Orders and specifications achieved for premium finished marble product from leading luxury property developments in the UK and Australia
AIM: FOX
15 December 2016
Fox Marble Holdings plc
(“Fox Marble” or the “Company”)
Fox Marble, the AIM listed company focused on marble quarrying and finishing in Kosova and the Balkans region, is pleased to report on orders and specifications worth approximately €300,000 from leading property developments in the UK and Australia that underscore the continued development of the Company’s customer base globally.
The prominent developments that have selected Fox Marble include:
Audley Square in Mayfair, London being developed by the Caudwell Collection - and regarded as one of the most prestigious residential buildings in the world - has specified Fox Marble’s Illyric White and Selene Grigio marble for all of the interior common areas. Once final plans for the property are complete Fox Marble expects to receive a formal purchase order.
An exclusive residential property located in Point Piper, Sydney, Australia, which is expected to be the most expensive house in Australia when completed, has ordered Fox Marble’s Sivec, Flora, Rosso Cait and Etruscan gold marble to be used in its construction. The materials were shipped in December 2016.
The developers of a large residential mansion in West London, valued at £40m, have ordered Fox marble’s Flora, Grigio Argento and Sivec marble, due for shipment in the next two months with the project due for completion in the spring of 2017.
Chris Gilbert, CEO commented:
“These latest orders continue to demonstrate the desirability of our premium marble products as the stone of choice in some of the most prestigious and expensive residential developments taking place around the world.
Furthermore, in line with our strategy of offering a low-capex and integrated approach to our marble production, processing and distribution globally, these developments also show that our brand is gaining reputation as a trusted supplier, capable of effective production and distribution of marble at the high standard of quality required in such projects”
The directors’ expectations for the Company’s order book which will be realised in 2017 remain broadly in line with what was announced on 13 December 2016. The Audley Square development will not be recognised in the order book until such point as a formal purchase order is received.
Forward Looking Statements
Although any forward looking statements contained in this announcement are based upon what the directors believe to be reasonable assumptions, the Company cannot assure investors that actual results will be consistent with such forward looking statements. Accordingly, readers are cautioned not to place undue reliance on forward looking statements.
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
Cairn Financial Advisers LLP (Nomad)
Liam Murray
Tel: +44 (0) 20 7213 0880
Brandon Hill Capital (Broker)
Oliver Stansfield (CEO)
Tel: +44 (0) 20 3463 5000
Yellow Jersey PR
Felicity Winkles Tel: +44 (0) 7748 843 871
Francesca Hiller Tel: +44 (0) 7708 400 470
Notes to Editors
Fox Marble Holdings Plc is an AIM quoted natural stone extraction Company operating in Kosova and the Balkans region, with headquarters in the United Kingdom.
The Company has 40-year mining licences for six separate marble quarries of which three are now in production and completed a maiden JORC resource indicating an in-situ valuation of approximately Euro 16.5 billion. Established in 2011, Fox Marble has access to over 300 million cubic metres (over 1bn tons) of marble of premium quality marble.
In addition, Fox Marble has rights to extract marble from two further premium quality marble quarries, at Drini and at Maleshevë in Kosova, which is in full production, and from the Prilep Quarry in Macedonia which is also in full production and, one of only two sources worldwide of the highly prized Alexandrian White marble.