 41, if the Company's ordinary shares have been suspended from trading for a period of six months, the admission of its ordinary shares to trading on AIM will then be cancelled.

A further announcement will be made in due course on publication and posting of the Company's audited final results.

Ends

This announcement contains inside information as stipulated under the UK Market Abuse Regulations. The Directors of the Company take responsibility for this announcement.

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

Fox Marble Holdings plc

Chris Gilbert, Chief Executive Officer

Tel: +44 (0) 20 7380 0999

Fiona Hadfield, Finance Director

Tel: +44 (0) 20 7380 0999

Tavira Securities Limited (Broker)

Oliver Stansfield

Tel: +44 (0) 20 7100 5100

Cairn Financial Advisers LLP (Nomad)

Liam Murray/Sandy Jamieson

Tel: +44 (0) 20 7213 0880

Notes to Editors

Fox Marble (AIM: FOX) is a marble production, processing and distribution company with operations in Kosovo and the Balkans.

Its marble products, which include Alexandrian Blue, Alexandrian White, Breccia Paradisea, Etruscan gold and Grigio Argent, are gaining sales globally to wholesale companies and directly to luxury residential properties. In the UK these include St George's Homes and Capital and Counties Plc's Lillie Square development. In Sydney, Australia, Rosso Cait, Alexandrian White and Breccia Paradisea have been used in what is expected to be Australia's most expensive residential property. These sales serve to demonstrate the desirability of Fox Marble's premium marble products as the stone of choice in some of the most prestigious and expensive residential developments around the world.

Caution regarding forward looking statements

Certain statements in this announcement, are, or may be deemed to be, forward looking statements. Forward looking statements are identified by their use of terms and phrases such as ''believe'', ''could'', "should" ''envisage'', ''estimate'', ''intend'', ''may'', ''plan'', ''potentially'', "expect", ''will'' or the negative of those, variations or comparable expressions, including references to assumptions. These forward looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors.

Preliminary Results for the year ended 31 December 2021

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Proposed Acquisition, Convertible Loan Note and Temporary Suspension

Fox Marble Holdings plc
(“Fox Marble” or the “Company”)

Fox Marble, the AIM listed company focused on marble quarrying and processing in Kosovo and the Balkans region, is pleased to announce that it has arranged funding by way of a convertible loan note of £400k.  The purpose of this fundraising is to provide a loan facility to assist in the planned acquisition of the entire issued share capital of ECO Buildings Group Limited (“Eco Buildings”) (the “Proposed Acquisition”). The Company has agreed heads of terms with Eco Buildings for the Proposed Acquisition.

Proposed Acquisition

The Proposed Acquisition will constitute a reverse takeover pursuant to AIM Rule 14 under the AIM Rules for Companies.

As part of the process, Fox Marble intends to undertake a significant capital expansion, including capital reorganisation and change its name to ECO Buildings Group Plc (the “Enlarged Group”). The Proposed Acquisition is conditional on, inter alia, certain approvals and a shareholder vote at a General Meeting of the Company.  There can be no certainty nor guarantee that the Proposed Acquisition will complete.

Eco Buildings, a recently incorporated English private limited company will design, manufacture, and construct buildings made from glass fibre reinforced gypsum (GFRG) modular sections that capture cost and design efficiencies and advantages in build quality and performance that traditional building methods cannot deliver.

It is the Company’s intention that the Proposed Acquisition will be structured in such a way that any benefits arising from the successful conclusion of its legal proceedings against the Republic of Kosovo, as previously announced on 30 September 2021, will be distributed to the benefit of the current shareholders of the Company only. 

Convertible Loan Note

As part of the Proposed Acquisition, Fox Marble has raised approximately £400k by way of a convertible loan note (“CLN”) with which it has made a loan facility of up to £400k available to ECO Buildings for general working capital needs ahead of the Proposed Acquisition (the “Loan Facility”).  The Loan Facility will have an interest rate of 2% per annum and may be drawn down in four tranches.  The Loan Facility is repayable on the earlier of (i) the date of completion of the Proposed Acquisition, (ii) twelve months after the date of the heads of terms, or (iii) three months after the date that the Proposed Acquisition negotiations are terminated.

The CLN will carry an interest rate of 2% per annum deferred for 2 years and a term of 5 years.  The CLN is convertible into Fox Marble ordinary shares at a price of 6 pence per share. Should the Proposed Acquisition not be completed by 31 December 2022, the CLN will only be repayable to the extent that the Loan Facility is repaid to Fox Marble.

Temporary Suspension

Accordingly, at the request of the Company, the Company's ordinary shares will be suspended from trading on AIM with effect from7.30 a.m. on 11 April 2022, pending either the publication of an admission document or until the Proposed Acquisition negotiations are terminated.

Pursuant to AIM Rule 41, if the Company’s ordinary shares have been suspended from trading for a period of six months, the admission of its ordinary shares to trading on AIM will then be cancelled.

A further announcement will be made in due course.

Chris Gilbert, CEO, commented

“The opportunity for Fox Marble to undertake the Proposed Acquisition represents a unique significant move to grow into a much larger group with the expectation of increased growth as a result. Housing is one of the basic human needs and is fundamental to reduce poverty, provide equal opportunities and this scheme will allow the combined group to address the very large housing deficit that exists in many parts of the world which its housing product is very efficiently able to solve. It is not only relatively inexpensive compared to other building methods, but also robust, high quality and fast to manufacture, deploy and erect on site.  The Fox Marble business unit within the Enlarged Group will continue to grow its own business as previously and additionally benefit from supplying its processed marble to the housing manufactured and installed by the Eco Buildings unit.

“Globally, while governments and international bodies place a high priority on making housing available and affordable, they struggle to meet this challenge because traditional construction is inherently high cost in terms of labour, raw material and environmental impact.  ECO building provides one way to help address this crisis.”

Ends

This announcement contains inside information for the purposes of Regulation 11 of the Market Abuse (amendment) (EU exit) Regulations 2019/310. The Directors of the Company take responsibility for this announcement.

