Issue of Shares and Warrants

Fox Marble Holdings plc
(“Fox Marble” or the “Company”)

·         Placing to raise £500K at 1.3p per share

·         Proceeds will be used to expand processing operations to cater for expected increased demand

·         Targeting revenue growth in 2022 following the COVID-enforced shutdowns in 2020-21

Fox Marble, the AIM listed company focused on marble quarrying and finishing in Kosovo and the Balkans region announces that it has issued in aggregate 38,461,539 new ordinary shares (“Placing Shares”) at a price of 1.3 pence (the “Placing”), raising gross proceeds of £500,000. Investors in the Placing will also receive one warrant for every two Placing Shares to subscribe for one new ordinary share in the Company at an exercise price of 2 pence per share which are exercisable at any time from Admission (as defined below) up until the third anniversary of Admission.

Background to Placing and Use of Proceeds

Over the last six months the Company has witnessed an uplift in demand for its cut and polished marble, some of which has already translated into firm orders. Accordingly, the Company has elected to raise funds to acquire additional machinery and working capital to meet this increased demand. This expanded capacity is also expected to enable the Company to enter into additional contracts with new customers over the coming months.

The Company is currently fulfilling contracts worth €1.35M and has signed additional contracts, due to commence in 2022, for approximately €2.3M. This includes the recently announced new Joint Venture with UAE based Al Bab Al Mumtaz, which provides for a minimum commitment of €0.5M in 2022, increasing to approximately €1M in 2023.

A small portion of the funds from the Placing will be used for the establishment of a new marketing area, not only for the Company’s cut and polished stone, but importantly for its block marble, which over the last few months has seen a resurgence of interest from buyers in the Middle East and Far East. The Company has not accounted for any block marble sales in its order book, but if interest persists it is likely to provide a boost to 2022 revenue.

Chris Gilbert, CEO of Fox Marble, commented:

“I am pleased with the level of support shown by investors in this financing. The pricing of the Placing, effectively at market, highlights the positive investment case and opportunity the Company provides.

Our operations were hindered by the COVID pandemic during 2020-2021, particularly given the nature of our business. However, we have seen a significant return in demand and feel now is the right time to invest in our infrastructure to meet this increased appetite. The equipment we are acquiring has already been sourced and the Company expects it to be delivered and installed in Q1 2022.

This expansion now gives the Board the confidence to conclude further contracts with parties the Company has been in dialogue with for some time. I am also heartened by the uptick in enquiries with respect to the purchase of block marble, a revenue stream that has been closed off since the emergence of the COVID pandemic in 2020.

I am therefore optimistic that 2022 will prove to be a turning point for the Company. It is also likely to be the year where FOX Marble is able to present its case in the court of International Arbitration on its €195M legal case against the Republic of Kosovo. Legal proceedings are fully funded and are being led by Dentons Europe CS LLC.”

Admission & Total Voting Rights

The Placing Shares will rank pari passu with the existing ordinary shares in all respects. Admission to AIM of the Placing Shares will occur on or around 15 December 2021 (“Admission”). Following the admission of the 38,461,539 Placing Shares, the total issued share capital of the Company will be 417,333,553 ordinary shares, each with voting rights. The Company does not hold any ordinary shares in treasury and the above figure 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 Company, under the Disclosure and Transparency Rules.

This announcement contains inside information for the purposes of Regulation 11 of the Market Abuse (amendment) (EU exit) Regulations 2019/310. The Directors of the Company take responsibility for this announcement.

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

Quatro PR

Gary Pleasants

Tel: +44 (0)207 566 7963/+44 (0)7966 487 739

Mark Herbert

Tel: +44 (0)7770 381608

Brandon Hill (Joint Broker)

Oliver Stansfield

Tel:  +44 (0)20 3463 5000

Allenby Capital (Joint Broker)

Nick Naylor/Nick Athanas/Liz Kirchner (Corporate Finance)

Amrit Nahal (Sales and Corporate Broking)

Tel:  +44 (0)20 3394 2973

Cairn Financial Advisers (Nomad)

Liam Murray/Sandy Jamieson/Ludovico Lazzaretti

Tel: +44 (0)20 7213 0880

Notes to Editors

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

Its marble products, which include Alexandrian Blue, Alexandrian White, Breccia Paradisea, Etruscan gold and Grigio Argent, are gaining sales globally to wholesale companies and directly to luxury residential properties.  In the UK these include St George’s Homes and Capital and Counties Plc’s Lillie Square development.  In Sydney, Australia, Rosso Cait, Alexandrian White and Breccia Paradisea have been used in what is expected to be Australia’s most expensive residential property.  These sales serve to demonstrate the desirability of Fox Marble’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 identified 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 reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors

Joint Venture Agreement

Fox Marble Holdings plc
(“Fox Marble” or the “Company”)

Fox Marble, the AIM listed marble production company with operations in Kosovo and the Balkans, announces that it has signed a joint venture agreement with Al Bab Al Mumtaz Group in the United Arab Emirates.

