New processing agreements signed

17 February 2020

 Fox Marble Holdings plc

("Fox Marble" or the "Company")

New processing agreements signed

Fox Marble, the AIM listed company focused on marble quarrying and finishing in Kosovo and the Balkans region is pleased to announce that it is has signed two new agreements for the processing of third-party blocks with Egzoni Sh.p.k ("Egzoni") and Skifteri Sh.p.k ("Skifteri").

Under these new agreements, Fox Marble will process stone on behalf of Egzoni and Skifteri at the Company's factory at Lipjan in Kosovo.  The agreements are for two years with an expected volume of 325 tons per month, generating approximately €300,000 per year in expected revenues.

These agreements represent further development of this new revenue stream for the Company, whereby Fox Marble provides marble cutting and polishing services to other companies quarrying in the wider Balkan region. These agreements have allowed Fox Marble to expand capacity at the factory whilst maximising operating efficiencies and continuing to process Fox Marble's own material for sale.  Fox Marble's ability to enter into such agreements has been driven by the adoption of a new flexible multi-shift system and is part of an overall factory improvement programme achieved since the recent non-Board appointments of Francisco Espinosa (COO and Head of Sales) and Secundino Costas da Villa (Technical Factory Manager).

Chris Gilbert, CEO, commented "These new agreements demonstrate the validity of the decision to introduce this new revenue stream. It allows Fox Marble to utilise more of its factory capacity and increase operating efficiency, whilst still processing its own marble for sale globally as well as in the wider Balkan market. We look forward to our ongoing partnership with Skifteri and Ezgoni."

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:

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.