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I echo dactions thanks Blurill. It does seem a little odd to me but there must be some sort of business case perhaps in that any compo could fund both businesses? I do have to say that I would have preferred Fox in profit before any diversification but hey - what do I know.? Thanks again.
Thanks Bluerill for update following TruroTrader’s request.
It is still a strange mix of businesses but presumably this is a cheaper way to get a novel business idea off the ground with a London stock market listing. The Linden Holdings ultimate major shareholder is a great positive so I’m assuming Fox/Eco will open higher when it gets re-listed.
Did HotStockRockets have any thoughts about our share price prospects ?
I am travelling truro, but HSR's main point echoed my own: in order for Fox management to have cleared AIM regs - even at this early stage - and get permission to suspend the shares in advance of a proposed RTO with/by Eco Buildings, it is objectively true that by far the most logical conclusion is that the Eco business is sufficiently advanced that it has likely already had significant capital investment and even an forward order book supporting those investments. Anything less would have made even attempting this suspension/RTO an utterly pointless exercise. Regardless, we will all have to wait a few more weeks I would think, for the Pathfinder/Prospectus to be released so we can see officially if HSR and I are right and if so, just what the scale of Eco's asset base is. Exciting times (finally).....
Couldn't access anything bluerill - any other info please?
A full endorsement of our analysis on the potential of the ECO RTO based on what we know so far in today's HotStockRockets. I don't subscribe so couldn't cut and paste, but plenty of time for everyone to find and read it.
Thanks Tommo, Truro
Don't mean to offend anyone, just shooting from the him and giving a gut reaction really!
Interesting comments, and from the quick perusal I gave of the RNSs I hadn't appreciated the fact that only current holders at the time of suspension date would qualify for any litigation settlement. I have about the same number of shares as Tommo, so it would be nice.
Fwiw Tom Winnifrith reckons Fox will get about £40m after lawyers costs in a settlement and the shares should be good for 10p. Anyone currently holding has a share in the probable settlement. Not after takeover.
Would be great to have a 10ish bagger from here if it comes to pass. Personally I have about 90,000 here so would be nice.
Hi john. Perhaps a little harsh in places? CG was no expert when Fox started but without the covid-19 travel bans and rocketing transport costs we could have been in profit by now irrespective of the Malesheva malarkey . He got Fox up and running and also got some experienced management in.
The new NED is no lightweight and in the RNS Andrew Allner the Chairman, commented: "We are pleased to welcome Sir Mark to the Board and look forward to leveraging his wealth of experience. This appointment comes at an important time for the Company and the Board looks forward to updating the market on progress made between now and the end of the year."
Well I guess suspension is important! However there is a plan which might be just a little better than one of Clarkson's! My average is now 1.49 so we could both be in with a decent profit particularly as shareholders are protected. Thank you Chris Gilbert and thanks to dactions and sailorgirl for their information .
Truro, unvrkw
We have chatted before! Think we are all in here for the same reason now, its a punt, rather similar to having an each way on an outsider in the Grand National!
Only just noticed the last couple of RNSs, and my initial reaction is that it is a pretty desperate act. Acquiring an unrelated business, or maybe I am wrong and glass fibre housing is usually kitted out with marble flooring, swathes of tiles, work surfaces and maybe the odd grandiose marble water feature? I somehow doubt it.
CG seems a straight, honest and genuine man who spends his life ******* in the wind because he is utterly out of his depth and living in fantasy land. Try this, no this, how about this, this will be good...... I only invested a grand or so (at 1.3p ish) this time round (I have previous) just in case the litigation comes off. It may, or at least a lesser compromise on the amount claimed reached on the justifiable basis that the company is so inept that they would probably never have been more than barely profitable anyway.
The original business is potentially viable but I am far from convinced that the current team has any chance of ever making it work.
Lastly, in case anyone thinks I am the board cynic, that would be because I am the board cynic!!
Have a good day all
Of course - I'm answering my own questions - just remembered. Here are the details:
Founder of Fox Marble Holdings Plc, Etrur Albani is on the board of AGMH Ltd., Tin Star Ltd. and Zenova Group Plc. He previously occupied the position of Managing Director at Kosovo Telecom JSC and Managing Director & Executive Director at Fox Marble Holdings Plc. Dr. Albani received a doctorate from London South Bank University and an undergraduate degree from the University of North London.
He's using his contacts bringing in the massive Linden Holdings Ltd - so not so straightforward after all. Might be a bumpy ride - there again we might do really well out of this tie-up ?!?
Yes - quite a difference Sailorgirl being Eco Buildings Group (not Eco Building Ltd).
Why would a £50 millions + group want to take a 25% share in Fox by way of a £250 share of the £1000 opening capital of Eco Buildings Group ? And who is Etrur Albani being shown as the individual with significant control of newly created Eco Buildings Group ?
This is looking much more positive for existing FOX shareholders - I hope I'm not being too naive.
Thank you Sailorgirl.
GLA
Eco Buildings Group was formed 30 November 2021 and is clearly the target company with Linden as a 25% shareholder. Look at Companies House.
