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Change of Auditor
Eco Buildings Group PLC (ECOB), the UK-quoted modular housing company, announces the appointment of Shipleys LLP as its new external auditor to replace PKF Littlejohn LLP (“PKF”). PKF have confirmed that there are no circumstances connected with their resignation which they consider should be brought to the attention of the Company's members or creditors in accordance with Section 519 of the Companies Act 2006
Certain information contained within this Announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 ("MAR") as applied in the United Kingdom. Upon publication of this Announcement, this information is now considered to be in the public domain.
03 May 2024
Eco Buildings Group plc
(the "Company" or the "Group")
Change of Auditor
Eco Buildings Group PLC (ECOB), the UK-quoted modular housing company, announces the appointment of Shipleys LLP as its new external auditor to replace PKF Littlejohn LLP (“PKF”). PKF have confirmed that there are no circumstances connected with their resignation which they consider should be brought to the attention of the Company's members or creditors in accordance with Section 519 of the Companies Act 2006
Further information is available on Eco Buildings website: www.eco-buildings.net
For more information contact:
Eco Buildings Group plc
Sanjay Bowry, Chief Executive Officer
Fiona Hadfield, Finance Director
Tel: +44 (0) 207 380 0999
Spark Advisory Partners Limited (Nominated Adviser)
Matt Davis / James Keeshan
Tel: +44 (0) 203 368 3550
Tavira Securities Limited (Broker)
Oliver Stansfield / Jonathan Evans
Tel: +44 (0) 203 192 1739
Notes
The Company has acquired proven and innovative prefabricated technology which has been in development and commercial use since 2006. Eco Buildings' range of prefabricated, green housing products based on glass fibre reinforced gypsum panels ("GFRG") provides a construction solution for both affordable and high-end housing.
Eco Buildings has already secured two sales contracts with major construction companies, one in Albania, the other in Kosovo, which are expected to generate gross sales revenue of approximately up to €38 million in total per annum over the first three years (approximately €114 million in total) following Admission.
The market share for factory-based building technology is expected to grow significantly over the coming years as private developers and the public sector seek to address the substantial and growing deficit in housing stock and issues of construction cost, speed and quality and housing affordability.
Group Receives Official Certification for Latin American Markets
Eco Buildings Group Limited (AIM: ECOB), the UK-quoted modular housing company, is pleased to announce that the government-approved testing department at the Catholic University of Chile in Santiago, has informed the Company that its wall panels, have successfully passed the government's rigorous testing program for use in its construction market.
RNS REACH
18 April 2024
Eco Buildings Group plc
(the "Company" or the "Group")
Group Receives Official Certification for Latin American Markets
Highlights
· The Group's walls have been approved for use under national building regulations in Chile, following a full range of stress tests.
· Certification from this noted testing centre in Santiago is accepted by countries across Central and South America enabling market access across Latin America
Eco Buildings Group Limited (AIM: ECOB), the UK-quoted modular housing company, is pleased to announce that the government-approved testing department at the Catholic University of Chile in Santiago, has informed the Company that its wall panels, have successfully passed the government's rigorous testing program for use in its construction market.
This noteworthy development is the result of months of meticulous testing that began back in July 2023 where the Group's building materials were subjected to the most extensive evaluations for strength, durability, fire-resistance, sound insulation and structural integrity. The results from the Catholic University testing center surpassed their stringent standards on all test variables, demonstrating the reliability and adaptability required to meet the exacting building regulation standards governing the construction industry in the region.
As a result of this performance success in Chile, it is the Company's understanding that its walls will also be deemed compliant across a substantial number of Latin American markets, allowing for significant future growth prospects in Chile and across the wider region. The full 40-page report will soon be made available on our website, www.eco-buildings.net.
Sanjay Bowry, CEO, Eco Buildings commenting on this exciting development, "Obtaining approval in a market with such exacting standards as Chile, is a significant milestone for Eco Buildings Group. It re-affirms the quality of our product offering as well as allowing us to accelerate efforts to sign new opportunities for growth in Chile, and elsewhere in Latin America. This opportunity is expected to complement our existing €114M order book in Europe, into which the Company expects to shortly commence deliveries from its recently upgraded factory in Albania.
I look forward to updating the market on these operations and delivery progress as well as further progress for the Company across production improvements and contract wins in the coming weeks as Eco continues to penetrate the world's modular housing markets."
Further information is available on Eco Buildings website: www.eco-buildings.net
For more information contact:
Eco Buildings Group plc
Sanjay Bowry, Chief Executive Officer
Fiona Hadfield, Finance Director
Tel: +44 (0) 207 380 0999
Spark Advisory Partners Limited (Nominated Adviser)
Matt Davis / James Keeshan
Tel: +44 (0) 203 368 3550
Tavira Securities Limited (Broker)
Oliver Stansfield / Jonathan Evans
Tel: +44 (0) 203 192 1739
About Reach announcements
Reach is an investor communication service aimed at assisting listed and unlisted (including AIM quoted) companies to distribute media only/non-regulatory news releases such as marketing messages, corporate and product information into the public domain. An RNS Regulatory announcement is required to be notified under the AIM Rules for Companies.
