REG - Eco Buildings Group - Interim Results
30/09/2025 07:00
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RNS Number : 2883B Eco Buildings Group PLC 30 September 2025
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.
30 September 2025
Eco Buildings Group PLC
("Eco" or "Eco Buildings" or the "Company")
Interim Results for the six months ended 30 June 2025
Eco Buildings Group PLC (AIM: ECOB), announces its unaudited interim results
for the six months ended 30 June 2025.
Operational Highlights
· Over the six months to 30 June 2025 the Company's production line
in Albania produced as planned over 42,000 sqm of walls operating on a single
shift basis.
· In September 2025, the Company announced that it had signed a new
contract to construct a luxury low-rise apartment block comprising 18 single
dwellings, each averaging 100 square meters. Following the construction of
this first apartment block, the Company has a letter of intent in place to
build another two identical apartment blocks in Q1-Q2 next year. Each
apartment block is anticipated to generate €2.2 million in revenue.
· In February 2025 the Company achieved CE marking (Conformite
Europeenne) for its products for use throughout the European Community. The CE
mark allows its products to be made commercially available within the EU and
opens up these markets where there is considerable demand already generated.
· The Company completed two show homes in Chile in early 2025. The
construction of these properties was part of the due diligence process being
undertaken by the Chilean government ahead of confirmation of its commitment
to enter into a long-term manufacturing and supply contract for modular
housing, This initiative is aligned with the government's broader social
housing programme and also provided an opportunity to further market Eco's
products in the region.
· In April 2025 Eco Buildings Group Albania, was awarded the ISO
14001:2015 certification for its Environmental Management System (EMS). This
internationally recognized standard underscores the Group's unwavering
commitment to environmental stewardship and sustainable business practices.
Financial Highlights
· Revenue for the six months to 30 June 2025 increased to €1.8
million (H1 2024: €0.2 million) including the first revenues recognised from
the sale of GFRG panelling.
· The Company made a marginal loss of €0.062 million a material
improvement compared to H1 2024 (€1.1 million loss)
Operational Update
Operating Update for the period to 30 June 2025
Operational Milestones
The Company focus in the six months to 30 June 2025 has been the operations of
the factory in Durres. Eco has produced over 42,000 square metres of walling
product over the last six months to 30 June 2025 for use in construction
projects in Albania and overseas.
As production levels at the factory expand, the group has invested in careful
planning to ensure that growth does not come at the expense of the quality of
our products. Rapid increases in the rate of production can bring pressure to
streamline processes, but maintaining high standards is central to our brand
and ethos. By investing in robust quality control systems, and efficient
workflows, the factory has increased capacity while safeguarding the
consistency and reliability of its products.
Equally important is ensuring high standards are embedded in the Company's
factory culture. Clear quality guidelines, rigorous checks at every stage of
production, and ongoing monitoring allow the business to maintain high quality
standards. Training new staff is central to this strategy. As Eco's
workforce continues to grow and we anticipate the deployment of teams to the
proposed new production lines, comprehensive training and continuous skills
development help new employees operate to the Company's high standards.
To demonstrate our commitment to high standards the company has in the last
six months achieved two significant certifications:
· In February 2025 the Company achieved CE marking (Conformite
Europeenne) for its products for use throughout the European Community. CE
marking allows a product to be legally sold throughout the European Economic
Area (EEA). CE marking means you don't need separate national approvals,
reducing barriers to entry, allowing wider opportunities throughout Europe
whilst providing confidence in our products.
· In April 2025 Eco Buildings Group Albania, was awarded the ISO
14001:2015 certification for its Environmental Management System (EMS). This
an international standard developed by the International Organization for
Standardization (ISO). This achievement demonstrates the company's commitment
to sustainability while enhancing trust with consumer partner and regulators.
Sales development
In the six month period to 30 June 2025 the Company recorded sales of €1.8
million, driven by significant sales efforts and the hard work of our
operations team to increase rates of panel production
This month we announced the award of a new contract to construct a luxury
low-rise apartment block comprising 18 residences, each averaging 100 square
meters. Following completion of this first building, the Company has secured a
letter of intent to deliver an additional two identical apartment blocks
during Q1-Q2 of next year. Further negotiations are in progress for the
construction of three more apartment blocks, which would bring the total to
six once the initial phase is completed.