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

Fox Marble Holdings plc

Chris Gilbert, Chief Executive Officer

Tel: +44 (0)20 7380 0999

Fiona Hadfield, Finance Director

Tel: +44 (0)20 7380 0999

Quatro PR

Gary Pleasants

Tel: +44 (0)207 566 7963/+44 (0)7966 487 739

Mark Herbert

Tel: +44 (0)7770 381608

Allenby Capital Limited (Joint Broker)

Nick Naylor/Nick Athanas/Liz Kirchner (Corporate Finance)

Amrit Nahal (Sales and Corporate Broking)

Tel: +44 (0)20 3394 2973

Tavira Securities Limited (Joint Broker)

Oliver Stansfield/Jonathan Evans

+44 (0)203 192 1739

Cairn Financial Advisers (Nomad)

Sandy Jamieson/Liam Murray/Ludovico Lazzaretti

Tel: +44 (0)20 7213 0880

Notes to Editors

Fox Marble (AIM: FOX) is a marble production, processing and distribution company with operations in Kosovo and the Balkans.

Its marble products, which include Alexandrian Blue, Alexandrian White, Breccia Paradisea, Etruscan gold and Grigio Argent, are gaining sales globally to wholesale companies and directly to luxury residential properties. In the UK these include St George’s Homes and Capital and Counties Plc’s Lillie Square development. In Sydney, Australia, Rosso Cait, Alexandrian White and Breccia Paradisea have been used in what is expected to be Australia’s most expensive residential property. These sales serve to demonstrate the desirability of Fox Marble’s premium marble products as the stone of choice in some of the most prestigious and expensive residential developments around the world.

Caution regarding forward looking statements

Certain statements in this announcement, are, or may be deemed to be, forward looking statements. Forward looking statements are identified by their use of terms and phrases such as ''believe'', ''could'', "should" ''envisage'', ''estimate'', ''intend'', ''may'', ''plan'', ''potentially'', "expect", ''will'' or the negative of those, variations or comparable expressions, including references to assumptions. These forward looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors.

Update on processed marble

Fox Marble Holdings plc
("Fox Marble" or the "Company")

Fox Marble, the AIM listed company focused on marble quarrying and processing in Kosovo and the Balkans region is pleased to announce that it has signed a contract to supply BA Engineering & Consulting Sh.p.K ("BA Engineering") with an initial 8,000 square metres of cut and polished tiles for an approximate value of €200,000. Fox Marble will process blocks from its quarries through its 100% owned processing facility, with first deliveries expected to take place in March 2022, with the full value of the contract expected to be recognised in the current financial year.

BA Engineering is a local Kosovan construction company with multiple developments in Kosovo. Given BA Engineering is also engaged in developing a number of large prestigious projects in Kosovo, the Company believes this will be the first of a series of orders that BA Engineering will place.

In addition, the Company has signed a non-binding agreement to supply Unik Construction LLC with up to 30,000 square metres of material for ongoing projects they are planning across Europe. The Company expects the first orders under this agreement in Q2 2022. There are no minimum order levels associated with the agreement.

Chris Gilbert, CEO, commented

"These contracts to supply cut and polished tiles reaffirms our position as a leading provider of dimension stone within Kosovo. We look forward to working with BA Engineering and Unik going forward and establishing an ongoing relationship.

"With the winter now behind us, we are once again able to access our quarries and recommence extracting block marble. This will not only enable us to meet existing orders of cut and polished stone, but also enable us to capitalise on the increased interest we are seeing for block marble purchases following the COVID-19 pandemic.

"Following our capital raise in December 2021, we are purchasing additional machinery. With this expanded capacity in place, we will look to complete on additional contracts for cut and polished stone."

This announcement contains inside information for the purposes of Regulation 11 of the Market Abuse (amendment) (EU exit) Regulations 2019/310. The Directors of the Company take responsibility for this announcement.

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

Fox Marble Holdings plc

Chris Gilbert, Chief Executive Officer

Tel: +44 (0) 20 7380 0999

Fiona Hadfield, Finance Director

Tel: +44 (0) 20 7380 0999

Tavira Securities (Joint Broker)

Oliver Stansfield

Allenby Capital (Joint Broker)

Amrit Nihal/Nick Naylor

Tel: +44 (0) 20 3192 1739

Tel: +44 (0) 20 3394 2973

Cairn Financial Advisers LLP (Nomad)

Liam Murray / Sandy Jamieson

Tel: +44 (0) 20 7213 0880

Notes to Editors

Fox Marble (AIM: FOX), is a marble production, processing and distribution company in Kosovo and the Balkans region.  

Its marble products, which includes Alexandrian Blue, Alexandrian White, Breccia Paradisea, Etruscan gold and Grigio Argento and are gaining sales globally both to international wholesale companies as well as being supplied directly into luxury residential properties. In the UK these include among others St George's Homes and Capital and Counties Plc's Lillie Square development. In Sydney, Australia Rosso Cait, Alexandrian White and Breccia Paradisea marble have been used in what is expected to be Australia's most expensive residential property. These sales serve to demonstrate the desirability of Fox's premium marble products as the stone of choice in some of the most prestigious and expensive residential developments around the world. 

Caution regarding forward looking statements

Certain statements in this announcement, are, or may be deemed to be, forward looking statements. Forward looking statements are identified by their use of terms and phrases such as ''believe'', ''could'', "should" ''envisage'', ''estimate'', ''intend'', ''may'', ''plan'', ''potentially'', "expect", ''will'' or the negative of those, variations or comparable expressions, including references to assumptions. These forward looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors.

Appointment of Broker

Fox Marble Holdings plc
("Fox Marble" or the "Company")

Further to the Company's announcement of 5 January 2022, Fox Marble, the AIM listed marble production company with operations in Kosovo and the Balkans, is pleased to announce the appointment of Tavira Securities Limited ("Tavira") as Joint Broker to the Company effective immediately. As previously announced, Tavira has recruited senior personnel that managed the Fox Marble relationship for the Company's former broker, Brandon Hill Capital Limited. 

Ends

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

Fox Marble Holdings plc

Chris Gilbert, Chief Executive Officer

Tel: +44 (0)20 7380 0999

Fiona Hadfield, Finance Director

Tel: +44 (0)20 7380 0999

Quatro PR

Gary Pleasants

Tel: +44 (0)207 566 7963/+44 (0)7966 487 739

Mark Herbert

Tel: +44 (0)7770 381608

Allenby Capital Limited (Joint Broker)

Nick Naylor/Nick Athanas/Liz Kirchner (Corporate Finance)

Amrit Nahal (Sales and Corporate Broking)

Tel: +44 (0)20 3394 2973

Tavira Securities Limited (Joint Broker)

Oliver Stansfield/Jonathan Evans

+44 (0)203 192 1739

Cairn Financial Advisers (Nomad)

Sandy Jamieson/Liam Murray/Ludovico Lazzaretti

Tel: +44 (0)20 7213 0880

Notes to Editors

Fox Marble (AIM: FOX) is a marble production, processing and distribution company with operations in Kosovo and the Balkans.

