StockMarketWire.com - SigmaRoc has conditionally agreed to acquire Ronez Ltd, a subsidiary of Aggregate Industries, part of the LafargeHolcim Group, for £45m in cash.

In conjunction with the Acquisition, the company also announces it has conditionally raised approximately £50m gross via the issue of 100m new shares and 10m convertible loan notes.

Highlights of the proposed Acquisition and Placing:

- Consideration payable by the Company in respect of the Acquisition of £45.0 million in cash.

- Placing of 100,000,000 New Ordinary Shares at 40 pence per share and 10,000,000 Convertible Loan Notes at £1 per note to raise approximately £50 million before expenses.

- Net proceeds of the Placing will be used to satisfy the Consideration and for working capital purposes.

- Ronez is a fully integrated producer of construction materials and operates two hard rock quarries and multiple business lines with associated production units across Jersey and Guernsey, with approximately 3.36Mt of Proved Mineral Reserves and a further 6.22Mt of Measured and Indicated Mineral Resources.

- In 2015, Ronez recorded revenue of £26.3 million and operating profit before tax of £2.94 million.

- Ronez is a cash-generating and profitable business, with an established track record, providing the Company with a platform to accelerate its growth and fund the continued execution of its wider business plan, being the pursuit of acquisitions of high quality and niche market assets in the construction materials sector.

- Share Consolidation with a ratio of 104:1 such that, subject to the passing of the Resolutions, for each 104 Existing Ordinary Shares held, Shareholders will be issued one New Ordinary Share worth 40 pence each (based on the price immediately prior to the Company's suspension announcement of 5 October 2016) on Admission.






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