Al Bab Al Mumtaz Group is a wholesaler of flooring solutions to customers in the UAE and MENA region with turnover in the region of AED 100m (circa €23 million) and has 27 retail outlets across the UAE, the Sultanate of Oman and Rwanda. Al Bab Al Mumtaz Group operate three warehouses in Sajaa, UAE all of which can accommodate over 200,000 sqm of materials at any given time.

Al Bab Al Mumtaz Group was established in 2006 by Ibrahim Kutty. The company supplies a wide variety of marble, granites, ceramic, vinyl, carpet parquet and other natural stones from sources from all over the world.

Under the agreement it is anticipated that Fox Marble will supply Al Bab Al Mumtaz Group with marble tiles and slabs processed in its factory in Kosovo, for sale via its range of outlets in the region. The arrangement is expected to generate revenue in the region of AED 2m (€0.50m) in its first year of operation of 2022 and AED 4m (€0.95m) in 2023.

Chris Gilbert, CEO, commented:

“This agreement is the product of long-term efforts to develop relationships within this region. We look forward to a successful and productive relationship for both our companies, providing a solid footing for Fox Marble products in the region. “

This announcement contains inside information for the purposes of Regulation 11 of the Market Abuse (amendment) (EU exit) Regulations 2019/310. The Directors of the Company are responsible for the release of this announcement.

Ends

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

Quatro PR

Gary Pleasants

Tel: +44 (0)207 566 7963/+44 (0)7966 487 739

Mark Herbert

Tel: +44 (0)7770 381608

Brandon Hill (Joint Broker)

Oliver Stansfield

Tel:  +44 (0)20 3463 5000

Allenby Capital (Joint Broker)

Nick Naylor/Nick Athanas/Liz Kirchner (Corporate Finance)

Amrit Nahal (Sales and Corporate Broking)

Tel:  +44 (0)20 3394 2973

Cairn Financial Advisers (Nomad)

Sandy Jamieson/Liam Murray/Ludovico Lazzaretti

Tel: +44 (0)20 7213 0880

Notes to Editors

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

Its marble products, which include Alexandrian Blue, Alexandrian White, Breccia Paradisea, Etruscan gold and Grigio Argent, are gaining sales globally to wholesale companies and directly to luxury residential properties. In the UK these include St George’s Homes and Capital and Counties Plc’s Lillie Square development. In Sydney, Australia, Rosso Cait, Alexandrian White and Breccia Paradisea have been used in what is expected to be Australia’s most expensive residential property. These sales serve to demonstrate the desirability of Fox Marble’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 identified 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 reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors

New Sale Agreement

Fox Marble Holdings plc
(“Fox Marble” or the “Company”)

Fox Marble, the AIM listed marble production company with operations in Kosovo and the Balkans, announces that it has signed an agreement to sell €200k  of its Alexandrian White material from its quarry in Prilep, Macedonia.  The buyer is wholesale supplier of material to building projects across Europe.

The first shipment, of 300 tonnes, has been successfully completed and payment has been received.

Chris Gilbert, CEO, commented

“The market for block marble has been subject to significant disruption due to Covid-19.  However, with this agreement and others that are being negotiated and are expected to be announced in due course we are seeing signs of recovery.  We expect to see the benefit of these agreements primarily in 2022.”

This announcement contains inside information for the purposes of Regulation 11 of the Market Abuse (amendment) (EU exit) Regulations 2019/310. The Directors of the Company are responsible for the release of this announcement.

Ends

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

Quatro PR

Gary Pleasants

Tel: +44 (0)207 566 7963/+44 (0)7966 487 739

Mark Herbert

Tel: +44 (0)7770 381608

Brandon Hill (Joint Broker)

Oliver Stansfield

Tel:  +44 (0)20 3463 5000

Allenby Capital (Joint Broker)

Nick Naylor/Nick Athanas/Liz Kirchner (Corporate Finance)

Amrit Nahal (Sales and Corporate Broking)

Tel:  +44 (0)20 3394 2973

Cairn Financial Advisers (Nomad)

Sandy Jamieson/Liam Murray/Ludovico Lazzaretti

Tel: +44 (0)20 7213 0880

Notes to Editors

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

Its marble products, which include Alexandrian Blue, Alexandrian White, Breccia Paradisea, Etruscan gold and Grigio Argent, are gaining sales globally to wholesale companies and directly to luxury residential properties.  In the UK these include St George’s Homes and Capital and Counties Plc’s Lillie Square development.  In Sydney, Australia, Rosso Cait, Alexandrian White and Breccia Paradisea have been used in what is expected to be Australia’s most expensive residential property.  These sales serve to demonstrate the desirability of Fox Marble’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 identified 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 reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors

New Contract

Fox Marble Holdings plc
(“Fox Marble” or the “Company”)

Fox Marble, the AIM listed marble production company with operations in Kosovo and the Balkans, announces that it has signed a new contract to provide processed marble to a project in Kosovo.