Notes
The Company has acquired proven and innovative prefabricated technology which has been in development and commercial use since 2006. Eco Buildings' range of prefabricated, green housing products based on glass fibre reinforced gypsum panels ("GFRG") provides a construction solution for both affordable and high-end housing.
Eco Buildings has already secured two sales contracts with major construction companies, one in Albania, the other in Kosovo, which are expected to generate gross sales revenue of approximately up to €38 million in total per annum over the first three years (approximately €114 million in total) following Admission.
The market share for factory-based building technology is expected to grow significantly over the coming years as private developers and the public sector seek to address the substantial and growing deficit in housing stock and issues of construction cost, speed and quality and housing affordability.
Non-Executive Director Etrur Albani Appointed Executive Vice Chairman
Eco Buildings Group Limited (ECOB), the UK-quoted modular housing company, is pleased to announce that Dr Etrur Albani, co-founder and non-executive board member, has agreed to assume a full-time role as the Group’s Executive Vice Chairman. In his new role, Dr Albani will be responsible for managing existing client relationships as well as developing new contracts, working with CEO Sanjay Bowry in setting and maintaining the Company’s strategy on how best to capture the rapidly growing demand for modular housing worldwide in general, and for the Group’s innovative product offering in particular.
Certain information contained within this Announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 ("MAR") as applied in the United Kingdom. Upon publication of this Announcement, this information is now considered to be in the public domain.
15 April 2024
Eco Buildings Group plc
(the "Company" or the "Group")
Board Change Non-Executive Director Etrur Albani Appointed Executive Vice Chairman
Eco Buildings Group Limited (ECOB), the UK-quoted modular housing company, is pleased to announce that Dr Etrur Albani, co-founder and non-executive board member, has agreed to assume a full-time role as the Group’s Executive Vice Chairman. In his new role, Dr Albani will be responsible for managing existing client relationships as well as developing new contracts, working with CEO Sanjay Bowry in setting and maintaining the Company’s strategy on how best to capture the rapidly growing demand for modular housing worldwide in general, and for the Group’s innovative product offering in particular.
Dr Albani has a PhD in High Speed Communication Devices and has been pivotal in commissioning the Group’s manufacturing system for automated wall panel production and delivery into the Group’s standing 3-year, €114M order book in the region. In addition, Dr Albani’s understanding of the Company’s manufacturing materials and processes have aided his efforts to introduce Eco Buildings’ housing solution to new markets.
Dr Etrur Albani, Incoming Executive Vice Chairman, Eco Buildings, “I have always believed in the potential for the modular housing sector and Eco’s role within this sector. Eco’s is uniquely positioned with a process that creates robust housing materials that are both low cost and of the highest ecological specifications. Therefore in consultation with the Board, I have agreed that one way to help the Company more efficiently capture its rightful share of this worldwide opportunity, is for me to formally dedicate myself to the Company as Executive Vice Chair.
As the Company’s largest shareholder, I want to assure our long-supporting as well as potential investors, that my efforts will be keenly focused on creating shareholder value and improving the performance of our shares. Your trust and investment in our company are paramount and I am committed to working diligently towards our collective success.”
Don Nicolson, Chairman, Eco Buildings said, "On behalf of myself and the entire Eco Buildings’ board, I want to thank Etrur for agreeing to assume a senior, executive role at the Company. He has been critical to the team’s efforts to date commissioning our production facilities while simultaneously developing new relationships in new markets. Having him now as Executive Vice Chair, where he can be directly assist Sanjay in setting strategy and developing new markets for our products, will be good for all stakeholders”
Further information is available on Eco Buildings website: www.eco-buildings.net
For more information contact:
Eco Buildings Group plc
Sanjay Bowry, Chief Executive Officer
Fiona Hadfield, Finance Director
Tel: +44 (0) 207 380 0999
Spark Advisory Partners Limited (Nominated Adviser)
Matt Davis / James Keeshan
Tel: +44 (0) 203 368 3550
Tavira Securities Limited (Broker)
Oliver Stansfield / Jonathan Evans
Tel: +44 (0) 203 192 1739
Notes
The Company has acquired proven and innovative prefabricated technology which has been in development and commercial use since 2006. Eco Buildings' range of prefabricated, green housing products based on glass fibre reinforced gypsum panels (“GFRG”) provides a construction solution for both affordable and high-end housing.
Eco Buildings has already secured two sales contracts with major construction companies, one in Albania, the other in Kosovo, which are expected to generate gross sales revenue of approximately up to €38 million in total per annum over the first three years (approximately €114 million in total) following Admission.