The Board of Eco Buildings views this project as a stepping stone towards a
larger villa development in Albania, anticipated to begin following the
delivery of the six apartment blocks. Each building is expected to generate
€2.2 million in revenue, with gross margins aligned with the Company's
previously reported figure of 40%.
The Directors attribute the success in securing this contract to Eco
Buildings' innovative construction technology, which offers a significantly
more cost-effective and time-efficient alternative to traditional construction
methods. This enables developers to reduce costs and accelerate delivery
timelines. Each apartment block is expected to be completed within 6-9 months
from commencement, with work on the first luxury block already underway.
Litigation Update
The Company has secured full litigation funding from Atticus Litigation
Financing ("Atticus"), a new fund scheduled to commence operations in
October2025. Atticus is advised by Nick Rowles-Davies, a recognised pioneer
and global authority in the litigation funding industry.
This financial support ensures that the Company is fully resourced to advance
its €195 million claim before the International Court of Arbitration, where
the arbitration panel nomination process is already in progress. The case
concerns significant losses arising from adverse and improper actions taken by
government agencies in Kosovo.
To lead its legal strategy, the Company has appointed BSA Law, a distinguished
international law firm headquartered in Dubai. The firm is engaged under a
Conditional Fee Arrangement (CFA), reflecting its strong confidence in the
merits of the claim.
Financial Developments
In May 2025 the company raised gross proceeds of £670,000 through a firm
placing of 16,750,000 new ordinary shares at a price of 4 pence per share.
£250,000 was placed directly with one new subscriber, with the balance placed
with existing shareholders.
On the 4 September 2025 the Company announced it had issued £300,000 of a
zero coupon, 2-year convertible loan note, convertible at 4 pence per share.
The Loan Note is convertible at any time, at the election of the Note holder,
during its 24-month term into new ordinary shares in the Company at a price of
4 pence per share. No interest is payable on the Note.
The Company has also agreed to issue Warrants as part of the Loan Note on a
basis of 1 Warrant for every 2 Shares issued. The Warrants may be exercised at
a price of 8p and are exercisable at any time up to the third anniversary of
the date of this announcement at which time they will lapse.
On the 12 September 2025 the Company announced that it had raised gross
proceeds of £600,000 through the placing of 15,000,000 new ordinary shares at
the 4p.
On the 22 September 2025 the Company announced that it has issued 5,000,000
new ordinary shares following receipt of a conversion notice of £200,000 on
the Loan at a conversion price of 4 pence per share.
For further information, contact:
Eco Buildings Group plc
Etrur Albani, Executive Vice Chairman
Tel: +44 (0)20 7380 0999
Fiona Hadfield, Finance Director
Tel: +44 (0)20 7380 0999
Spark Advisory Partners Limited (Nominated Adviser) Tel: +44 (0) 203 368 3550
Matt Davis / James Keeshan
Tavira Securities Limited (Joint Broker) Tel: +44 (0) 203 192 1739
Oliver Stansfield / Jonathan Evans
CMC Markets UK Plc (Joint Broker) Tel: +44 (0)20 71708200
Douglas Crippen
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.
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.