Fox Marble will provide Alexandrian Blue and Alexandrian White marble from its quarry in Macedonia, which will be processed at Fox Marble’s factory in Lipjan in Kosovo. The value of the contract is expected to be in the region of €100k and will be supplied during the end of 2021 and 2022.

Chris Gilbert, CEO, commented

“This contract to supply our material is a testament to the ongoing work of our staff and team in Kosovo, and further bolsters our order book for the remainder of 2021 and 2022.”

This announcement contains inside information for the purposes of Regulation 11 of the Market Abuse (amendment) (EU exit) Regulations 2019/310. The Directors of the Company are responsible for the release of this announcement.

Ends

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

Quatro PR

Gary Pleasants

Tel: +44 (0)207 566 7963/+44 (0)7966 487 739

Mark Herbert

Tel: +44 (0)7770 381608

Brandon Hill (Joint Broker)

Oliver Stansfield

Tel: +44 (0)20 3463 5000

Allenby Capital (Joint Broker)

Nick Naylor/Nick Athanas/Liz Kirchner (Corporate Finance)

Amrit Nahal (Sales and Corporate Broking)

Tel: +44 (0)20 3394 2973

Cairn Financial Advisers (Nomad)

Sandy Jamieson/Liam Murray/Ludovico Lazzaretti

Tel: +44 (0)20 7213 0880

Notes to Editors

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

Its marble products, which include Alexandrian Blue, Alexandrian White, Breccia Paradisea, Etruscan gold and Grigio Argent, are gaining sales globally to wholesale companies and directly to luxury residential properties. In the UK these include St George’s Homes and Capital and Counties Plc’s Lillie Square development. In Sydney, Australia, Rosso Cait, Alexandrian White and Breccia Paradisea have been used in what is expected to be Australia’s most expensive residential property. These sales serve to demonstrate the desirability of Fox Marble’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 identified 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 reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors

Interim Results for the six months ended 30 June 2021

Read more

Update on Fox Marble’s €195M Arbitration Proceedings against Republic of Kosovo

Fox Marble Holdings plc
(“Fox Marble” or the “Company”)

Fox Marble, the AIM listed marble production company with operations in Kosovo and the Balkans, announces that, further to the announcement of 19 May 2021, it has received the formal opinion of eminent English Barrister and Queen’s Counsel, Samuel Wordsworth QC of Essex Court Chambers. 

He has submitted his opinion in respect of the Company’s €195M claim against the Republic of Kosovo claim being advanced by Dentons Europe CS LLP.

Mr. Wordsworth QC’s opinion supports the Company’s claim that the Republic of Kosovo has breached the provisions of the Kosovo Investment Law, and it is his view that an international arbitral tribunal will have jurisdiction to decide the Company’s claim under that Law.

The Company’s legal team has now identified Fox Marble’s choice of arbitrator of the three that will sit and adjudicate the claim and will be notifying such choice to the Republic of Kosovo shortly.

Chris Gilbert, CEO of Fox Marble Holdings, commented:

“We are pleased to receive Mr Wordsworth QC’s opinion in support of our case. Mr. Wordsworth QC is one of England’s leading silks who has market leading experience in cases involving States, and has a particular expertise in investor-State arbitration cases.  His strong reputation and impressive achievements, particularly in investor-state arbitration cases, will further strengthen the pursuit of our claim.”

Background to legal proceedings

On 4 September 2019, Fox Marble launched United Nations Commission on International Trade (UNCITRAL) arbitration proceedings against the Republic of Kosovo for damages in excess of €195M as a result of the failure of the state to protect Fox Marble’s rights over the Malesheve quarry.

The Company believes the Kosovan Government to be in clear breach of its responsibilities towards the Company as a foreign investor in Kosovo and that this action is in the best interests of its shareholders and employees.

On 16 December 2020, Fox Marble announced the appointment of Dentons Europe CS LLP as legal counsel for the €195M proceedings against the Republic of Kosovo and the Company also secured firm commitments of a further £0.5M in the form of litigation funding from private investors.

Further announcements will be made in due course.

This announcement contains inside information for the purposes of Regulation 11 of the Market Abuse (amendment) (EU exit) Regulations 2019/310. The Directors of the Company are responsible for the release of this announcement.