Welcome to LSE - sailorgirl
Fox institutional investors are:
Andrew Muir 38,734,685 9.28%
Premier Miton Group Plc 27,665,169 6.63%
SPREADEX LTD 26,650,620 6.39%
Dr Etrur Albani 22,472,254 5.38%
Mr Christopher Gilbert 21,384,456 5.12%
Mr Shailesh Patil 19,047,619 4.56%
Artemis Investment Management LLP 13,495,807 3.23%
On the Companies House website ECO Buildings Ltd was dissolved 2011 and there's nothing new to see. A tie-up with Linden Homes would seem to be a positive fit but do you know anything more you can add ?
All very interesting. Has anyone noticed that Linden Holdings Limited - owned by Vistry (previously ka Bovis) has a 25% stake in the target company...........
Hi dactions. One of the reasons I came back in here, as I've said before, is that CG keeps swinging. However I do take your point that at some point he will have had enough - he's certainly done his best. My only concern is that it would have been more reassuring if Fox were in a better revenue position.
One point though is if this GFRG product is viable then any compo should get it off the ground and flying in no time. This will be in addition to Stone Alliance.
lets see. in many respects any change would and should be positive against certainly the most recent past. i cant get the exact synergy however lets see what flushes out. the claim is still overall the big one, if this came and the money is kept seperate then we know chris wanted to give back to shareholders including himself, we shall see!!
dactions - read my posts for that guidance
My earlier post this morning has been lost ? So just to recap and précis my thoughts - I’ve met and spoken with CG on a 1 to 1 basis several times and he’s always seemed straight. He must be looking for an exit himself as it’s been a grind running this business in such a difficult environment both economically and politically. I’ve invested as much as 25p one time and of course all the way down to but I’m still underwater. Chris will be too.
It’s that exit that I perceive- assuming I’m correct - is the positive aspect for us shareholders. So I’m quietly confident we’ll see some good come of this.
And what is this nonsense about 'ramping'?? The bloody shares are suspended. We're going to get a bunch more information on funding, how the merged business may work, etc, way before we re-list I'm sure. This strikes me as a decent, potential 'get out of jail free' card at this point for a holding that I had written off. At the very least I don't see the downside when the sp is already at 1p.
wow, stacy, so you're M.O. is to spout nasty, ignorant babble first and ask questions later, I guess. Fox prior to this deal was a micro-cap struggling to overcome Covid and myriad other issues as their contract wins over the past few years have clearly too sluggish to create value. However, this deal will allow the legacy shareholders of Fox to benefit immediately from ending up as shareholders in a much larger group where we get a larger portion of that group's merged market cap than our undisturbed valuation would have implied (ie., we get paid just for providing the listed vehicle to start with) and THEN the combined group shareholders, of which we will all be a part, will ALSO benefit from ANY increase in sales from the new relationship with Eco. It's patently moronic to try to minimise any such new, predictable business for FOX when our existing sales are already modest. Otherwise, FOX can and will continue with any other strategic efforts they were intending to pursue outside of Eco. It's a classic win-win and you're a standard muppet who rants before thinking......
Well! A bit of a turn-up for the books! Not to sure how the new NED fits into this as his background doesn't include either GFRG or quarrying! All I can hope for is that CG has got this right. I have to say though that Fox itself is financially not as sound as it could be, If only we had a couple of block contracts to help revenue along.
I have to say though that social modular housing and Marble are not natural bedfellows so I'm scratching my head a little. I also remember that CG had to learn quarrying on the job as it were - I hope this isn't repeated. As always - Time will tell.
Wow, bluegill
There is pumping and then there is your post, complete blind loyalty to the fox regime.
How much marble do you think is in an average house or a new house on average?
Maybe 0.05% at best? And that is being generous.
Fox are a shambles
They have for reasons that will no doubt be leaked with time decided to go into the modular building sector, a sector that has nothing to do with mining and processing marble!
This makes no sense, it can’t be good for shareholders and I would love to have the time to investigate any potential link between the 2 companies.
But this is no doubt quote of the year -
“Finally, if you don't see marble as a housing building material, and the potential synergies for Fox as part of a housing building group, then I'm not sure I can help you on that.“
bluerill 11/04/22
:)
No, unv, you didn't read the RNS carefully. No one is acquiring anything with a '£400k loan'. That money is strictly for working capital to move the RTO forward. The key phrase of course is, '....Fox Marble intends to undertake a significant capital expansion, including capital reorganisation....'. In other words, the combined company will be out looking to raise a material amount of fresh capital interested in investing in the new Group. As for suspensions such as this, you're quite wrong: there is clearly no financial problems at Fox prompting this, so such suspensions almost always end with the shares re-quoting as normal, with just the suspension time wasted. Finally, if you don't see marble as a housing building material, and the potential synergies for Fox as part of a housing building group, then I'm not sure I can help you on that.
I don’t get it. I can’t read any synergy with marble, is this just buying a house building company or does it use materials from fox? When suspended I’ve often seen they don’t return? Let’s hope not and I read all Kosovo compensation amounts go to original holders. Buying a housing business with 400k loan? Not sure here
Great news!
Massive and high growth market!
The focus is going to be on eco friendly companies as the energy cost move higher. Perfect timing! Very happy to be a shareholder here!