Its marble products, which include Alexandrian Blue, Alexandrian White, Breccia Paradisea, Etruscan gold and Grigio Argent, are gaining sales globally to wholesale companies and directly to luxury residential properties. In the UK these include St George's Homes and Capital and Counties Plc's Lillie Square development. In Sydney, Australia, Rosso Cait, Alexandrian White and Breccia Paradisea have been used in what is expected to be Australia's most expensive residential property. These sales serve to demonstrate the desirability of Fox Marble's premium marble products as the stone of choice in some of the most prestigious and expensive residential developments around the world.

Change of Broker

Fox Marble Holdings plc
(“Fox Marble” or the “Company”)

Fox Marble, the AIM listed marble production company with operations in Kosovo and the Balkans, is pleased to announce its intention to appoint Tavira Securities Limited (“Tavira”) as its joint broker.

Tavira has recruited senior personnel from the Company's historic broker Brandon Hill Capital Limited and accordingly both Brandon Hill Capital Limited and the Company have now terminated the existing broker engagement with immediate effect and by mutual consent.

Pending the expected appointment of Tavira as joint broker Allenby Capital Limited will act as the Company’s sole broker.

Ends

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

Fox Marble Holdings plc

Chris Gilbert, Chief Executive Officer

Tel: +44 (0)20 7380 0999

Fiona Hadfield, Finance Director

Tel: +44 (0)20 7380 0999

Quatro PR

Gary Pleasants

Tel: +44 (0)207 566 7963/+44 (0)7966 487 739

Mark Herbert

Tel: +44 (0)7770 381608

Allenby Capital Limited (Broker)

Nick Naylor/Nick Athanas/Liz Kirchner (Corporate Finance)

Amrit Nahal (Sales and Corporate Broking)

Tel: +44 (0)20 3394 2973

Cairn Financial Advisers (Nomad)

Sandy Jamieson/Liam Murray/Ludovico Lazzaretti

Tel: +44 (0)20 7213 0880

Notes to Editors

Fox Marble (AIM: FOX) is a marble production, processing and distribution company with operations in Kosovo and the Balkans.

Its marble products, which include Alexandrian Blue, Alexandrian White, Breccia Paradisea, Etruscan gold and Grigio Argent, are gaining sales globally to wholesale companies and directly to luxury residential properties. In the UK these include St George’s Homes and Capital and Counties Plc’s Lillie Square development. In Sydney, Australia, Rosso Cait, Alexandrian White and Breccia Paradisea have been used in what is expected to be Australia’s most expensive residential property. These sales serve to demonstrate the desirability of Fox Marble’s premium marble products as the stone of choice in some of the most prestigious and expensive residential developments around the world.

Issue of Shares and Warrants

Fox Marble Holdings plc
(“Fox Marble” or the “Company”)

·         Placing to raise £500K at 1.3p per share

·         Proceeds will be used to expand processing operations to cater for expected increased demand

·         Targeting revenue growth in 2022 following the COVID-enforced shutdowns in 2020-21

Fox Marble, the AIM listed company focused on marble quarrying and finishing in Kosovo and the Balkans region announces that it has issued in aggregate 38,461,539 new ordinary shares (“Placing Shares”) at a price of 1.3 pence (the “Placing”), raising gross proceeds of £500,000. Investors in the Placing will also receive one warrant for every two Placing Shares to subscribe for one new ordinary share in the Company at an exercise price of 2 pence per share which are exercisable at any time from Admission (as defined below) up until the third anniversary of Admission.

Background to Placing and Use of Proceeds

Over the last six months the Company has witnessed an uplift in demand for its cut and polished marble, some of which has already translated into firm orders. Accordingly, the Company has elected to raise funds to acquire additional machinery and working capital to meet this increased demand. This expanded capacity is also expected to enable the Company to enter into additional contracts with new customers over the coming months.

The Company is currently fulfilling contracts worth €1.35M and has signed additional contracts, due to commence in 2022, for approximately €2.3M. This includes the recently announced new Joint Venture with UAE based Al Bab Al Mumtaz, which provides for a minimum commitment of €0.5M in 2022, increasing to approximately €1M in 2023.

A small portion of the funds from the Placing will be used for the establishment of a new marketing area, not only for the Company’s cut and polished stone, but importantly for its block marble, which over the last few months has seen a resurgence of interest from buyers in the Middle East and Far East. The Company has not accounted for any block marble sales in its order book, but if interest persists it is likely to provide a boost to 2022 revenue.

Chris Gilbert, CEO of Fox Marble, commented:

“I am pleased with the level of support shown by investors in this financing. The pricing of the Placing, effectively at market, highlights the positive investment case and opportunity the Company provides.

Our operations were hindered by the COVID pandemic during 2020-2021, particularly given the nature of our business. However, we have seen a significant return in demand and feel now is the right time to invest in our infrastructure to meet this increased appetite. The equipment we are acquiring has already been sourced and the Company expects it to be delivered and installed in Q1 2022.

This expansion now gives the Board the confidence to conclude further contracts with parties the Company has been in dialogue with for some time. I am also heartened by the uptick in enquiries with respect to the purchase of block marble, a revenue stream that has been closed off since the emergence of the COVID pandemic in 2020.

I am therefore optimistic that 2022 will prove to be a turning point for the Company. It is also likely to be the year where FOX Marble is able to present its case in the court of International Arbitration on its €195M legal case against the Republic of Kosovo. Legal proceedings are fully funded and are being led by Dentons Europe CS LLC.”

Admission & Total Voting Rights

The Placing Shares will rank pari passu with the existing ordinary shares in all respects. Admission to AIM of the Placing Shares will occur on or around 15 December 2021 (“Admission”). Following the admission of the 38,461,539 Placing Shares, the total issued share capital of the Company will be 417,333,553 ordinary shares, each with voting rights. The Company does not hold any ordinary shares in treasury and the above figure 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 Company, under the Disclosure and Transparency Rules.

This announcement contains inside information for the purposes of Regulation 11 of the Market Abuse (amendment) (EU exit) Regulations 2019/310. The Directors of the Company take responsibility for this announcement.

