REG - SigmaRoc PLC - Nordkalk dispute with the Swedish state

SigmarocAnnouncement

15/03/2023 07:00

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RNS Number : 9829S  SigmaRoc PLC  15 March 2023

15 March 2023

 

(EPIC: SRC / Market: AIM / Sector: Construction Materials)

 

SIGMAROC PLC

 ('SigmaRoc', the 'Group' or the 'Company')

 

Successful claim in Nordkalk dispute with the Swedish state

 

SigmaRoc (AIM: SRC), the quarried materials group, announces that it has been
successful in its claim to seek compensation from the Swedish state in respect
of land use restrictions.

 

On 1 April 2020, Nordkalk AB filed a claim for compensation for economic loss
due to land use restrictions as a result of the Swedish government's
designation of a piece of land as environmentally protected pursuant to a
Natura 2000 decision (Nacka District Court case no. M2296-20).  The Group
acquired Nordkalk AB in August 2021 and details of the claim were disclosed in
the Group's related Admission Document of 16 July 2021.

 

The verdict, pronounced on 14 March 2023, made an award to Nordkalk AB in
compensation for this economic loss, of which a sum of c. SEK 188 million (c.
£17m) that is to be adjusted for inflation and interest until payment is
made, is receivable by the Group as its share. The verdict is capable of being
appealed by the Swedish State until 4 April 2023 and receipt of funds remains
subject to the outcome of any appeal, if lodged. The Group will keep the
markets informed of any further developments.

 

Max Vermorken, CEO of SigmaRoc, commented:

"We are pleased with this news and that the Swedish Courts have recognised our
economic loss. Should no appeal be lodged and when we are in receipt of funds
we intend to use the damages awarded, if confirmed, to secure further reserves
of our business in Sweden and to fast track the decarbonation of our
operations."

 

Information on the Company is available on its website, www.sigmaroc.com
(http://www.sigmaroc.com) .

 

 

 SigmaRoc plc                                         Tel: +44 (0) 207 002 1080

 Max Vermorken / Garth Palmer

 Liberum Capital (Co-Broker & Nominated Adviser)      Tel: +44 (0) 203 100 2000

 Nick How / Jamie Richards / Ben Cryer

 Peel Hunt (Co-Broker)                                Tel: +44 (0) 20 7418 8900

 Mike Bell / Ed Allsopp

 Investor Relations                                   Tel: +44 (0) 207 002 1080

 Dean Masefield / Elisa Frenay                        ir@sigmaroc.com

 

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