REG - Eco Buildings Group - Litigation against the Republic of Kosovo Update

Eco BuildingsAnnouncement

14/07/2025 07:00

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RNS Number : 8272Q  Eco Buildings Group PLC  14 July 2025

14 July 2025

Eco Buildings Group PLC

("Eco Buildings" or the "Company")

 

Litigation update re Fox Marble vs the Republic of Kosovo

Litigation Update - Case Fully Funded by High-Profile Legal Finance Leader

 

Eco Buildings Group PLC, the AIM-listed modular housing and marble quarrying
company, is pleased to announce a major positive development regarding the
ongoing €195 million arbitration proceedings brought by its subsidiary, Fox
Marble Ltd, against the Republic of Kosovo.

The Company has secured an offer of full litigation funding from Atticus
Litigation Financing, a new litigation financing fund set to become
operational in August 2025. Atticus is advised by Nick Rowles-Davies, a
recognised pioneer and global leader in the litigation funding sector. Mr
Rowles-Davies previously led Burford Capital PLC (the largest litigation
funder in the world) globally outside of the Americas as Managing Director and
was a director of Burford Capital until 2016. He was the co-founder of Vannin
Capital from 2010 to 2014 and a Partner at Bridgehouse Partners from 2004 to
2011.

This backing will ensure that Fox Marble is fully resourced and able to pursue
its €195 million claim through the International Court of Arbitration, where
the arbitration panel nomination process is already underway. The case relates
to substantial losses resulting from adverse and improper actions taken by
various government agencies in Kosovo.

Leading the legal strategy, Fox Marble has engaged BSA Law, a prominent
international firm headquartered in Dubai, operating on a Conditional Fee
Arrangement (CFA) basis, underscoring their confidence in the strength of the
claim.

Sanjay Bowry, CEO of Eco Buildings, commented:

"This is an important moment in moving forward on this issue. With this offer
to fully fund our case by Atticus that is advised by one of the most respected
figures in global litigation finance, we are confident in our ability to see
this claim through to a positive outcome. The support from Atticus and BSA Law
is a strong external validation of our legal position and the compelling
merits of our case."

This announcement is further to the disclosures in the Company's AIM Admission
Document published on 28 April 2023 and the announcement by the Company on 5
May 2023.

This announcement contains inside information as defined under Article 7 of
the EU Market Abuse Regulation (596/2014).

About Eco Buildings Group PLC

Eco Buildings is a leading innovator in prefabricated, sustainable housing
technology, leveraging proprietary GFRG panel-based systems. The Company
serves both the affordable and high-end housing markets with solutions that
dramatically reduce construction time and cost while maintaining architectural
integrity and environmental responsibility.

 

For more information contact:

 Eco Buildings Group plc                                           Tel: +44 (0) 207 380 0999

 Sanjay Bowry, Chief Executive Officer

 Fiona Hadfield, Finance Director

 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 Capital Markets (joint Broker).  Tel: +44 (0) 203 003 8254

 Thomas Curran

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.

 

 

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