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

Fox Marble Holdings plc

Chris Gilbert, Chief Executive Officer

Tel: +44 (0)20 7380 0999

Fiona Hadfield, Finance Director

Tel: +44 (0)20 7380 0999

Quatro PR

Gary Pleasants

Tel: +44 (0)207 566 7963/+44 (0)7966 487 739

Mark Herbert

Tel: +44 (0)7770 381608

Brandon Hill (Joint Broker)

Oliver Stansfield

Tel:  +44 (0)20 3463 5000

Allenby Capital (Joint Broker)

Nick Naylor/Nick Athanas/Liz Kirchner (Corporate Finance)

Amrit Nahal (Sales and Corporate Broking)

Tel:  +44 (0)20 3394 2973

Cairn Financial Advisers (Nomad)

Liam Murray/Sandy Jamieson/Ludovico Lazzaretti

Tel: +44 (0)20 7213 0880

Notes to Editors

Fox Marble (AIM: FOX) is a marble production, processing and distribution company with operations in Kosovo and the Balkans.

Its marble products, which include Alexandrian Blue, Alexandrian White, Breccia Paradisea, Etruscan gold and Grigio Argent, are gaining sales globally to wholesale companies and directly to luxury residential properties.  In the UK these include St George’s Homes and Capital and Counties Plc’s Lillie Square development.  In Sydney, Australia, Rosso Cait, Alexandrian White and Breccia Paradisea have been used in what is expected to be Australia’s most expensive residential property.  These sales serve to demonstrate the desirability of Fox Marble’s premium marble products as the stone of choice in some of the most prestigious and expensive residential developments around the world.

Caution regarding forward looking statements

Certain statements in this announcement, are, or may be deemed to be, forward looking statements. Forward looking statements are identified by their use of terms and phrases such as ''believe'', ''could'', "should" ''envisage'', ''estimate'', ''intend'', ''may'', ''plan'', ''potentially'', "expect", ''will'' or the negative of those, variations or comparable expressions, including references to assumptions. These forward looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors

Joint Venture Agreement

Fox Marble Holdings plc
(“Fox Marble” or the “Company”)

Fox Marble, the AIM listed marble production company with operations in Kosovo and the Balkans, announces that it has signed a joint venture agreement with Al Bab Al Mumtaz Group in the United Arab Emirates.

Al Bab Al Mumtaz Group is a wholesaler of flooring solutions to customers in the UAE and MENA region with turnover in the region of AED 100m (circa €23 million) and has 27 retail outlets across the UAE, the Sultanate of Oman and Rwanda. Al Bab Al Mumtaz Group operate three warehouses in Sajaa, UAE all of which can accommodate over 200,000 sqm of materials at any given time.

Al Bab Al Mumtaz Group was established in 2006 by Ibrahim Kutty. The company supplies a wide variety of marble, granites, ceramic, vinyl, carpet parquet and other natural stones from sources from all over the world.

Under the agreement it is anticipated that Fox Marble will supply Al Bab Al Mumtaz Group with marble tiles and slabs processed in its factory in Kosovo, for sale via its range of outlets in the region. The arrangement is expected to generate revenue in the region of AED 2m (€0.50m) in its first year of operation of 2022 and AED 4m (€0.95m) in 2023.

Chris Gilbert, CEO, commented:

“This agreement is the product of long-term efforts to develop relationships within this region. We look forward to a successful and productive relationship for both our companies, providing a solid footing for Fox Marble products in the region. “

This announcement contains inside information for the purposes of Regulation 11 of the Market Abuse (amendment) (EU exit) Regulations 2019/310. The Directors of the Company are responsible for the release of this announcement.

Ends

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

Fox Marble Holdings plc

Chris Gilbert, Chief Executive Officer

Tel: +44 (0)20 7380 0999

Fiona Hadfield, Finance Director

Tel: +44 (0)20 7380 0999

Quatro PR

Gary Pleasants

Tel: +44 (0)207 566 7963/+44 (0)7966 487 739

Mark Herbert

Tel: +44 (0)7770 381608

Brandon Hill (Joint Broker)

Oliver Stansfield

Tel:  +44 (0)20 3463 5000

Allenby Capital (Joint Broker)

Nick Naylor/Nick Athanas/Liz Kirchner (Corporate Finance)

Amrit Nahal (Sales and Corporate Broking)

Tel:  +44 (0)20 3394 2973

Cairn Financial Advisers (Nomad)

Sandy Jamieson/Liam Murray/Ludovico Lazzaretti

Tel: +44 (0)20 7213 0880

Notes to Editors

Fox Marble (AIM: FOX) is a marble production, processing and distribution company with operations in Kosovo and the Balkans.

Its marble products, which include Alexandrian Blue, Alexandrian White, Breccia Paradisea, Etruscan gold and Grigio Argent, are gaining sales globally to wholesale companies and directly to luxury residential properties. In the UK these include St George’s Homes and Capital and Counties Plc’s Lillie Square development. In Sydney, Australia, Rosso Cait, Alexandrian White and Breccia Paradisea have been used in what is expected to be Australia’s most expensive residential property. These sales serve to demonstrate the desirability of Fox Marble’s premium marble products as the stone of choice in some of the most prestigious and expensive residential developments around the world.

Caution regarding forward looking statements

Certain statements in this announcement, are, or may be deemed to be, forward looking statements. Forward looking statements are identified by their use of terms and phrases such as ''believe'', ''could'', "should" ''envisage'', ''estimate'', ''intend'', ''may'', ''plan'', ''potentially'', "expect", ''will'' or the negative of those, variations or comparable expressions, including references to assumptions. These forward looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors

New Sale Agreement

Fox Marble Holdings plc
(“Fox Marble” or the “Company”)

Fox Marble, the AIM listed marble production company with operations in Kosovo and the Balkans, announces that it has signed an agreement to sell €200k  of its Alexandrian White material from its quarry in Prilep, Macedonia.  The buyer is wholesale supplier of material to building projects across Europe.

The first shipment, of 300 tonnes, has been successfully completed and payment has been received.

Chris Gilbert, CEO, commented

“The market for block marble has been subject to significant disruption due to Covid-19.  However, with this agreement and others that are being negotiated and are expected to be announced in due course we are seeing signs of recovery.  We expect to see the benefit of these agreements primarily in 2022.”