ECO BUILDINGS GROUP PLC
Condensed unaudited consolidated income statement and statement of
comprehensive income
Six months ended 30 June Six months ended 30 June For the year ended
2025 2024 2024
Note Unaudited Unaudited Audited
€'000s €'000s €'000s
Revenue 1,792 206 1,392
Cost of Sales (514) (74) (415)
Gross Profit 1,278 132 977
Administrative and other operating expenses (1,316) (914) (4,384)
Operating loss (38) (782) (3,407)
Net finance costs 3 (24) (305) (504)
-
Loss before taxation (62) (1,087) (3,911)
Taxation - - -
Loss for the period (62) (1,087) (3,911)
Other comprehensive income - - -
Total comprehensive loss for the period attributable to owners of the parent (62) (1,087) (3,911)
company
Loss per share
Basic loss per share 4 €0.001 €0.014 €0.05
Diluted loss per share 4 €0.001 €0.014 €0.05
ECO BUILDINGS GROUP PLC
Condensed unaudited consolidated statement of financial position
Notes As at 30 June 2025 As at 31 December 2024 As at 30 June 2024
Unaudited Audited Unaudited
€'000s €'000s €'000s
Assets
Non-current assets
Intangible assets 5 9,167 9,189 9,977
Property, plant and equipment 6 6,453 6,370 5,680
Total non-current assets 15,620 15,559 15,657
Current assets
Trade and other receivables 1,195 777 682
Inventories 1,120 1,092 2,058
Cash and cash equivalents 183 106 34
Total current assets 3,218 1,975 2,774
Total assets 18,838 17,534 18,431
Current liabilities
Trade and other payables 2,505 2,471 1,801
Lease commitments 163 166 -
Borrowings 7 2,029 1,974 60
Total current liabilities 4,697 4,611 1,861
Non-current liabilities
Deferred tax liability 85 85 85
Lease Commitments 304 345 260
Borrowings 7 4,005 3,674 5,187
Total non-current liabilities 4,394 4,104 5,532
Total liabilities 9,091 8,715 7,393
Net assets 9,747 8,819 11,038
Equity
Share capital 8 6,142 5,908 5,855
Share premium 8 10,900 10,200 9,965
Retained loss (6,848) (6,786) (3,962)
Share based payment reserve 155 99 51
Warrant reserve 269 269 -
Other reserves (871) (871) (871)
Total equity attributable to owners of the parent company 9,747 8,819 11,038
ECO BUILDINGS GROUP PLC
Condensed consolidated statement of cash flows
Six months ended Six months ended Year
30 June 2025 30 June 2024 ended 31 December 2024
Unaudited Unaudited €'000s
€'000s €'000s
Notes
Cash flows from operating activities
Loss before taxation (62) (1,087) (3,911)
Adjustment for:
Net finance costs 4 24 305 504
Operating loss for the period (38) (782) (3,407)
Adjustment for:
Amortisation 22 25 79
Depreciation 6 320 95 285
Equity Settled transactions 56 44 92
Provision for impairment of intangibles - - 734
Provision for impairment of tangibles - - 355
Provision for inventory - - 956
Changes in working capital:
Increase in receivables (1,138) (69) (164)
(Increase)/decrease in inventories (27) 26 37
Increase/(decrease) in trade and other payables 34 (479) 190
Net cash used in operating activities (771) (1,140) (843)
Cash flow from investing activities
Expenditure on property, plant and equipment 6 (403) (363) (1,598)
Expenditure on rights of use assets (69) (40) 201
Net cash outflow from investing activities (472) (403) (1,398)
Cash flows from financing activities
Proceeds from issue of shares 9 934 939 1,498
Repayment of debt 7 (236) - -
Drawdown of debt 7 648 - 278
Interest paid (25) (37) (107)
Net cash inflow from financing activities 1,321 900 1,669
Net increase/(decrease) in cash and cash equivalents 78 (643) (571)
Foreign exchange difference arising on translation -
Cash and cash equivalents at beginning of 106 677 677
Period
Cash and cash equivalents at end of period 183 34 106
ECO BUILDINGS GROUP PLC
Condensed consolidated statement of changes in equity
Share capital Share premium Share based payment reserve Other reserve Warrant reserve Profit and loss reserve Total
€'000s ( )
€'000s €'000s €'000s €'000s €'000s
€'000s
As at 1 January 2024 5,774 9,106 7 (871) (2,875) 11,141
Total comprehensive loss for the period (1,087) (1,087)
Transactions with owners
Share based transactions 44 44
Issue of shares 81 858 940
As at 30 June 2024 5,855 9,965 51 (871) (3,962) 11,038
Total comprehensive loss for the period - - - - - (2,824) (2,824)
Transactions with owners
Share based transactions - (269) 47 - 269 - 316
Issue of shares 53 504 - - - - 288
As at 31 December 2024 5,908 10,200 98 (871) 269 (6,786) 8,819
Total comprehensive loss for the period - - - - - (62) (62)
Transactions with owners
Share based transactions - - 56 - - - 56
Issue of shares 234 700 - - - - 934
As at 30 June 2025 6,142 10,900 154 (871) 269 (6,848) 9,747
Notes to the condensed consolidated financial statements for the period ended
30 June 2025
(1) General information
The principal activity of Eco Buildings Group plc and its subsidiary and
associate companies (collectively "Eco Buildings Group" or "Group") is the
production of GFRG panels for use in construction and the processing of
dimensional stone.