Ends

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

Quatro PR

Gary Pleasants

Tel: +44 (0)207 566 7963/+44 (0)7966 487 739

Mark Herbert

Tel: +44 (0)7770 381608

Brandon Hill (Joint Broker)

Oliver Stansfield

Tel:  +44 (0)20 3463 5000

Allenby Capital (Joint Broker)

Nick Naylor/Nick Athanas/Liz Kirchner (Corporate Finance)

Amrit Nahal (Sales and Corporate Broking)

Tel:  +44 (0)20 3394 2973

Cairn Financial Advisers (Nomad)

Sandy Jamieson/Liam Murray/Ludovico Lazzaretti

Tel: +44 (0)20 7213 0880

Notes to Editors

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

Its marble products, which include Alexandrian Blue, Alexandrian White, Breccia Paradisea, Etruscan gold and Grigio Argent, are gaining sales globally to wholesale companies and directly to luxury residential properties.  In the UK these include St George’s Homes and Capital and Counties Plc’s Lillie Square development.  In Sydney, Australia, Rosso Cait, Alexandrian White and Breccia Paradisea have been used in what is expected to be Australia’s most expensive residential property.  These sales serve to demonstrate the desirability of Fox Marble’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 identified 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 reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors

Result of AGM

Fox Marble Holdings plc
("Fox Marble" or the "Company")

Fox Marble announces that at its AGM held today, all resolutions were duly passed. 

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 5000

Allenby Capital (Joint Broker)

Amrit Nahal/Nick Naylor

 Tel: +44 (0) 20 3394 2973

Cairn Financial Advisers LLP (Nomad)

 Liam Murray

Sandy Jamieson

Tel: +44 (0) 20 7213 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.

Final Results for the year ended 31 December 2020 and Notice of General Meeting

Read more

Update on Fox Marble’s €195M Arbitration Proceedings against Republic of Kosovo

Fox Marble Holdings plc
("Fox Marble" or the "Company")

Fox Marble, the AIM listed marble production company with operations in Kosovo and the Balkans, has further strengthened its legal team with the appointment of eminent British Barrister and Queens Counsel, Samuel Wordsworth QC of Essex Court Chambers.  He will complement the existing legal team, led by Dentons Europe CS LLP, the world’s largest law firm by number of lawyers, in support of the Company’s €195M claim against the Republic of Kosovo.

Mr Wordsworth is a highly regarded specialist in investor-state arbitration, public international law and international arbitration.  He is regularly instructed by governments and has appeared before numerous international tribunals (For more information go to https://www.essexcourt.com/barrister/Samuel-wordsworth-qc).

Chris Gilbert, CEO of Fox Marble Holdings, commented:

“We are pleased to welcome Mr Wordsworth aboard. His strong reputation and impressive achievements, particularly in investor-state arbitration cases, will further boost the best-in—class legal team Fox Marble has already assembled.

As previously announced, we have already sourced all the required litigation funding to cover expected costs throughout the whole of the Arbitration proceedings and believe the anticipated finding in the Company’s favour will unlock material value to shareholders.

Legal proceedings will commence imminently following the nomination of the Company’s Arbitration panellist, which is expected to take place this quarter.”

Background to legal proceedings

On 4 September 2019, Fox Marble launched United Nations Commission on International Trade (UNCITRAL) arbitration proceedings against the Republic of Kosovo for damages in excess of €195M as a result of the failure of the state to protect Fox Marble’s rights over the Malesheve quarry.

The Company believes the Kosovan Government to be in clear breach of its responsibilities towards the Company as a foreign investor in Kosovo and that this action is in the best interests of its shareholders and employees.

On 16 December 2020, Fox Marble announced the appointment of Dentons Europe CS LLP as legal counsel for the €195M proceedings against the Republic of Kosovo and the Company also secured firm commitments of a further £0.5M in the form of litigation funding from private investors.

Further announcements will be made in due course.

This announcement contains inside information for the purposes of Regulation 11 of the Market Abuse (amendment) (EU exit) Regulations 2019/310.

Ends

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

Quatro PR

Gary Pleasants

Tel: +44 (0)207 566 7963/+44 (0)7966 487 739

Mark Herbert

Tel: +44 (0)7770 381608

Brandon Hill (Joint Broker)

Oliver Stansfield

Tel:  +44 (0)20 3463 5000

Allenby Capital (Joint Broker)

Nick Taylor/Nick Athanas/Liz Kirchner (Corporate Finance)

Amrit Nahal (Sales and Corporate Broking)

Tel:  +44 (0)20 3394 2973

Cairn Financial Advisers (Nomad)

Liam Murray/Sandy Jamieson

Tel: +44 (0)20 7213 0880

Notes to Editors

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

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

Director Appointment

Fox Marble Holdings plc
("Fox Marble" or the "Company")

Fox Marble, the AIM listed company focused on marble quarrying and processing in Kosovo and the Balkans region is pleased to announce that Sir Mark Lyall Grant will be joining the board as a Non-executive Director from 3 April 2022.