This announcement contains inside information for the purposes of Regulation 11 of the Market Abuse (amendment) (EU exit) Regulations 2019/310. The Directors of the Company are responsible for the release of this announcement.

Ends

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

Fox Marble Holdings plc

Chris Gilbert, Chief Executive Officer

Tel: +44 (0)20 7380 0999

Fiona Hadfield, Finance Director

Tel: +44 (0)20 7380 0999

Quatro PR

Gary Pleasants

Tel: +44 (0)207 566 7963/+44 (0)7966 487 739

Mark Herbert

Tel: +44 (0)7770 381608

Brandon Hill (Joint Broker)

Oliver Stansfield

Tel:  +44 (0)20 3463 5000

Allenby Capital (Joint Broker)

Nick Naylor/Nick Athanas/Liz Kirchner (Corporate Finance)

Amrit Nahal (Sales and Corporate Broking)

Tel:  +44 (0)20 3394 2973

Cairn Financial Advisers (Nomad)

Sandy Jamieson/Liam Murray/Ludovico Lazzaretti

Tel: +44 (0)20 7213 0880

Notes to Editors

Fox Marble (AIM: FOX) is a marble production, processing and distribution company with operations in Kosovo and the Balkans.

Its marble products, which include Alexandrian Blue, Alexandrian White, Breccia Paradisea, Etruscan gold and Grigio Argent, are gaining sales globally to wholesale companies and directly to luxury residential properties.  In the UK these include St George’s Homes and Capital and Counties Plc’s Lillie Square development.  In Sydney, Australia, Rosso Cait, Alexandrian White and Breccia Paradisea have been used in what is expected to be Australia’s most expensive residential property.  These sales serve to demonstrate the desirability of Fox Marble’s premium marble products as the stone of choice in some of the most prestigious and expensive residential developments around the world.

Caution regarding forward looking statements

Certain statements in this announcement, are, or may be deemed to be, forward looking statements. Forward looking statements are identified by their use of terms and phrases such as ''believe'', ''could'', "should" ''envisage'', ''estimate'', ''intend'', ''may'', ''plan'', ''potentially'', "expect", ''will'' or the negative of those, variations or comparable expressions, including references to assumptions. These forward looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors

New Contract

Fox Marble Holdings plc
(“Fox Marble” or the “Company”)

Fox Marble, the AIM listed marble production company with operations in Kosovo and the Balkans, announces that it has signed a new contract to provide processed marble to a project in Kosovo.

Fox Marble will provide Alexandrian Blue and Alexandrian White marble from its quarry in Macedonia, which will be processed at Fox Marble’s factory in Lipjan in Kosovo. The value of the contract is expected to be in the region of €100k and will be supplied during the end of 2021 and 2022.

Chris Gilbert, CEO, commented

“This contract to supply our material is a testament to the ongoing work of our staff and team in Kosovo, and further bolsters our order book for the remainder of 2021 and 2022.”

This announcement contains inside information for the purposes of Regulation 11 of the Market Abuse (amendment) (EU exit) Regulations 2019/310. The Directors of the Company are responsible for the release of this announcement.

Ends

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

Fox Marble Holdings plc

Chris Gilbert, Chief Executive Officer

Tel: +44 (0)20 7380 0999

Fiona Hadfield, Finance Director

Tel: +44 (0)20 7380 0999

Quatro PR

Gary Pleasants

Tel: +44 (0)207 566 7963/+44 (0)7966 487 739

Mark Herbert

Tel: +44 (0)7770 381608

Brandon Hill (Joint Broker)

Oliver Stansfield

Tel: +44 (0)20 3463 5000

Allenby Capital (Joint Broker)

Nick Naylor/Nick Athanas/Liz Kirchner (Corporate Finance)

Amrit Nahal (Sales and Corporate Broking)

Tel: +44 (0)20 3394 2973

Cairn Financial Advisers (Nomad)

Sandy Jamieson/Liam Murray/Ludovico Lazzaretti

Tel: +44 (0)20 7213 0880

Notes to Editors

Fox Marble (AIM: FOX) is a marble production, processing and distribution company with operations in Kosovo and the Balkans.

Its marble products, which include Alexandrian Blue, Alexandrian White, Breccia Paradisea, Etruscan gold and Grigio Argent, are gaining sales globally to wholesale companies and directly to luxury residential properties. In the UK these include St George’s Homes and Capital and Counties Plc’s Lillie Square development. In Sydney, Australia, Rosso Cait, Alexandrian White and Breccia Paradisea have been used in what is expected to be Australia’s most expensive residential property. These sales serve to demonstrate the desirability of Fox Marble’s premium marble products as the stone of choice in some of the most prestigious and expensive residential developments around the world.

Caution regarding forward looking statements

Certain statements in this announcement, are, or may be deemed to be, forward looking statements. Forward looking statements are identified by their use of terms and phrases such as ''believe'', ''could'', "should" ''envisage'', ''estimate'', ''intend'', ''may'', ''plan'', ''potentially'', "expect", ''will'' or the negative of those, variations or comparable expressions, including references to assumptions. These forward looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors

Interim Results for the six months ended 30 June 2021

Read more

Update on Fox Marble’s €195M Arbitration Proceedings against Republic of Kosovo

Fox Marble Holdings plc
(“Fox Marble” or the “Company”)

Fox Marble, the AIM listed marble production company with operations in Kosovo and the Balkans, announces that, further to the announcement of 19 May 2021, it has received the formal opinion of eminent English Barrister and Queen’s Counsel, Samuel Wordsworth QC of Essex Court Chambers. 

He has submitted his opinion in respect of the Company’s €195M claim against the Republic of Kosovo claim being advanced by Dentons Europe CS LLP.

Mr. Wordsworth QC’s opinion supports the Company’s claim that the Republic of Kosovo has breached the provisions of the Kosovo Investment Law, and it is his view that an international arbitral tribunal will have jurisdiction to decide the Company’s claim under that Law.

The Company’s legal team has now identified Fox Marble’s choice of arbitrator of the three that will sit and adjudicate the claim and will be notifying such choice to the Republic of Kosovo shortly.

Chris Gilbert, CEO of Fox Marble Holdings, commented:

“We are pleased to receive Mr Wordsworth QC’s opinion in support of our case. Mr. Wordsworth QC is one of England’s leading silks who has market leading experience in cases involving States, and has a particular expertise in investor-State arbitration cases.  His strong reputation and impressive achievements, particularly in investor-state arbitration cases, will further strengthen the pursuit of our claim.”

