Fox Marble wins damages and costs re Arbitration Award

Fox Marble Holdings plc

("Fox Marble" or the "Company")

Fox Marble wins damages and costs of c £800,000 re Arbitration Award

Fox Marble, the dimension stone company focused on marble quarrying and processing in Kosovo and the Balkans region announces the results of its arbitration proceedings in the London Court of International Arbitration ("LCIA") against a customer based in India.

In 2017, Fox Marble signed an off-take agreement with the customer. The parties fell into dispute about their respective obligations under, and the performance of, that agreement.  On 13 August 2020, commercial arbitration proceedings at the LCIA were initiated. 

Following a hearing, on 11 November 2022, the LCIA issued an award in favour of Fox Marble with an award of €383,177 in damages plus £454,584 in costs.  No other issues remain to be determined in the arbitration.

Each party now has 28 days to submit corrections and also to seek to challenge the award, subject to which the award is final and binding, and the customer is obliged to carry out its obligations under it.   The amounts awarded bears an interest rate of 8% per annum, compounded annually. 

Fox Marble intend to pursue recovery of these amounts. Fox Marble would like to thank Edwin Co LLP for their assistance in the proceedings.

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

Tavira Securities Limited (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.

Result of AGM

Fox Marble Holdings plc

("Fox Marble" or the "Company")

Result of AGM

Fox Marble announces that at its AGM held on 27 October 2022, 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

Tavira Securities Limited (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.

Publication and Posting of Annual Report

Fox Marble Holdings plc

(“Fox Marble” or the “Company”)

Publication and Posting of Annual Report

Fox Marble, the AIM listed company focused on marble quarrying and processing in Kosovo and the Balkans region announces today that, further to the preliminary results announced on 30 June 2022, the Company’s Annual Report has been published and will shortly be posted to shareholders, and will be available shortly on the Company’s website: https://www.foxmarble.net/.

Further to the announcement of 11 April 2022, the Company was suspended from trading on AIM on 11 April 2022 and remains so, pending either the publication of an admission document or until the proposed acquisition negotiations are terminated.

Pursuant to AIM Rule 41, if the Company's ordinary shares have been suspended from trading for a period of six months, the admission of its ordinary shares to trading on AIM will then be cancelled.

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

Tavira Securities Limited (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.

Interim Results for the six months ended 30 June 2022

Read More

Eco Buildings Group Limited – Transaction Update

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA, THE UNITED STATES OR ANY OTHER JURISDICTION WHERE TO DO SO MIGHT CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.

This announcement does not constitute or form part of, and should not be construed as, an offer to sell or issue, or a solicitation of any offer to buy or subscribe for, any securities, in any jurisdiction, including in or into the United States   of America (including its territories and possessions, any state of the United States and the District of Columbia (the "United States" or the "US")), Australia, Canada, Japan, the Republic of South Africa (each a "Restricted Jurisdiction") or any other jurisdiction where to do so might constitute a violation or breach of any applicable law nor should it or any part of it form the basis of, or be relied on in connection with, any contract or commitment whatsoever.

Investors should not use this announcement as the basis for any investment in the securities of the Company which should only be made on the basis of information contained in the admission document (the "Admission Document") intended to be published by Fox Marble plc (the "Company" or "Fox Marble" and, together with its subsidiary undertakings, the "Group") in due course in connection with the proposed reverse takeover of Eco Buildings Group Limited and the subsequent readmission of its ordinary shares to trading on the AIM market ("AIM") of London Stock Exchange plc (the "London Stock Exchange"), ("Admission").  Copies of the Admission Document will, following publication, be available for inspection on the Company's website at   www.foxmarble.net.

Fox Marble Holdings plc

  ("Fox Marble" or the "Company")

Eco Buildings Group Limited – Transaction Update

The Directors of Fox Marble are pleased to provide an update, further to the announcement on 11 April 2022, on the proposed reverse takeover ("RTO") of Eco Buildings Group Limited (“Eco Buildings”) by the Company.

The RTO

The Company is proposing to acquire the entire issued share capital of Eco Buildings for an aggregate purchase price of £30 million, to be satisfied by the issue of ordinary shares in the Company. It is therefore estimated that the Company as enlarged by the acquisition will have an equity value of £34.4m (based on Fox Marble’s share price at the time of suspension being 1.085p).  In addition, as part of the RTO, the Company is also proposing to raise up to £10m by way of a placing (the “Placing”).

There can be no guarantee that the RTO nor the Placing will be completed as they are subject to a significant number of pre-conditions, which inter alia, include the following:

·        readmission of the Company’s shares to trading on AIM following the acquisition and obtaining of all relevant approvals (“Admission”) becoming effective;

·        Shareholder approval in a general meeting;

·        Certain Regulatory approvals being received;

·        The publication of an admission document by the Company; and

·        A placing agreement becoming unconditional in all respects (save for Admission).