Eco Buildings Group plc is the Group's ultimate Parent Company ("the Parent
Company"). It is incorporated in England and Wales and domiciled in England.
The address of its registered office is 160 Camden High Street, London, NW1
0NE. Eco Buildings Group plc shares are admitted to trading on the London
Stock Exchange's AIM market.
(2) Basis of preparation
The results presented in this report are unaudited and they have been prepared
in accordance with the principles of International Financial Reporting
Standards ("IFRS") as adopted by the European Union that are applicable to the
financial statements for the year ending 31 December 2024.
The accounting policies applied in these results are consistent with those
applied in the Group's Annual Report and Accounts for the year ended 31
December 2024 and those expected to be applicable to the financial statements
for the year ending 31 December 2025.
This half yearly report does not constitute statutory accounts within the
meaning of Section 434 of the Companies Act 2006. Statutory accounts for Eco
Buildings Group plc for the year ended 31 December 2024 were approved by the
Board on 30 June 2025 and have been filed with the Registrar of Companies. The
report of the auditors on those accounts was unqualified and did not contain a
statement under Section 498 (2) or (3) of the Companies Act 2006. These
condensed interim financial statements for the six months ended 30 June 2025
have been prepared in accordance IAS 34, 'Interim financial reporting', as
adopted by the European Union. The condensed interim financial statements
should be read in conjunction with the annual financial statements for the
year ended 31 December 2024, which have been prepared in accordance with IFRS
as adopted by the European Union. The Annual Report and Accounts 2024 for
the Group are available at www.eco-buildingsplc.net
(3) Going concern
The Directors have thoroughly reviewed detailed projected cash flow forecasts
and believe it is appropriate to prepare this report on a going concern basis.
In making this assessment, they have considered the following factors:
a) the current working capital position and operational requirements;
b) the proposed business plan for the combined entity including the
development of sales
c) rates of production at the newly operational plant in Durres, and
the any risks that may impact the levels of production;
d) current order book including purchase orders received in September
2025 and the companies ability to satisfy these from existing production;
e) the timing and expected start of revenues under the contracts for
construction secured by Eco Buildings
f) the timing of expected sales receipts and completion of other
existing orders, as well as collection of outstanding debtors;
g) the sensitivities of forecast sales figures over the next two
years;
h) the timing and magnitude of planned capital expenditure including
expansion of production facilities at the GFRG factory in Albania; and
i) the level of indebtedness of the company and timing of when such
liabilities may fall due, and accordingly the working capital position over
the next 18 months.
The forecasts assume that the Company will execute the business plan for the
combined entity.. It further assumes that production at the Fox Marble
factory will continue to operate in good order. The forecast assumes
existing contracts held by the Company will be fulfilled on a timely basis,
and that the factory in Durres operates in good order. The Company also
anticipates significant revenue growth through the realization of existing
sales contracts and offtake agreements, as well as from newly generated sales.
The forecasts also assume that the convertible loan note expiring in 2025 will
be extended. The Directors are confident based on ongoing discussions with
the investor that the loan note will be extended. They therefore consider it
appropriate to prepare the financial statements on a going concern basis.
However, as at the date of approval of these financial statements, there are
no legally binding agreements in place in relation to extension of terms with
the loan note holder which may cast doubt about the Group's ability to
continue as a going concern and therefore it may be unable to realise its
assets and discharge its liabilities in the normal course of business. The
financial statements do not include the adjustments that would result if the
Group was unable to continue as a going concern.