Background to legal proceedings

On 4 September 2019, Fox Marble launched United Nations Commission on International Trade (UNCITRAL) arbitration proceedings against the Republic of Kosovo for damages in excess of €195M as a result of the failure of the state to protect Fox Marble’s rights over the Malesheve quarry.

The Company believes the Kosovan Government to be in clear breach of its responsibilities towards the Company as a foreign investor in Kosovo and that this action is in the best interests of its shareholders and employees.

On 16 December 2020, Fox Marble announced the appointment of Dentons Europe CS LLP as legal counsel for the €195M proceedings against the Republic of Kosovo and the Company also secured firm commitments of a further £0.5M in the form of litigation funding from private investors.

Further announcements will be made in due course.

This announcement contains inside information for the purposes of Regulation 11 of the Market Abuse (amendment) (EU exit) Regulations 2019/310. The Directors of the Company are responsible for the release of this announcement.

Ends

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

Fox Marble Holdings plc

Chris Gilbert, Chief Executive Officer

Tel: +44 (0)20 7380 0999

Fiona Hadfield, Finance Director

Tel: +44 (0)20 7380 0999

Quatro PR

Gary Pleasants

Tel: +44 (0)207 566 7963/+44 (0)7966 487 739

Mark Herbert

Tel: +44 (0)7770 381608

Brandon Hill (Joint Broker)

Oliver Stansfield

Tel:  +44 (0)20 3463 5000

Allenby Capital (Joint Broker)

Nick Naylor/Nick Athanas/Liz Kirchner (Corporate Finance)

Amrit Nahal (Sales and Corporate Broking)

Tel:  +44 (0)20 3394 2973

Cairn Financial Advisers (Nomad)

Sandy Jamieson/Liam Murray/Ludovico Lazzaretti

Tel: +44 (0)20 7213 0880

Notes to Editors

Fox Marble (AIM: FOX) is a marble production, processing and distribution company with operations in Kosovo and the Balkans.

Its marble products, which include Alexandrian Blue, Alexandrian White, Breccia Paradisea, Etruscan gold and Grigio Argent, are gaining sales globally to wholesale companies and directly to luxury residential properties.  In the UK these include St George’s Homes and Capital and Counties Plc’s Lillie Square development.  In Sydney, Australia, Rosso Cait, Alexandrian White and Breccia Paradisea have been used in what is expected to be Australia’s most expensive residential property.  These sales serve to demonstrate the desirability of Fox Marble’s premium marble products as the stone of choice in some of the most prestigious and expensive residential developments around the world.

Caution regarding forward looking statements

Certain statements in this announcement, are, or may be deemed to be, forward looking statements. Forward looking statements are identified by their use of terms and phrases such as ''believe'', ''could'', "should" ''envisage'', ''estimate'', ''intend'', ''may'', ''plan'', ''potentially'', "expect", ''will'' or the negative of those, variations or comparable expressions, including references to assumptions. These forward looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors

Result of AGM

Fox Marble Holdings plc
("Fox Marble" or the "Company")

Fox Marble announces that at its AGM held today, all resolutions were duly passed. 

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

Fox Marble Holdings plc

Chris Gilbert, Chief Executive Officer

Tel: +44 (0) 20 7380 0999

Fiona Hadfield, Finance Director

Tel: +44 (0) 20 7380 0999

Brandon Hill Capital (Joint Broker)

Oliver Stansfield

Tel: +44 (0) 20 3463 5000

Allenby Capital (Joint Broker)

Amrit Nahal/Nick Naylor

 Tel: +44 (0) 20 3394 2973

Cairn Financial Advisers LLP (Nomad)

 Liam Murray

Sandy Jamieson

Tel: +44 (0) 20 7213 0880

Notes to Editors

Fox Marble (AIM: FOX), is a marble production, processing and distribution company in Kosovo and the Balkans region.  

Its marble products, which includes Alexandrian Blue, Alexandrian White, Breccia Paradisea, Etruscan gold and Grigio Argento and are gaining sales globally both to international wholesale companies as well as being supplied directly into luxury residential properties. In the UK these include among others St George's Homes and Capital and Counties Plc's Lillie Square development. In Sydney, Australia Rosso Cait, Alexandrian White and Breccia Paradisea marble have been used in what is expected to be Australia's most expensive residential property. These sales serve to demonstrate the desirability of Fox's premium marble products as the stone of choice in some of the most prestigious and expensive residential developments around the world.

Final Results for the year ended 31 December 2020 and Notice of General Meeting

Read more

Update on Fox Marble’s €195M Arbitration Proceedings against Republic of Kosovo

Fox Marble Holdings plc
("Fox Marble" or the "Company")

Fox Marble, the AIM listed marble production company with operations in Kosovo and the Balkans, has further strengthened its legal team with the appointment of eminent British Barrister and Queens Counsel, Samuel Wordsworth QC of Essex Court Chambers.  He will complement the existing legal team, led by Dentons Europe CS LLP, the world’s largest law firm by number of lawyers, in support of the Company’s €195M claim against the Republic of Kosovo.

Mr Wordsworth is a highly regarded specialist in investor-state arbitration, public international law and international arbitration.  He is regularly instructed by governments and has appeared before numerous international tribunals (For more information go to https://www.essexcourt.com/barrister/Samuel-wordsworth-qc).

Chris Gilbert, CEO of Fox Marble Holdings, commented:

“We are pleased to welcome Mr Wordsworth aboard. His strong reputation and impressive achievements, particularly in investor-state arbitration cases, will further boost the best-in—class legal team Fox Marble has already assembled.

As previously announced, we have already sourced all the required litigation funding to cover expected costs throughout the whole of the Arbitration proceedings and believe the anticipated finding in the Company’s favour will unlock material value to shareholders.

Legal proceedings will commence imminently following the nomination of the Company’s Arbitration panellist, which is expected to take place this quarter.”

Background to legal proceedings

On 4 September 2019, Fox Marble launched United Nations Commission on International Trade (UNCITRAL) arbitration proceedings against the Republic of Kosovo for damages in excess of €195M as a result of the failure of the state to protect Fox Marble’s rights over the Malesheve quarry.

The Company believes the Kosovan Government to be in clear breach of its responsibilities towards the Company as a foreign investor in Kosovo and that this action is in the best interests of its shareholders and employees.