Sir Mark is one of the United Kingdom's most senior public servants, with more than 30 years of experience in leadership, policy making, negotiation and public presentation. He has held diplomatic postings on four continents, including High Commissioner to Pakistan and Ambassador to the United Nations. He was National Security Adviser to the Prime Minister from 2015 to 2017. He is currently a visiting professor at King's College London, and a Consultancy Adviser on National and International Security.  He is a qualified barrister and was appointed to the Bench of Middle Temple in 2011.

Andrew Allner, Chairman, commented: 

"We are pleased to welcome Sir Mark to the Board and look forward to leveraging his wealth of experience. This appointment comes at an important time for the Company and the Board looks forward to updating the market on progress made between now and the end of the year."

Further information pursuant to Rule 17, Schedule 2 (g) of the AIM Rules is set out below.

Sir Mark Justin Lyall Grant (aged 65) has held the following current and former directorships in the past five years:

Current Directorships

Lyall Grant Consulting Limited

Former Directorships in the past five years

None

Sir Mark does not hold any shares or options in the Company.

There is no other information regarding Sir Mark Lyall Grant required to be disclosed under the AIM Rules.

Ends

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

Quatro PR

Gary Pleasants

Tel: +44 (0)207 566 7963/+44 (0)7966 487 739

Mark Herbert

Tel: +44 (0)7770 381608

Allenby Capital Limited (Joint Broker)

Nick Naylor/Nick Athanas/Liz Kirchner (Corporate Finance)

Amrit Nahal (Sales and Corporate Broking)

Tel: +44 (0)20 3394 2973

Tavira Securities Limited (Joint Broker)

Oliver Stansfield/Jonathan Evans

+44 (0)203 192 1739

Cairn Financial Advisers (Nomad)

Liam Murray/Sandy Jamieson/Ludovico Lazzaretti

Tel: +44 (0)20 7213 0880

Notes to Editors

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

Its marble products, which include Alexandrian Blue, Alexandrian White, Breccia Paradisea, Etruscan gold and Grigio Argent, are gaining sales globally to wholesale companies and directly to luxury residential properties. In the UK these include St George's Homes and Capital and Counties Plc's Lillie Square development. In Sydney, Australia, Rosso Cait, Alexandrian White and Breccia Paradisea have been used in what is expected to be Australia's most expensive residential property. These sales serve to demonstrate the desirability of Fox Marble'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 identified 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 reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors.

New order of processed marble confirmed

Fox Marble Holdings plc
("Fox Marble" or the "Company")

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 signed its fourth contract in less than a year to supply a major municipal construction project in Kosovo.  The contract, valued in excess of €190,000, is to deliver cut and finished paving tiles for installation in the first stage of the redevelopment of the town square in Kamenica, eastern Kosovo.  

The 6,500sq metres of cut and finished paving tiles will be supplied over the course of 2021 using material from Fox Marble’s quarries processed in its factory in Lipjan, Kosovo. This contract has been entered into with the developers charged with restoring the town square, which will be paved with material exclusively supplied by Fox Marble.

Chris Gilbert, CEO, commented

“This contract to supply paving tiles to a Municipality is the fourth such large contract Fox Marble has won since May 2020 and the second one this year alone.  

“Our marble comes from our quarries in Kosovo and North Macedonia and we are proud to supply locally quarried and processed stone to another important municipal development.  These contracts provide a visible example of the quality of both the material and the Company’s finished stone product.

“We are grateful to our dedicated workforce who have contributed so fully to improving the rate of production in our factory allowing us to fulfil these substantial contracts within our existing operating setup and look forward to updating the market as we continue to win more new business in 2021.”

This announcement contains inside information for the purposes of Regulation 11 of the Market Abuse (amendment) (EU exit) Regulations 2019/310.

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 5000

Allenby Capital (Joint Broker)

Nick Naylor/Nick Athanas/Liz Kirchner (Corporate Finance)

Amrit Nahal (Sales and Corporate Broking)

Tel: +44 (0) 20 3394 2973

Cairn Financial Advisers LLP (Nomad)

Liam Murray / Sandy Jamieson

Tel: +44 (0) 20 7213 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 identified 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 reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors.

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Update on €195M Arbitration Proceedings against Republic of Kosovo

Fox Marble Holdings plc
("Fox Marble" or the "Company")

Fox Marble, the AIM listed company focused on marble quarrying and processing in Kosovo and the Balkans region is pleased to announce that eminent British Barrister and Queen’s Counsel, Simon Nesbitt QC (of the Maitland Chambers in London) has been retained to act on Fox Marble’s behalf in support of the ongoing case against the Republic of Kosovo. Mr Nesbitt QC practises exclusively in the field of international arbitration often involved in some of the world’s largest and most high-profile disputes (https://www.maitlandchambers.com/barristers/simon-nesbitt).

