25th Jan 2016 10:41
LEED RESOURCES PLC
("Leed" or "the Company")
Commencement of Wall Panel Deliveries
Leed Resources plc, (AIM: LDP), the natural resource investment company, is pleased to give an update on the delivery of the wall panels at High Mannor (“HM”), the West Australian producer of limestone retaining walls for the construction industry. The wall panels are being produced under HM’s brand name “Cultural Limestone”.
Following extensive testing of the product, HM has advised that its first delivery of the patented wall panels commenced on Friday 22 January 2016 to one of its largest customers in Perth. Further deliveries are due to be made this week and the rolling out of the panels to other customers is expected to commence shortly thereafter.
A selection of photographs showing the wall panels’ delivery and installation process will shortly be made available on the Leed website www.leedresourcesplc.com.
The wall panels represent a major new innovation in the retaining wall sector of the Western Australian construction market. These panels enable substantially quicker and lower cost installation, providing a significant uplift in HM’s margins compared to the laying of individual blocks and give contractors the ability to complete projects more efficiently than by using traditional methods. HM expects that the wall panels will be in high demand with the contractors and indeed the developers of residential development projects.
Ian Gibbs, Chairman of Leed, said, “I am extremely pleased to confirm the first delivery of this much anticipated product. It was the attraction of the panels that drew us to our initial investment in the business. Although it has taken longer than expected, the commencement of panel deliveries is exciting news for High Mannor, as well as Leed, and we are confident that High Mannor will now begin to reap the benefits of this exciting innovation. High Mannor now have, as well as a patented product, first mover advantage in this market and we expect High Mannor to be the “go to” supplier of reconstituted limestone walls in Western Australia. I look forward to providing a further update on the panels in the near future.”
| For further information, please contact: Leed Resources plc | |||
| Ian Gibbs | |||
| Charles Zorab | Tel: +44 203 405 4214 | ||
| Nomad and Broker | |||
| SP Angel Corporate Finance LLP | |||
| Ewan Leggat/Laura Harrison | Tel: +44 20 3470 0470 | ||
View source version on businesswire.com: http://www.businesswire.com/news/home/20160125005692/en/
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