On 16 December 2020, Fox Marble announced the appointment of Dentons Europe CS LLP as legal counsel for the €195M proceedings against the Republic of Kosovo and the Company also secured firm commitments of a further £0.5M in the form of litigation funding from private investors.

Further announcements will be made in due course.

This announcement contains inside information for the purposes of Regulation 11 of the Market Abuse (amendment) (EU exit) Regulations 2019/310.

Ends

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

Fox Marble Holdings plc

Chris Gilbert, Chief Executive Officer

Tel: +44 (0)20 7380 0999

Fiona Hadfield, Finance Director

Tel: +44 (0)20 7380 0999

Quatro PR

Gary Pleasants

Tel: +44 (0)207 566 7963/+44 (0)7966 487 739

Mark Herbert

Tel: +44 (0)7770 381608

Brandon Hill (Joint Broker)

Oliver Stansfield

Tel:  +44 (0)20 3463 5000

Allenby Capital (Joint Broker)

Nick Taylor/Nick Athanas/Liz Kirchner (Corporate Finance)

Amrit Nahal (Sales and Corporate Broking)

Tel:  +44 (0)20 3394 2973

Cairn Financial Advisers (Nomad)

Liam Murray/Sandy Jamieson

Tel: +44 (0)20 7213 0880

Notes to Editors

Fox Marble (AIM: FOX) is a marble production, processing and distribution company with operations in Kosovo and the Balkans.

Its marble products, which include Alexandrian Blue, Alexandrian White, Breccia Paradisea, Etruscan gold and Grigio Argent, are gaining sales globally to wholesale companies and directly to luxury residential properties.  In the UK these include St George’s Homes and Capital and Counties Plc’s Lillie Square development.  In Sydney, Australia, Rosso Cait, Alexandrian White and Breccia Paradisea have been used in what is expected to be Australia’s most expensive residential property.  These sales serve to demonstrate the desirability of Fox Marble’s premium marble products as the stone of choice in some of the most prestigious and expensive residential developments around the world.

Director Appointment

Fox Marble Holdings plc
("Fox Marble" or the "Company")

Fox Marble, the AIM listed company focused on marble quarrying and processing in Kosovo and the Balkans region is pleased to announce that Sir Mark Lyall Grant will be joining the board as a Non-executive Director from 3 April 2022.

Sir Mark is one of the United Kingdom's most senior public servants, with more than 30 years of experience in leadership, policy making, negotiation and public presentation. He has held diplomatic postings on four continents, including High Commissioner to Pakistan and Ambassador to the United Nations. He was National Security Adviser to the Prime Minister from 2015 to 2017. He is currently a visiting professor at King's College London, and a Consultancy Adviser on National and International Security.  He is a qualified barrister and was appointed to the Bench of Middle Temple in 2011.

Andrew Allner, Chairman, commented: 

"We are pleased to welcome Sir Mark to the Board and look forward to leveraging his wealth of experience. This appointment comes at an important time for the Company and the Board looks forward to updating the market on progress made between now and the end of the year."

Further information pursuant to Rule 17, Schedule 2 (g) of the AIM Rules is set out below.

Sir Mark Justin Lyall Grant (aged 65) has held the following current and former directorships in the past five years:

Current Directorships

Lyall Grant Consulting Limited

Former Directorships in the past five years

None

Sir Mark does not hold any shares or options in the Company.

There is no other information regarding Sir Mark Lyall Grant required to be disclosed under the AIM Rules.

Ends

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

Fox Marble Holdings plc

Chris Gilbert, Chief Executive Officer

Tel: +44 (0)20 7380 0999

Fiona Hadfield, Finance Director

Tel: +44 (0)20 7380 0999

Quatro PR

Gary Pleasants

Tel: +44 (0)207 566 7963/+44 (0)7966 487 739

Mark Herbert

Tel: +44 (0)7770 381608

Allenby Capital Limited (Joint Broker)

Nick Naylor/Nick Athanas/Liz Kirchner (Corporate Finance)

Amrit Nahal (Sales and Corporate Broking)

Tel: +44 (0)20 3394 2973

Tavira Securities Limited (Joint Broker)

Oliver Stansfield/Jonathan Evans

+44 (0)203 192 1739

Cairn Financial Advisers (Nomad)

Liam Murray/Sandy Jamieson/Ludovico Lazzaretti

Tel: +44 (0)20 7213 0880

Notes to Editors

Fox Marble (AIM: FOX) is a marble production, processing and distribution company with operations in Kosovo and the Balkans.

Its marble products, which include Alexandrian Blue, Alexandrian White, Breccia Paradisea, Etruscan gold and Grigio Argent, are gaining sales globally to wholesale companies and directly to luxury residential properties. In the UK these include St George's Homes and Capital and Counties Plc's Lillie Square development. In Sydney, Australia, Rosso Cait, Alexandrian White and Breccia Paradisea have been used in what is expected to be Australia's most expensive residential property. These sales serve to demonstrate the desirability of Fox Marble's premium marble products as the stone of choice in some of the most prestigious and expensive residential developments around the world.

Caution regarding forward looking statements

Certain statements in this announcement, are, or may be deemed to be, forward looking statements. Forward looking statements are identified by their use of terms and phrases such as ''believe'', ''could'', "should" ''envisage'', ''estimate'', ''intend'', ''may'', ''plan'', ''potentially'', "expect", ''will'' or the negative of those, variations or comparable expressions, including references to assumptions. These forward looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors.

New order of processed marble confirmed

Fox Marble Holdings plc
("Fox Marble" or the "Company")

Fox Marble, the AIM listed company focused on marble quarrying and processing in Kosovo and the Balkans region is pleased to announce that it has signed its fourth contract in less than a year to supply a major municipal construction project in Kosovo.  The contract, valued in excess of €190,000, is to deliver cut and finished paving tiles for installation in the first stage of the redevelopment of the town square in Kamenica, eastern Kosovo.  

The 6,500sq metres of cut and finished paving tiles will be supplied over the course of 2021 using material from Fox Marble’s quarries processed in its factory in Lipjan, Kosovo. This contract has been entered into with the developers charged with restoring the town square, which will be paved with material exclusively supplied by Fox Marble.

Chris Gilbert, CEO, commented

“This contract to supply paving tiles to a Municipality is the fourth such large contract Fox Marble has won since May 2020 and the second one this year alone.  