The market share for factory-based building technology is expected to grow significantly over the coming years as private developers and the public sector seek to address the substantial and growing deficit in housing stock and issues of construction cost, speed and quality and housing affordability.
Board Changes
18 January 2024
Certain information contained within this Announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 ("MAR") as applied in the United Kingdom. Upon publication of this Announcement, this information is now considered to be in the public domain.
Eco Buildings Group plc
(the "Company" or the "Group")
Board Changes
Eco Buildings Group plc (the “Company” or the "Group") is pleased to announce the following board changes that the Board believes marks a new chapter in its journey towards sustainable growth and success.
Board Change – Retirement of Andrew Allner
Andrew Allner served as Chairman of Fox Marble Holdings PLC for over 12 years and continued as Chairman of Eco Buildings Group PLC following the RTO. He now feels, following the completion of the RTO, the relocation of the Company’s factory from Dubai to Durres, and the successful production of our first wall that now is the time for him to retire. He has played a pivotal role in leading the Board and Company through a transformative period and the Company extends its gratitude for his invaluable contribution throughout his tenure.
Appointment of Don Nicolson as Chair with Handover Period
Eco Buildings is pleased to announce that Don Nicolson has been appointed to take on the role of non-Executive Chairman. Don is a senior business leader with 40 years experience in a range of sectors, both in the UK and internationally. He has held multiple executive and non-executive roles in both publicly listed and private companies. Don spent 26 years at BP, where senior roles included Director North Sea and Chief of Staff to BP’s E&P CEO. Other notable roles include, Chairman and interim CEO for Spain’s Levantina Natural Stone Company, E&P Advisory Board member for SSE plc and Independent non-Executive Director for Scirocco Energy plc. Don is currently Non-Executive Chairman of Zenova Group plc.
To ensure a smooth transition, a handover period will take place until the end of February, during which Andrew and Don will collaborate closely to transfer responsibilities and knowledge.
Dismissal of Dominic Redfern
The Company confirms the immediate dismissal of Dominic Redfern, Executive Vice Chairman, for cause. This decision aligns with our commitment to upholding the highest standards of conduct within our organisation.
Confidence in Future Growth
As we bid farewell to Andrew Allner, we express our heartfelt thanks for his significant contributions to the Group over the last twelve years. Don Nicolson, with his wealth of operational experience, steps in to steer Eco Buildings, as we transition into full production at the new Durres factory. We remain confident in our trajectory in the modular housing sector, and a positive future for Eco Buildings Group PLC.
Outgoing Chairman Andrew Allner, “I have very much enjoyed my time at Fox Marble and at Eco Buildings. We have faced a number of challenges over the years and whilst business has not been easy Fox Marble is now showing signs of stabilisation. I believe that the modular building sector will see significant future growth and opportunity across the world and that Eco Buildings is well positioned to take advantage of these trends and create value for shareholders. I am very pleased that Don Nicolson, with his extensive business experience, is taking over from me and I wish him and the Company the best of luck.”
Don Nicolson, incoming Non-Executive Chairman at Eco Buildings, "I have been familiar with Eco Buildings since well before the RTO, I'm honoured to lead the Company through its next developmental strides. Leveraging the substantial order book, we aim to accelerate growth, which is a key strategic focus for the Company. I extend my gratitude to Andrew for steering the Company to this stage, allowing me to guide the Company on delivering orders in Albania and expanding into new markets. "
Sanjay Bowry, CEO of Eco Buildings, states, "I express my sincere gratitude to Andrew for his invaluable advice, instrumental in propelling Eco Buildings to this critical pre-full-production stage. I warmly welcome Don to our Board, anticipating a collaborative effort to tap into tremendous growth opportunities for eco-friendly, modular housing on a global scale. Together, with Don's wealth of strategic, commercial and operational experience, we are poised for substantial success, making this news exciting for all our stakeholders."
For more information on Eco Buildings, please visit
www.eco-buildingsplc.com or contact:
Eco Buildings Group plc
Sanjay Bowry, Chief Executive Officer
Fiona Hadfield, Finance Director
Tel: +44 (0)20 7380 0999
Nominated Adviser: Spark Advisory Partners Limited
Matt Davis / James Keeshan
Tel: +44 (0)20 3368 3550
Broker: Tavira Financial Limited
Oliver Stansfield / Jonathan Evans
Tel: +44 (0)20 3192 1739
AIM Rules Schedule 2(g) disclosures
The following information is disclosed in accordance with Rule 17 and paragraph (g) of Schedule 2 of the AIM Rules for Companies in connection with the appointment of Donald Oag Nicolson, aged 63, to the Board of the Company.
Current directorships
Zenova Group Plc
Past directorships (held within the last five years)
Scirocco Energy Plc
Zenova Distribution Ltd
Zenova Ltd
Levantina Y Asociados De Minerales, S.A.U.
There are no further disclosures required in accordance with Rule 17 or Schedule 2(g) of the AIM Rules.