Fox Marble Holdings PLC Contract Update (6991M)

TIDMFOX

RNS Number : 6991M

Fox Marble Holdings PLC

13 May 2020

Fox Marble Holdings plc

("Fox Marble" or the "Company")

Contract Update

Fox Marble, the AIM listed company focused on marble quarrying and processing in Kosovo and the Balkans region is pleased to announce that it has commenced processing the contract announced on 14 April 2020 to supply up to 20,000 square metres of paving for Suhareka town square, Kosovo. Fox Marble is now processing the paving slabs in order to supply its material in time for its customer to start the installation as soon as the current lockdown provisions in Kosovo are eased.

The material for this contract will be supplied from Fox Marble's factory in Kosovo, with the first 8,000 square metres to be delivered by 30 September 2020. The stone will be processed from existing blocks of Grigio Argento, Flora and Alexandrian white, already extracted and awaiting processing.

Material already specified and contracted under the first two stages of the project has a total value in excess of EUR400,000 and, once all 20,000 square metres has been supplied, the project is expected to be worth in excess of EUR750,000.

Chris Gilbert, CEO, commented "This contract to supply a local municipality to pave a large open public space confirms Fox Marble's position as a leading provider of dimension stone within Kosovo and the Balkans wider region. Our factory is able to proceed with this order as a designated industrial facility and we anticipate further similar sales in the near future."

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014

For more information on Fox Marble please visit www.foxmarble.net or contact:

 
 Fox Marble Holdings plc 
 Chris Gilbert, Chief Executive Officer   Tel: +44 (0) 20 7380 
                                           0999 
 Fiona Hadfield, Finance Director         Tel: +44 (0) 20 7380 
                                           0999 
 
 Brandon Hill Capital (Joint Broker) 
 Oliver Stansfield                        Tel: +44 (0) 20 3463 
  Optiva Securities (Joint Broker)         5000 
  Christian Dennis/Jeremy King             Tel:+44 (0) 20 3137 
                                           1902 
 Cairn Financial Advisers LLP (Nomad) 
 Liam Murray                              Tel: +44 (0) 20 7213 
  Sandy Jamieson                           0880

Notes to Editors:

Fox Marble ( AIM: FOX ), is a marble production, processing and distribution company in Kosovo and the Balkans region.

Its marble products, which includes Alexandrian Blue, Alexandrian White, Breccia Paradisea, Etruscan gold and Grigio Argento and are gaining sales globally both to international wholesale companies as well as being supplied directly into luxury residential properties. In the UK these include among others St George's Homes and Capital and Counties Plc's Lillie Square development. In Sydney, Australia Rosso Cait, Alexandrian White and Breccia Paradisea marble have been used in what is expected to be Australia's most expensive residential property. These sales serve to demonstrate the desirability of Fox's premium marble products as the stone of choice in some of the most prestigious and expensive residential developments around the world.

Caution regarding forward looking statements

Certain statements in this announcement, are, or may be deemed to be, forward looking statements. Forward looking statements are identi ed 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 re ect the Directors' current beliefs and assumptions and are based on information currently available to the Directors.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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