“Our marble comes from our quarries in Kosovo and North Macedonia and we are proud to supply locally quarried and processed stone to another important municipal development.  These contracts provide a visible example of the quality of both the material and the Company’s finished stone product.

“We are grateful to our dedicated workforce who have contributed so fully to improving the rate of production in our factory allowing us to fulfil these substantial contracts within our existing operating setup and look forward to updating the market as we continue to win more new business in 2021.”

This announcement contains inside information for the purposes of Regulation 11 of the Market Abuse (amendment) (EU exit) Regulations 2019/310.

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

Fox Marble Holdings plc

Chris Gilbert, Chief Executive Officer

Tel: +44 (0) 20 7380 0999

Fiona Hadfield, Finance Director

Tel: +44 (0) 20 7380 0999

Brandon Hill Capital (Joint Broker)

Oliver Stansfield

Tel: +44 (0) 20 3463 5000

Allenby Capital (Joint Broker)

Nick Naylor/Nick Athanas/Liz Kirchner (Corporate Finance)

Amrit Nahal (Sales and Corporate Broking)

Tel: +44 (0) 20 3394 2973

Cairn Financial Advisers LLP (Nomad)

Liam Murray / Sandy Jamieson

Tel: +44 (0) 20 7213 0880

Notes to Editors

Fox Marble (AIM: FOX), is a marble production, processing and distribution company in Kosovo and the Balkans region.  

Its marble products, which includes Alexandrian Blue, Alexandrian White, Breccia Paradisea, Etruscan gold and Grigio Argento and are gaining sales globally both to international wholesale companies as well as being supplied directly into luxury residential properties. In the UK these include among others St George’s Homes and Capital and Counties Plc’s Lillie Square development. In Sydney, Australia Rosso Cait, Alexandrian White and Breccia Paradisea marble have been used in what is expected to be Australia’s most expensive residential property. These sales serve to demonstrate the desirability of Fox’s premium marble products as the stone of choice in some of the most prestigious and expensive residential developments around the world. 

Caution regarding forward looking statements

Certain statements in this announcement, are, or may be deemed to be, forward looking statements. Forward looking statements are identified by their use of terms and phrases such as ''believe'', ''could'', "should" ''envisage'', ''estimate'', ''intend'', ''may'', ''plan'', ''potentially'', "expect", ''will'' or the negative of those, variations or comparable expressions, including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors.

TR-1 Notification of major interest in shares

Read more

Update on €195M Arbitration Proceedings against Republic of Kosovo

Fox Marble Holdings plc
("Fox Marble" or the "Company")

Fox Marble, the AIM listed company focused on marble quarrying and processing in Kosovo and the Balkans region is pleased to announce that eminent British Barrister and Queen’s Counsel, Simon Nesbitt QC (of the Maitland Chambers in London) has been retained to act on Fox Marble’s behalf in support of the ongoing case against the Republic of Kosovo. Mr Nesbitt QC practises exclusively in the field of international arbitration often involved in some of the world’s largest and most high-profile disputes (https://www.maitlandchambers.com/barristers/simon-nesbitt).

Mr Nesbitt QC now joins Dentons Europe CS LLP, the world’s largest law firm by number of lawyers, as part of the legal team acting on the Company’s behalf in its €195M claim against the Republic of Kosovo. As previously announced, the Company has already sourced the required capital to cover all expected costs throughout the Arbitration proceedings.

Fox Marble will now nominate its choice of Arbitration panellist as a final step ahead of the commencement of litigation proceedings. This is well advanced and the Company expects to make it’s submission within the next few days.

In support of its recovery strategy Fox Marble has also now engaged Kroll Associates, another market leader in their field with circa 5,000 professionals operating in 30 countries, to identify and investigate the assets that are owned and under the control of the Republic of Kosovo both within the country and overseas. This will help satisfy any future judgement made in favour of Fox Marble in a timely manner.

Chris Gilbert, CEO of Fox Marble Holdings plc, commented:

“The Company and its advisors continue to strongly believe in the merits of Fox Marble’s €195M case against the Republic of Kosovo. We welcome the appointment of Mr Nesbitt QC to the legal team and look forward to the commencement of legal proceedings following the imminent nomination of the Company’s Arbitration panellist.”

Background to Legal Proceedings

On 4 September 2019, Fox Marble launched United National Commission on International Trade Law (UNCITRAL) arbitration proceedings, against the Republic of Kosovo for damages in excess of €195 million, as a result of the failure of the State to protect Fox Marble's rights over the Maleshevë quarry.

The company believes the Kosovan Government to be in clear breach of its responsibilities towards the Company as a foreign investor in Kosovo and that this action is in the best interests of its shareholders and employees.

On 16 December 2020, Fox Marble announced the appointment of Dentons Europe CS LLP as legal counsel for €195 million arbitration proceedings against Republic of Kosovo and the Company also secured firm commitments of a further £0.5 million in the form of litigation funding from private investors.

Further announcements will be made in due course.

This announcement contains inside information for the purposes of Regulation 11 of the Market Abuse (amendment) (EU exit) Regulations 2019/310.

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

Fox Marble Holdings plc

Chris Gilbert, Chief Executive Officer

Tel: +44 (0) 20 7380 0999

Fiona Hadfield, Finance Director

Tel: +44 (0) 20 7380 0999

Brandon Hill Capital (Joint Broker)

Oliver Stansfield

Tel: +44 (0) 20 3463 5000

Allenby Capital (Joint Broker)

Nick Naylor/Nick Athanas/Liz Kirchner (Corporate Finance)

Amrit Nahal (Sales and Corporate Broking)

Tel: +44 (0) 20 3394 2973

Cairn Financial Advisers LLP (Nomad)

Liam Murray / Sandy Jamieson

Tel: +44 (0) 20 7213 0880

Notes to Editors

Fox Marble (AIM: FOX), is a marble production, processing and distribution company in Kosovo and the Balkans region.  

Its marble products, which includes Alexandrian Blue, Alexandrian White, Breccia Paradisea, Etruscan gold and Grigio Argento and are gaining sales globally both to international wholesale companies as well as being supplied directly into luxury residential properties. In the UK these include among others St George’s Homes and Capital and Counties Plc’s Lillie Square development. In Sydney, Australia Rosso Cait, Alexandrian White and Breccia Paradisea marble have been used in what is expected to be Australia’s most expensive residential property. These sales serve to demonstrate the desirability of Fox’s premium marble products as the stone of choice in some of the most prestigious and expensive residential developments around the world.