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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Sigmaroc Plc | LSE:SRC | London | Ordinary Share | GB00BYX5K988 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.10 | 0.16% | 64.30 | 63.90 | 64.30 | 64.30 | 63.90 | 64.30 | 103,897 | 10:00:33 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Investment Advice | 580.29M | 13.53M | 0.0121 | 53.06 | 715.74M |
TIDMSRC
RNS Number : 0349V
SigmaRoc PLC
31 October 2017
SigmaRoc plc / EPIC: SRC / Market: AIM / Sector: Construction Materials
31 October 2017
SigmaRoc plc
('SigmaRoc' or the 'Company')
Start of exploratory drilling at new Guernsey quarry
SigmaRoc plc, the buy-and-build construction materials group, is pleased to announce that its subsidiary Ronez Ltd ("Ronez"), the Channel Island construction materials producer, has begun the next phase to establish a new quarry site on Chouet headland in Guernsey. Exploratory drilling, scheduled to begin on 6 November 2017, will contribute to the ongoing evaluation of the site's potential and is an essential part of the planning application.
The Board believes that production at Chouet could initially start in 2021 and that a quarry at Chouet would have a lifespan of at least 40 years during which time hardstone could be extracted from both freeheld mineral and further mineral held by the States of Guernsey. Ronez is in discussions with the States of Guernsey Development and Planning Authority over drawing up a development framework for the site allowing for the most efficient utilisation of the reserves.
Sigmaroc CEO, Max Vermorken, said: "We are pleased to be initiating this exploratory work at Chouet Headland. Quarrying is strategically important to Guernsey and we are convinced that a new quarry would provide decades of sustainability for the local industry."
Earlier this month, SigmaRoc announced the acquisition of Topcrete Limited and its wholly owned subsidiary Allen Concrete Limited for an initial cash consideration of GBP9m and a deferred consideration of GBP3.5m.
Ronez is a wholly-owned subsidiary of SigmaRoc, which acquired the business for GBP45m in January 2017.
Enquiries:
Tel: +44(0)207 002 SigmaRoc 1080 Max Vermorken, CEO Strand Hanson (Nominated and Tel: +44(0)207 409 Financial adviser) 3494 James Spinney / James Dance Zeus Capital Limited (Joint Tel: +44(0)203 829 Broker) 5000 Rob Collins / Alex Wood Tel: +44(0)203 207 Berenberg (Joint Broker) 7800 Ben Wright / Mark Whitmore / Laure Fine Temple Bar Advisory (Financial Tel: +44(0)207 002 PR adviser) 1486 Ed Orlebar / Tom Allison / Alycia MacAskill sigmaroc@templebaradvisory.com
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement via Regulatory Information Service, this inside information is now considered to be in the public domain.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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October 31, 2017 03:00 ET (07:00 GMT)
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