19th Dec 2019 17:24
(Alliance News) - Quarrying and stone marketing company Fox Marble Holdings PLC said Thursday it raised GBP775,000 from placing 29.2 million new shares at 2.65 pence each.
Fox Marble said the proceeds will be used to fund capital equipment and working capital at its quarry site in Macedonia to expand production capabilities to supply increased demand for material in 2020.
The company said directors Chris Gilbert and Roy Harrison are participating in the placing and are respectively subscribing for 1.9 million shares and 3.8 million shares. The duo now hold 21.3 million shares and 10 million shares respectively.
In addition, Fox Marble also issued shares at same price to settle director fees of GBP60,000.
The stock closed up 1.9% at 2.70p on Thursday.
By Arvind Bhunjun; [email protected]
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