Information on Eco Buildings

Eco Buildings will operate in the prefabricated modular housing sector. Eco Buildings has 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 will be joining the revised 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, to secure two initial contracts that are expected to generate first sales revenue of approximately €38 million per annum in the first three years following Admission (c. €114 million in total).

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.

The Directors believe that Fox Marble’s existing building products and operations should deliver revenue synergies when combined with Eco Buildings. These include Fox Marble’s intention to supply and process dimensional marble from its existing quarries for use within Eco Buildings’ modular housing projects. The Directors believe that by developing Eco Buildings’ pipeline of prospective projects globally, it intends to also further expand the markets in which Fox Marble’s dimensional stone product can be marketed.

Walling System Manufacturing Process

Eco Buildings’ panels are manufactured using a panel casting system. It involves a single vertical panel casting machine which automates the moulding process and uses a liquid mix of calcined plaster, water, fiberglass rovings, together with proprietary waterproofing agents and curing admixtures.

Eco Buildings’ first production line, which consists of a vertical panel casting machine and supporting equipment has been moved from the United Arab Emirates (UAE) to a newly built 2,400m2 factory building in Albania for the sake of proximity to its initial contracted customers and is anticipated to be operational in Q4 2022. A production line is capable of producing 11,264m2 of panelling per month or the equivalent of 31 housing units (372 units annually).

The 8,000m2 factory site is located close to Albania’s capital, Tirana, adjacent to the port of Durres, Albania’s principal seaport.

Operational Expansion

Once the facility is fully operational, Eco Buildings plans to expand as follows:

Phase I

•          Increase the number of production lines from 1 to 4 – to meet existing contractual obligations, the Directors intend to add a second and third line to the factory in 2023 and a fourth in 2024. The first three production lines are expected to produce approximately 1,100 residential units per annum with production capacity increasing to approximatley 1,500 units per annum when the fourth line is added.

•          Vertical integration – Once the Company is cash flow positive Eco Buildings intends to construct a calcination plant. This will allow the Group to produce its own GFRG, the key raw material in the production of the Eco Buildings’ turnkey solution.

Phase II

Approximately one-third of the urban population in the southern hemisphere live in informal settlements, which lack access to basic services such as electricity, running water, or sanitation.

After an extensive ideation and conceptual design process, the Group intends to complete the manufacturing, design and construction of the first of its mobile manufacturing units that can be deployed at speed remotely in 2023. These ‘pop up’ facilities will be used in areas with less developed infrastructure than the factory site and/or areas where traditional construction is markedly less cost effective than the Eco Buildings’ system deployed locally and/or at large-scale, multi-year new town or new community developments where there significant social, logistical or financial gains can be made over several project phases.

Update on Temporary Suspension

Further to the announcement of 11 April 2022, the Company was suspended from trading on AIM on 11 April 2022 and remains so, pending either the publication of an admission document or until the proposed acquisition negotiations are terminated.

Pursuant to AIM Rule 41, if the Company's ordinary shares have been suspended from trading for a period of six months, the admission of its ordinary shares to trading on AIM will then be cancelled.

A further announcement will be made in due course on publication and posting of the Company's audited final results.

Ends

This announcement contains inside information as stipulated under the UK Market Abuse Regulations. 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

Tavira Securities Limited (Broker)

Oliver Stansfield

Tel: +44 (0) 20 7100 5100

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 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.

Preliminary Results for the year ended 31 December 2021

Read more

Proposed Acquisition, Convertible Loan Note and Temporary Suspension

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 arranged funding by way of a convertible loan note of £400k.  The purpose of this fundraising is to provide a loan facility to assist in the planned acquisition of the entire issued share capital of ECO Buildings Group Limited (“Eco Buildings”) (the “Proposed Acquisition”). The Company has agreed heads of terms with Eco Buildings for the Proposed Acquisition.

Proposed Acquisition

The Proposed Acquisition will constitute a reverse takeover pursuant to AIM Rule 14 under the AIM Rules for Companies.

As part of the process, Fox Marble intends to undertake a significant capital expansion, including capital reorganisation and change its name to ECO Buildings Group Plc (the “Enlarged Group”). The Proposed Acquisition is conditional on, inter alia, certain approvals and a shareholder vote at a General Meeting of the Company.  There can be no certainty nor guarantee that the Proposed Acquisition will complete.

Eco Buildings, a recently incorporated English private limited company will design, manufacture, and construct buildings made from glass fibre reinforced gypsum (GFRG) modular sections that capture cost and design efficiencies and advantages in build quality and performance that traditional building methods cannot deliver.

It is the Company’s intention that the Proposed Acquisition will be structured in such a way that any benefits arising from the successful conclusion of its legal proceedings against the Republic of Kosovo, as previously announced on 30 September 2021, will be distributed to the benefit of the current shareholders of the Company only. 

