12th May 2015 07:39
LONDON (Alliance News) - Fox Marble Holdings PLC Tuesday said it has raised GBP2.0 million by placing 10 million new shares at 20 pence each, money it hopes to use to repay a GBP1.1 million convertible loan that it has with Amati Global.
The marble quarrying company operating in Kosovo said it will also use some of the proceeds to buy more equipment for the processing facility in Kosovo, which is nearing completion, as well as to establish a joint venture in North America in an effort to increase its penetration into the world's largest polished marble market.
Fox Marble shares were down 6.7% at 19.95 pence early Tuesday.
By Steve McGrath; [email protected]; @stevemcgrath1
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