Mr Nesbitt QC now joins Dentons Europe CS LLP, the world’s largest law firm by number of lawyers, as part of the legal team acting on the Company’s behalf in its €195M claim against the Republic of Kosovo. As previously announced, the Company has already sourced the required capital to cover all expected costs throughout the Arbitration proceedings.

Fox Marble will now nominate its choice of Arbitration panellist as a final step ahead of the commencement of litigation proceedings. This is well advanced and the Company expects to make it’s submission within the next few days.

In support of its recovery strategy Fox Marble has also now engaged Kroll Associates, another market leader in their field with circa 5,000 professionals operating in 30 countries, to identify and investigate the assets that are owned and under the control of the Republic of Kosovo both within the country and overseas. This will help satisfy any future judgement made in favour of Fox Marble in a timely manner.

Chris Gilbert, CEO of Fox Marble Holdings plc, commented:

“The Company and its advisors continue to strongly believe in the merits of Fox Marble’s €195M case against the Republic of Kosovo. We welcome the appointment of Mr Nesbitt QC to the legal team and look forward to the commencement of legal proceedings following the imminent nomination of the Company’s Arbitration panellist.”

Background to Legal Proceedings

On 4 September 2019, Fox Marble launched United National Commission on International Trade Law (UNCITRAL) arbitration proceedings, against the Republic of Kosovo for damages in excess of €195 million, as a result of the failure of the State to protect Fox Marble's rights over the Maleshevë quarry.

The company believes the Kosovan Government to be in clear breach of its responsibilities towards the Company as a foreign investor in Kosovo and that this action is in the best interests of its shareholders and employees.

On 16 December 2020, Fox Marble announced the appointment of Dentons Europe CS LLP as legal counsel for €195 million arbitration proceedings against Republic of Kosovo and the Company also secured firm commitments of a further £0.5 million in the form of litigation funding from private investors.

Further announcements will be made in due course.

This announcement contains inside information for the purposes of Regulation 11 of the Market Abuse (amendment) (EU exit) Regulations 2019/310.

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 5000

Allenby Capital (Joint Broker)

Nick Naylor/Nick Athanas/Liz Kirchner (Corporate Finance)

Amrit Nahal (Sales and Corporate Broking)

Tel: +44 (0) 20 3394 2973

Cairn Financial Advisers LLP (Nomad)

Liam Murray / Sandy Jamieson

Tel: +44 (0) 20 7213 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. 

Operating Update, Issue of Equity and Notice of Results

Fox Marble Holdings plc
("Fox Marble" or the "Company")

Fox Marble, the AIM listed company focused on marble quarrying and finishing in Kosovo and the Balkans region, is pleased to provide the following operational update ahead of the publication of its preliminary results for the year ended 31 December 2020 which are anticipated to be notified in May 2021.

Highlights

·         Sales for the year ended 31 December 2020 of €0.7 million (2019 - €1.4million).

·         Sales of processed marble increased to €0.6 million from €0.2 million in 2019 reflecting the success of winning large contracts to the Kosovo market.  Sales of block marble fell to €0.1 million from €1.2 million in 2019 as a result of Covid-19 restrictions.          

·         Production for the year ended 31 December 2020 of 6,060 tonnes (2019 – 14,515 tonnes) due to planned stoppages as a result of Covid-19.

·         Processing volumes increased 300% through the factory, as a result of increased demand for material, as well as process improvements made.

·         Fundraising completed raising £1.0 million in December 2020 together with litigation funding committed of £0.5 million to fund arbitration case.  Dentons Europe CS LLP engaged as counsel in December 2020.  

Sales

Sales of processed marble have increased to €0.6 million from €0.2 million in 2019, of which €0.45 million occurred in H2 2020.  A number of new contracts were signed for processing services and processed marble which formed the backbone of sales through the end of 2020 and are expected to continue into 2021. 

·         The Suhareka square in Kosovo contract, announced on 14 April 2020, to supply up to 20,000 square metres of paving.  Material already specified and contracted under the first two stages of the project has a total value in excess of €400,000, and once all 20,000 square metres have been supplied the project is expected to be worth in excess of €750,000, as announced on 13 May 2020.   Fox Marble has supplied over 10,000 sqm of material since June 2020.

·         A contract to supply 20,000 square metres of cut and finished paving tiles for installation in the town square for the Municipality of Poduyeva in Kosovo, announced on 30 July 2020. Fox Marble began supplying material for this project in August 2020 and has supplied over 4,000 square metres of material to date. The Company received confirmation of Phase II of the project in January 2021, and the total value of this contract is around €700,000 over 2020 and 2021, as announced on 30 July 2020 and a further update announcement released by the Company on 4 February 2021. 

