Fox Marble Holdings PLC Issue of Convertible Loan Note (6523J)

TIDMFOX

RNS Number : 6523J

Fox Marble Holdings PLC

30 June 2017

 
 AIM: FOX    30 June 2017 
 

Fox Marble Holdings plc

("Fox Marble" or the "Company")

Issue of Convertible Loan Note

Fox Marble, the AIM listed company focused on marble quarrying and finishing in Kosovo and the Balkans region, is pleased to provide the following update to the market.

The Company confirms that it has issued a new convertible loan note with a value of GBP440,000 ("Series 3 Loan Note") to a non related party. This new Series 3 Loan Note has an interest rate of 8%, in line with the Series 1 Loan Note issued to Amati Global Investors Limited. The Loan Note is due for conversion or repayment on 31(st) August 2019 with a conversion price set at 10p.

Chris Gilbert, CEO, commented:

"This new convertible gives us flexibility during this turnaround year as we generate more revenue from the sales of our marble worldwide."

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

 
 Fox Marble Holdings 
  plc 
 Chris Gilbert, Chief       Tel: +44 (0) 
  Executive Officer          20 7380 0999 
 
 Cairn Financial Advisers 
  LLP (Nomad) Liam            Tel: +44 (0) 
  Murray                      20 7213 0883 
 Brandon Hill Capital 
  (Broker) 
 Oliver Stansfield          Tel: +44 (0) 
                             20 3463 5000 
 
 Yellow Jersey PR 
  Felicity Winkles          Tel: +44 (0) 
   Francesca Hillier         77 4884 3871 
                             Tel: +44 (0) 
                             7708 400 470 
 

Notes to Editors

Fox Marble Holdings Plc is an AIM quoted natural stone extraction Company operating in Kosovo and the Balkans region, with headquarters in the United Kingdom.

The Company has been granted mining licences in relation to six separate marble quarries and completed a maiden JORC resource indicating an in-situ valuation of approximately Euro 16.5 billion. Established in 2011, Fox Marble has access to over 300 million cubic metres of premium quality marble.

Fox Marble also has rights to extract marble from the Drini and Malesheva quarries, both in Kosovo and from the Prilep Quarry in Macedonia.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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June 30, 2017 02:00 ET (06:00 GMT)