Fox Marble Holdings PLC Admission to AIM and First Day of Dealings (4232B)

TIDMECOB

RNS Number : 4232B

Fox Marble Holdings PLC

02 June 2023

2 June 2023

Certain information contained within this Announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 ("MAR") as applied in the United Kingdom. Upon publication of this Announcement, this information is now considered to be in the public domain.

Fox Marble Holdings plc (to be renamed Eco Buildings Group plc)

(the "Group")

Admission to Trading on AIM and First Day of Dealings

Fox Marble Holdings plc (AIM: ECOB) (to be renamed Eco Buildings Group plc), is pleased to announce the readmission of its shares to trading on AIM ("Admission") following completion of the reverse takeover of Eco Buildings Group Limited ("Eco Buildings" and the enlarged group following Admission being the "Group"), a company that will operate in the prefabricated modular housing sector.

Eco Buildings 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 has joined the 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, and has initially secured two contracts in Albania that are expected to generate gross sales revenue of up to EUR114 million in total over the first three years following Admission.

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.

Sanjay Bowry, the incoming CEO of the Enlarged Group, commented: "We are very proud to be re-joining AIM today with Eco Building's new strategic focus. We have an exciting opportunity ahead of us and being a quoted business will allow us to capitalise on this and accelerate our growth plans."

Placing

The Group has successfully raised GBP2.7 million (before expenses) via a placing of 4,946,313 new ordinary shares at an issue price of 55 pence per share (the "Placing"). The net proceeds of the Placing will be used to expand the Enlarged Group's production capacity, meet its obligations under two existing sales contracts and accelerate growth.

SPARK Advisory Partners Limited is acting as Nominated Adviser and Tavira Financial Limited is acting as broker in relation to Admission.

The ISIN of the Ordinary Shares is GB00BRJTP124, the SEDOL of the Ordinary Shares is BRJTP12 and the Group's LEI number is 213800GJKNNE3VRWDD37.

Total Voting Rights

The number of shares in issue immediately after Admission is 70,070,080 giving the Group a market capitalisation of approximately GBP38.5 million at the issue price of 55 pence per share. Admission took place at 8.00 a.m. today, 2 June 2023.

The Group holds no shares in treasury and therefore the figure above 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 share capital of the Group under the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority.

Change of Name and TIDM

The Group's TIDM has changed to "ECOB" with effect from Admission. The Group has today resolved to change its name to Eco Buildings Group plc ("Change of Name"), the Change of Name is being processed by Companies House and will take effect on the London Stock Exchange once this has occurred.

Board Changes

On Admission, Sanjay Bowry, Etrur Albani, Dominic Redfern and Ahmet Shala will join the Board, Christopher Gilbert and Roy Harrison have stepped down from the Board.

Full details of the Directors are given in the Group's Admission Document dated 28 April 2023. There are no further disclosures to be made pursuant to Schedule Two paragraph (g) of the AIM Rules for Companies.

Christopher Gilbert, departing Chief Executive Officer, commented: "I, along with my colleague Roy Harrison, as departing directors, would like to wish Sanjay Bowry and the Eco Buildings' team the very best on their future endeavours. We are proud of what Fox Marble has achieved in completing the reverse takeover of Eco Buildings and have every confidence the executive team will deliver significant long-term value for the Group's shareholders"

For more information on Eco Buildings please visit www.eco-buildingsplc.com or contact:

 
 Fox Marble Holdings PLC (to be renamed       Tel: +44 (0)20 7380 
  Eco Buildings Group plc)                     0999 
  Sanjay Bowry, Chief Executive Officer 
  Fiona Hadfield, Finance Director 
 Spark Advisory Partners Limited (Nominated   Tel: +44 (0)20 3368 
  Adviser)                                     3550 
  Matt Davis / James Keeshan 
 Tavira Financial Limited (Broker)            Tel: +44 (0)20 3192 
  Oliver Stansfield/Jonathan Evans             1739

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June 02, 2023 03:05 ET (07:05 GMT)

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