·         A contract to supply 35,000 square metres of cut and polished tiles to CC Apartments LLC, announced on 23 June 2020.  CC Apartments LLC is engaged in developing several prestigious projects including apartments in Kosovo, as well as Albania and surrounding countries.   Fox Marble will be processing blocks of a range of marble from its own quarries for this project and supplying this material from its factory in Kosovo over the course of 2021 starting next month.  The total value of the contract is in excess of €700,000.

Sales of block marble have fallen significantly in 2020 from €1.2 million in 2019 to €0.1 million in 2020 due to the impact of COVID-19 on block marble sales.  From January 2020, COVID-19’s impact on the Chinese market had an immediate effect. As the pandemic spread, global travel restrictions severely impeded the international trade in blocks. As travel restrictions lift in 2021, the Company expects to see growth in block sales.

Quarry Production

The Group elected to significantly scale back quarry production in order to keep operational cash flow neutral in the face of the fall in demand for block marble caused by COVID-19.  As a result, production fell from 14,515 tonnes in 2019 to 6,060 tonnes in 2020.   Production at Prilep was re-started in August 2020, though production levels continued to be closely monitored.  The Prilep quarry continues to supply block material to the factory in Kosovo.

Cervenillë quarry was the first of our sites opened in November 2012.  It is open across three separate locations (Cervenillë A, B & C) from which red (Rosso Cait), red tinged grey (Flora) light and darker grey (Grigio Argento) marble can be accessed.   The quarry was re-opened in September 2020 to address the demand for Argento Grigio from existing and future processed marble contracts.

The Syriganë quarry in Kosovo – sources of Breccia marbles, is in good condition, with machinery on site and ready for deployment.  At present we do not have quarry teams on site, as we have a significant reserve of stock of materials, however the quarries can be staffed at short notice. 

The foundation of a successful and growing natural stone company is its reserves base. Fox Marble's strategy is to seek to grow this over the medium term, should the appropriate opportunities be available and subject to detailed drilling and exploration. Opening new quarries over the medium term will provide the opportunity to increase both block sales and processed marble from the factory. The Company continues to keep new sites for development under review.

Factory

Fox Marble’s processing facility is a 5,400 square metre double skinned steel factory for the cutting and processing of blocks into polished slabs and tiles which was erected on a 10-hectare site that the Company acquired in Lipjan in 2013, close to Pristina airport in Kosovo.

In June 2020, the Company announced that it had acquired two additional automatic CNC cutting machines to be installed in its factory in Kosovo.   The two machines were manufactured by Simec Srl and Garcia Ramos SA and with the existing Gravellona Machine Marmo CNC machine have doubled the capacity to cut tiles.  The machines have been installed and are now fully operational.

The machines, and procedural improvements implemented have helped drive an increase in processing volumes 300% from 2019 to 2020. We continue to examine ways to increase levels of production and operating efficiency through 2021.

Dispute and Arbitration Claim

Fox Marble has engaged the services of Dentons Europe CS LLP (“Dentons”) to act on the Company’s behalf in its circa €195 million claim against the Republic of Kosovo (“the Arbitration”). Dentons have agreed a fee arrangement which enables Fox Marble to bring the Arbitration through to its conclusion.

To complement this arrangement with Dentons, the Company announced on 16 December 2020 that it had secured firm commitments of £0.5 million (“Litigation Fund”) in the form of litigation funding from private investors.

This funding, plus a pre-agreed return on investment, will only be repaid if the Arbitration proceedings are successful.

The Company also conducted a placing raising £1.05 million before expenses, which along with the Litigation Fund and the fee arrangement with Dentons are collectively expected to cover all costs throughout the Arbitration process and has allowed Fox Marble to commence preparations for the formal proceedings against the Republic of Kosovo.

Issue of shares

The Company has issued a total of 5,000,000 new ordinary shares in the Company to five individuals in lieu of cash payments.  The issue of shares reflects the contributions made to the Company by these individuals.

Application will be made for 5,000,000 ordinary shares issued to be admitted to trading on AIM, which is expected to occur on or around 19 February 2021 at 8.00am (“Admission”) and will rank equally in all respects with the Company's existing ordinary shares.

Total Voting Rights

In accordance with Rule 5.6.1 of the Disclosure and Transparency Rules (“DTRs”), the Company’s issued share capital following Admission will consist of 378,872,214 ordinary shares of 1 pence each. The Company does not hold any ordinary shares in treasury. Therefore, the total number of voting rights in the Company following Admission is 378,872,214.

The above figure of 378,872,214 may be used by shareholders in the Company 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 Company under the DTRs.