There are several scenarios which management have considered that could impact
the financial performance of the Company. These include:
a) The business plan for the combined entity, including planned
capital and strategic expansions could be delayed or result in further losses
for the group;
b) Levels of production at the factory could be lower than expected;
Costs of construction of the units could be higher than expected;
c) Levels of production at the quarries can be impacted by unforeseen
delays due to inclement weather or equipment failure; lower than expected
quality of material being produced, and the continuing effects of the
pandemic;
d) Costs of production and construction could be higher than planned, or
there could be unforeseen additional costs;
e) Fulfilment of the Company's order book could be delayed, or the
payment of amounts due under such contracts could be delayed; and
f) The resumption of block sales to the international block market may
be slower than expected.
If the cash receipts from sales are lower than anticipated the Company has
identified that it has available to it several other contingent actions, that
it can take to mitigate the impact of potential downside scenarios. These
include seeking additional financing, leveraging existing sale agreements,
reviewing planned capital expenditure, reducing overheads and renegotiation of
the terms on its existing debt obligations.
In conclusion having regard to the existing and future working capital
position and projected sales, the Directors are of the opinion that the
application of the going concern basis is appropriate.
(4) Loss per share
Six months ended Six months ended Year ended
30 June 30 June 31 December 2024
2025 2024 €'000 ((1))
€'000s €'000s ((1))
Loss for the period used for the calculation of basic LPS (62) (1,087) (3,911)
Number of shares
Weighted average number of ordinary shares for the purpose of basic LPS 88,568,691 76,961,747 77,883,984
Effect of potentially dilutive ordinary shares - -
Weighted average number of ordinary shares for the purpose of diluted LPS 88,568,691 76,961,747 77,883,984
Loss per share:
Basic €0.001 €0.014 €0.050
Diluted €0.001 €0.014 €0.050
(5) Intangible assets
Goodwill Mining rights and licences Capitalised exploration and evaluation expenditure Total
€'000 €'000
€'000 €'000
Cost
As at 31 December 2023 7,423 2,535 72 10,030
Acquired - - - -
As at 30 June 2024 7,423 2,535 72 10,030
Acquired - - - -
As at 30 December 2024 7,423 2,535 72 10,030
Acquired - - - -
As at 30 June 2025 7,423 2,535 72 10,030
Depreciation
As at 31 December 2023 - 26 2 28
Charge for the period - 24 1 25
As at 30 June 2024 - 50 3 53
Impairment charge - 734 - 734
Charge for the period - 18 37 55
As at 30 December 2024 - 802 39 841
Charge for the period - 21 1 -
As at 30 June 2025 - 822 40 862
Net book value
As at 30 June 2025 7,423 1,713 32 9.167
As at 31 December 2024 7,423 1,733 33 9,189
As at 30 June 2024 7,423 2,485 69 9,977
(6) Property, plant and equipment
Land Factory Rights of use assets Quarry Office equipment and leasehold improvements Total
Plant and machinery Plant and machinery
€'000s
€'000s €'000 €'000s
€'000s €'000s
Cost
As at 31 December 2023 160 4,345 396 721 1 5,624
Additions - 362 - - - 362
As at 30 June 2024 160 4,707 396 721 1 5,986
Additions - 1,281 317 - - 1,598
Disposals - - (75) - - (75)
As at 31 December 2024 160 5,626 640 721 1 7,148
Additions - 402 - - - 402
As at 30 June 2025 160 6,028 640 721 1 7,550
Depreciation
As at 31 December 2023 - 86 124 2 - 212
Charge for the period - 29 52 13 - 95
As at 30 June 2024 - 115 176 15 - 307
Charge for the period - 130 74 1 204
Impairment - - - 342 - 342
Disposals - (75) (75)
As at 31 December 2024 - 245 175 357 1 778
Charge for the period - 270 50 - - 320
As at 30 June 2025 - 515 225 357 1 1,097
Net book value
As at 30 June 2025 160 5,513 415 364 - 6,453
As at 31 December 2024 160 5,381 464 364 - 6,369
As at 30 June 2024 160 4,592 221 706 1 5,679
(7) Borrowings
30 June 31 December 2024 30 June
2025 €'000s 2024
€'000s €'000s
Current liabilities
Convertible loan notes at amortised cost 2,014 1,955 -
Other borrowings held at amortised cost 15 19 60
2,029 1,974 60
Non-Current liabilities
Convertible loan notes at amortised cost 3,156 2,780 4,324
Other borrowings held at amortised cost 848 914 863
Derivative over own equity at fair value 1 1
4,005 3,674 5,187
(a) Eco Buildings Operations Limited Loan Note
On 3 March 2022 the Group entered into an agreement to acquire operational
assets from Gulf Wall FZO, a company registered in Dubai, United Arab
Emirates. The consideration for this purchase was the issue of shares in Eco
Buildings Group Ltd and the issue of $1,000,000 (£759,763) loan note. The
terms of the loan note were agreed on 7 September 2022. The loan note has a
four-year term and an interest rate of 2%. As at 30 June 2025 the loan note
held at amortised cost had a balance of €847,753. (31 December 2024 -
€913,771).
