REG - Fox Marble Holdings - Admission to AIM and First Day of Dealings

Focus XploreAnnouncement

02/06/2023 08:15

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RNS Number : 4232B  Fox Marble Holdings PLC  02 June 2023

 

2 June 2023

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.

Fox Marble Holdings plc (to be renamed Eco Buildings Group plc)

(the "Group")

Admission to Trading on AIM and First Day of Dealings

Fox Marble Holdings plc (AIM: ECOB) (to be renamed Eco Buildings Group plc),
is pleased to announce the readmission of its shares to trading on AIM
("Admission") following completion of the reverse takeover of Eco Buildings
Group Limited ("Eco Buildings" and the enlarged group following Admission
being the "Group"), a company that will operate in the prefabricated modular
housing sector.

Eco Buildings 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 has joined
the 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, and has initially secured two contracts
in Albania that are expected to generate gross sales revenue of up to €114
million in total over the first three years following Admission.

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.

Sanjay Bowry, the incoming CEO of the Enlarged Group, commented: "We are very
proud to be re-joining AIM today with Eco Building's new strategic focus. We
have an exciting opportunity ahead of us and being a quoted business will
allow us to capitalise on this and accelerate our growth plans."

Placing

The Group has successfully raised £2.7 million (before expenses) via a
placing of 4,946,313 new ordinary shares at an issue price of 55 pence per
share (the "Placing"). The net proceeds of the Placing will be used to expand
the Enlarged Group's production capacity, meet its obligations under two
existing sales contracts and accelerate growth.

SPARK Advisory Partners Limited is acting as Nominated Adviser and Tavira
Financial Limited is acting as broker in relation to Admission.

The ISIN of the Ordinary Shares is GB00BRJTP124, the SEDOL of the Ordinary
Shares is BRJTP12 and the Group's LEI number is 213800GJKNNE3VRWDD37.

Total Voting Rights

The number of shares in issue immediately after Admission is 70,070,080 giving
the Group a market capitalisation of approximately £38.5 million at the issue
price of 55 pence per share. Admission took place at 8.00 a.m. today, 2 June
2023.

The Group holds no shares in treasury and therefore the figure above 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 share capital of the Group under the Disclosure
Guidance and Transparency Rules of the Financial Conduct Authority.

Change of Name and TIDM

The Group's TIDM has changed to "ECOB" with effect from Admission. The Group
has today resolved to change its name to Eco Buildings Group plc ("Change of
Name"), the Change of Name is being processed by Companies House and will take
effect on the London Stock Exchange once this has occurred.

Board Changes

On Admission, Sanjay Bowry, Etrur Albani, Dominic Redfern and Ahmet
Shala will join the Board, Christopher Gilbert and Roy Harrison have stepped
down from the Board.

Full details of the Directors are given in the Group's Admission Document
dated 28 April 2023. There are no further disclosures to be made pursuant to
Schedule Two paragraph (g) of the AIM Rules for Companies.

Christopher Gilbert, departing Chief Executive Officer, commented: "I, along
with my colleague Roy Harrison, as departing directors, would like to wish
Sanjay Bowry and the Eco Buildings' team the very best on their future
endeavours. We are proud of what Fox Marble has achieved in completing the
reverse takeover of Eco Buildings and have every confidence the executive team
will deliver significant long-term value for the Group's shareholders"

For more information on Eco Buildings please visit www.eco-buildingsplc.com
(http://www.eco-buildingsplc.com) or contact:

 Fox Marble Holdings PLC (to be renamed Eco Buildings Group plc)  Tel: +44 (0)20 7380 0999

 Sanjay Bowry, Chief Executive Officer

 Fiona Hadfield, Finance Director
 Spark Advisory Partners Limited (Nominated Adviser)              Tel: +44 (0)20 3368 3550

 Matt Davis / James Keeshan
 Tavira Financial Limited (Broker)                                Tel: +44 (0)20 3192 1739

 Oliver Stansfield/Jonathan Evans

 

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