Chris Gilbert, CEO of Fox Marble, commented:

“2020 was a year dominated by the impact of COVID-19, both on the market in which Fox Marble operates and directly on Fox Marble’s operations. Despite a turbulent year, the Company has made significant progress in several areas. Sales of processed marble have increased significantly, driven by the large contracts signed in 2020 within Kosovo, supported by targeted capital expenditure and a focus on process improvements. Funding has been secured for our Arbitration case, and we can now expect to see progress on this matter. While the block marble market was very disappointing in 2020, we are starting to see some green shoots of recovery and are confident that 2021 will see a gradual return to normal sales volumes.”

This announcement contains inside information for the purposes of Regulation 11 of the Market Abuse (amendment) (EU exit) Regulations 2019/310. The Directors of the Company take responsibility for this announcement.

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 5000

Allenby Capital (Joint Broker)

Nick Naylor/Nick Athanas/Liz Kirchner (Corporate Finance)
Amrit Nahal (Sales and Corporate Broking)
Tel: +44 (0) 20 3394 2973

Cairn Financial Advisers LLP (Nomad)

Liam Murray / Sandy Jamieson
Tel: +44 (0) 20 7213 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 identified 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 reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors.

New order - Phase II of Poduyeva announced

Fox Marble Holdings plc
("Fox Marble" or the "Company")

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 received a new order for the supply of cut and polished paving tiles as part of Phase II of the contract for the Municipality of Poduyeva in Kosovo (the “Project”).

Phase II consists of the delivery of 6,600 square metres of processed material.  The Company will supply the block marble from its quarries before cutting and finishing in its factory in Kosovo. Work is expected to commence on the project in March 2020 and is expected to generate circa €250,000 to the Company.

This is the second order with respect to Poduyeva for Fox Marble.  Fox Marble began supplying material under the Poduyeva contract, details of which were previously announced on 30 July 2020, and has supplied 4,000 square metres of material to date.  The total contract is expected to be for approximately 20,000 sqm of material.

Chris Gilbert, CEO, commented

“This new order to supply paving tiles to the Poduyeva Municipality is a testament to the value of our stone, the quality of our processed material and the efficiency with which we have supplied the stone for Phase I of the development in this town square.

We continue to be the leading provider of dimension stone within Kosovo.  Our marble comes from our quarries in Kosovo and North Macedonia and we look forward to reopening our quarries following the winter shutdown.

We are proud of our workforce who have contributed so fully to improving the rate of production in our factory allowing us to fulfil these substantial contracts within our existing operating setup.  I look forward to updating the market on additional contracts, which we expect will be formalised in the current quarter.”

This announcement contains inside information for the purposes of Regulation 11 of the Market Abuse (amendment) (EU exit) Regulations 2019/310. The Directors of the Company take responsibility for this announcement.

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 5000

Allenby Capital (Joint Broker)
Nick Naylor/Nick Athanas/Liz Kirchner (Corporate Finance)
Amrit Nahal (Sales and Corporate Broking)
Tel: +44 (0) 20 3394 2973

Cairn Financial Advisers LLP (Nomad)
Liam Murray / Sandy Jamieson
Tel: +44 (0) 20 7213 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. 

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Results of General Meeting and Issue of Shares

Fox Marble Holdings plc
("Fox Marble" or the "Company")

Fox Marble, the AIM listed company focused on marble quarrying in Kosovo and the Balkans region is pleased to announce that at the General Meeting of the Company held today, all resolutions proposed in the notice of General Meeting sent to shareholders dated 16 December 2020 were duly passed.

The results of the voting will be available shortly on the Company’s website: www.foxmarble.net.

As a consequence, application has been made for 65,500,000 ordinary shares issued pursuant to the Placing to be admitted to trading on AIM, which is expected to occur on 5 January 2021 at 8.00am (“Admission”) and will rank equally in all respects with the Company's existing ordinary shares.

Total Voting Rights

In accordance with Rule 5.6.1 of the Disclosure and Transparency Rules (“DTRs”), the Company’s issued share capital following Admission will consist of 373,872,214 ordinary shares of 1 pence each. The Company does not hold any ordinary shares in treasury. Therefore, the total number of voting rights in the Company following Admission is 373,872,214.

The above figure of 373,872,214 may be used by shareholders in the Company 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 Company under the DTRs.

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

Allenby Capital Limited (Joint Broker)

Amrit Nahal (Broking)

Nick Naylor/Nick Athanas/Liz Kirchner (Corporate Finance)

Tel: +44 (0) 203 328 5656

Brandon Hill Capital (Joint Broker)

Oliver Stansfield

Tel: +44 (0) 20 3463 5000

Cairn Financial Advisers LLP (Nomad)

Liam Murray / Sandy Jamieson

Tel: +44 (0) 20 7213 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 Marble’s premium marble products as the stone of choice in some of the most prestigious and expensive residential developments around the world.