(b) Series 11 Loan Note
On 27 May 2020 Eco Buildings Group PLC reached agreement with the holders of
the Series 3, 4, 6, 7, 8, 9 and 10 loan note holders to reschedule the terms
of the loan notes. The existing loan notes were cancelled and replaced by
the Series 11 Loan Note. The Series 11 Loan Note has an interest rate of 2%
per annum. The Loan note was due for conversion or repayment on the 1
December 2026 with a conversion price of 5p.
The noteholders had the right, in the event of a change of control of the
Company, to give written notice to the Company to require that the interest
rate on the stock increases to 25% per annum with effect from the date of the
change of control. In the event the noteholders elected to increase the
interest rate, the Company may repay the stock at par, together with all
accrued interest. On 27 April 2023, the Company amended the Series 11 CLNs
pursuant to which the terms of the Series 11 Instrument were altered to agree
that (i) the Acquisition shall not cause the interest rate payable pursuant to
the Series 11 Instrument to increase, notwithstanding that a change of control
of the Company will occur, and (ii) the Series 11 CLNs would convert at a rate
of 80 pence per ordinary share.
As at 30 June 2025, the Series 11 Loan Note held at amortised cost had a
balance of €2,432,238 (31 December 2024 - €2,480,251). The Stockholders'
option to convert the loan has been treated as an embedded derivative and
measured at fair value. As at 30 June 2025 the derivative had a value of nil
(31 December 2024 - €555). The fair value has been assessed using a Black
Scholes methodology. The derivative is classified as a level 3 derivative on
the basis that the valuation includes one or more significant inputs not based
on observable market data.
(c) Gulf Loan Note
As consideration for the acquisition of Gulf Marble Investments Limited Eco
Buildings Group plc issued an Unsecured Convertible Loan Note ('Gulf Loan
Note') in the amount of €1,785,000. Under the terms of the Loan Note, the
holder may elect to convert at a conversion price of 130% of the 3-month
volume weighted average share price. The Loan Note was repayable from 1
October 2020. The Loan Note carries an interest rate of Libor plus 1.5%
payable annually in arrears. The Gulf Loan Note was amended on 7 August 2021
pursuant to which the total principal amount to be repaid under the Notes was
increased to €1,885,000. In addition, interest shall accrue in respect of
the GM Notes at the rate of 4.5% in the period from 8 August 2021 to 1 January
2025. Furthermore, if the Company raises more than €7 million prior to the
date of repayment of the Notes, 25% of the Notes are to be repaid immediately.
As at 30 June 2025, the Gulf Loan Note held at amortised cost had a balance of
€2,013,984 (31 December 2024 - €1,955,036). The Stockholders' option to
convert the loan has been treated as an embedded derivative and measured at
fair value. As at 30 June 2025, the derivative had a value of nil (31
December 2024 - nil). The fair value has been assessed using a Black Scholes
methodology. The derivative is classified as a level 3 derivative on the basis
that the valuation includes one or more significant inputs not based on
observable market data.