Convertible Loan Note

As part of the Proposed Acquisition, Fox Marble has raised approximately £400k by way of a convertible loan note (“CLN”) with which it has made a loan facility of up to £400k available to ECO Buildings for general working capital needs ahead of the Proposed Acquisition (the “Loan Facility”).  The Loan Facility will have an interest rate of 2% per annum and may be drawn down in four tranches.  The Loan Facility is repayable on the earlier of (i) the date of completion of the Proposed Acquisition, (ii) twelve months after the date of the heads of terms, or (iii) three months after the date that the Proposed Acquisition negotiations are terminated.

The CLN will carry an interest rate of 2% per annum deferred for 2 years and a term of 5 years.  The CLN is convertible into Fox Marble ordinary shares at a price of 6 pence per share. Should the Proposed Acquisition not be completed by 31 December 2022, the CLN will only be repayable to the extent that the Loan Facility is repaid to Fox Marble.

Temporary Suspension

Accordingly, at the request of the Company, the Company's ordinary shares will be suspended from trading on AIM with effect from7.30 a.m. on 11 April 2022, pending either the publication of an admission document or until the Proposed Acquisition negotiations are terminated.

Pursuant to AIM Rule 41, if the Company’s ordinary shares have been suspended from trading for a period of six months, the admission of its ordinary shares to trading on AIM will then be cancelled.

A further announcement will be made in due course.

Chris Gilbert, CEO, commented

“The opportunity for Fox Marble to undertake the Proposed Acquisition represents a unique significant move to grow into a much larger group with the expectation of increased growth as a result. Housing is one of the basic human needs and is fundamental to reduce poverty, provide equal opportunities and this scheme will allow the combined group to address the very large housing deficit that exists in many parts of the world which its housing product is very efficiently able to solve. It is not only relatively inexpensive compared to other building methods, but also robust, high quality and fast to manufacture, deploy and erect on site.  The Fox Marble business unit within the Enlarged Group will continue to grow its own business as previously and additionally benefit from supplying its processed marble to the housing manufactured and installed by the Eco Buildings unit.

“Globally, while governments and international bodies place a high priority on making housing available and affordable, they struggle to meet this challenge because traditional construction is inherently high cost in terms of labour, raw material and environmental impact.  ECO building provides one way to help address this crisis.”

Ends

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

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)

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.

Update on processed marble

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 a contract to supply BA Engineering & Consulting Sh.p.K ("BA Engineering") with an initial 8,000 square metres of cut and polished tiles for an approximate value of €200,000. Fox Marble will process blocks from its quarries through its 100% owned processing facility, with first deliveries expected to take place in March 2022, with the full value of the contract expected to be recognised in the current financial year.

BA Engineering is a local Kosovan construction company with multiple developments in Kosovo. Given BA Engineering is also engaged in developing a number of large prestigious projects in Kosovo, the Company believes this will be the first of a series of orders that BA Engineering will place.

In addition, the Company has signed a non-binding agreement to supply Unik Construction LLC with up to 30,000 square metres of material for ongoing projects they are planning across Europe. The Company expects the first orders under this agreement in Q2 2022. There are no minimum order levels associated with the agreement.

Chris Gilbert, CEO, commented

"These contracts to supply cut and polished tiles reaffirms our position as a leading provider of dimension stone within Kosovo. We look forward to working with BA Engineering and Unik going forward and establishing an ongoing relationship.

"With the winter now behind us, we are once again able to access our quarries and recommence extracting block marble. This will not only enable us to meet existing orders of cut and polished stone, but also enable us to capitalise on the increased interest we are seeing for block marble purchases following the COVID-19 pandemic.

"Following our capital raise in December 2021, we are purchasing additional machinery. With this expanded capacity in place, we will look to complete on additional contracts for cut and polished stone."

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

Tavira Securities (Joint Broker)

Oliver Stansfield

Allenby Capital (Joint Broker)

Amrit Nihal/Nick Naylor

Tel: +44 (0) 20 3192 1739

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.

Appointment of Broker

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

Further to the Company's announcement of 5 January 2022, Fox Marble, the AIM listed marble production company with operations in Kosovo and the Balkans, is pleased to announce the appointment of Tavira Securities Limited ("Tavira") as Joint Broker to the Company effective immediately. As previously announced, Tavira has recruited senior personnel that managed the Fox Marble relationship for the Company's former broker, Brandon Hill Capital Limited. 

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)

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.

Change of Broker

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

Fox Marble, the AIM listed marble production company with operations in Kosovo and the Balkans, is pleased to announce its intention to appoint Tavira Securities Limited (“Tavira”) as its joint broker.

Tavira has recruited senior personnel from the Company's historic broker Brandon Hill Capital Limited and accordingly both Brandon Hill Capital Limited and the Company have now terminated the existing broker engagement with immediate effect and by mutual consent.

Pending the expected appointment of Tavira as joint broker Allenby Capital Limited will act as the Company’s sole broker.

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 (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.