(d) Other Borrowings held at amortised cost
In July 2021 Eco Buildings Group Plc borrowed £50,000 under the Covid bounce
back loan scheme. The loan carries an interest rate of 2.5% and is repaid in
monthly instalments over five years. As at 30 June 2025 there remained
€14,786 outstanding on this debt.
The Directors consider that the carrying amount of borrowings approximates
their fair value at 30 June 2025.
(8) Share capital
30 June 2025 31 December 2024 Share capital Share capital Share premium Share premium
Number Number 30 June 31 December 30 June 31 December
2025 2024 2024 2024
€'000 €'000
€'000 €'000
Issued, called up and fully paid Ordinary shares of £0.01 each
At start of the period 81,461,747 70,070,080 952 817 10,200 9,107
Issued in the year 19,750,000 11,391,667 234 135 700 1,363
Transfer to warrant reserve - - - - (269)
At end of the period 101,211,747 81,461,747 1,186 952 10,900 10,200
Issued, called up and fully paid Preference shares of £0.01 each
At start of the period 8,232,857 8,232,857 96 96 - -
Issued in the year - - - - - -
At end of the period 8,232,857 8,232,857 96 96 - -
Issued, called up and fully paid Deferred shares of £0.50 each
At start of the period 8,232,857 8,232,857 4,861 4,861 - -
Issued in the year - - - - - -
At end of the period 8,232,857 8,232,857 4,861 4,861 - -
117,677,461 97,927,461 6,142 5,908 10,900 10,200
On the 2 June 2023 each Ordinary Share in the issued share capital of the Eco
Buildings Group PLC at the 1 June 2023 was sub-divided into 13 Sub-divided
Shares, following which 113,974 Sub-divided Shares were issued at nominal
value. Following the Sub-divided Share Issuance, every 659 Sub-divided Shares
was consolidated into one Post-Consolidation Ordinary Share and then each
Post-Consolidation Share was sub-divided into one New Ordinary Share with a
nominal value of 1p and one New Deferred Share with a nominal value of 50p.
The New Ordinary Shares have the same rights as the previous Ordinary Shares
including voting, dividend, return of capital and other rights.
The New Deferred Shares do not have any voting rights and do not carry any
entitlement to attend general meetings of the Company; nor will they be
admitted to AIM or any other market.
The Share Reorganisation resulted in the Company having 8,232,857 New Ordinary
Shares and 8,232,857 New Deferred Shares being in issue immediately following
the Share Reorganisation.
Issue of Shares
On the 17 January 2025 issued 3,000,000 shares in settlement of £135,000 of
loan notes issued under the Series 12 Loan notes.
On the 15 May 2025 the company announced that it has raised gross proceeds of
£670,000 through a firm placing of 16,750,000 new ordinary shares at a price
of 4 pence per share.
On the 22 September 2025, the Company announced that it has issued 5,000,000
new ordinary shares following receipt of a conversion notice of £200,000 on
the Loan Notes at a conversion price of 4 pence per share.
(9) Events after the reporting period
On the 14 July 2025 Deferred shares held by the Company were cancelled in line
with the authorities held by the Board to cancel the shares via a resolution
of the Board.
On the 4 September 2025 the Company announced it had issued £300,000 of a
zero coupon, 2-year loan note, convertible at 4 pence per share. The Note is
convertible at any time, at the election of the Note holder, during its 24
month term into new ordinary shares in the Company at a price of 4 pence per
share. No interest is payable on the Note.
The Company has also agreed to issue Warrants as part of the Note on a basis
of 1 Warrant for every 2 Shares issued. The Warrants may be exercised at a
price of 8p and are exercisable at any time up to the third anniversary of the
date of this announcement at which time they will lapse.
On the 12 September 2025 the Company announced that it had raised gross
proceeds of £600,000 through the placing of 15,000,000 new ordinary shares at
the 4p.
On the 22 September 2025 the company announced that it has issued 5,000,000
new ordinary shares following receipt of a conversion notice of £200,000 on
the Loan Notes issued by the Company on the 4 September 2025 at a conversion
price of 4 pence per share.
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
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