Sigmaroc. Share News (SRC)

(Sharecast News) - Buy-and-build construction materials provider SigmaRoc updated the market on a number of developments on Thursday, announcing that it received positive indications of interest from all of its incumbent banks to put in place a group-wide senior credit facility.
The AIM-traded firm said that would replace several local facilities it absorbed in conjunction with recent acquisitions.

It said it was confident that a new group-wide credit facility offered the best commercial outcome for the group, including both its current activities and its planned future developments.

SigmaRoc anticipated the new senior credit facility would be in place by 30 April, adding that it had received the required change-of-control waivers and extensions to make that possible.

The company also announced the proposed creation of an advisory board dedicated to the Benelux region.

It said the board would be chaired by chief executive officer Max Vermorken, who would be joined by entrepreneur and private equity investor in the aggregates sector Count Christophe de Limburg Stirum, as well as Pascal Lesoinne, who was previously chief executive of cement and aggregates for HeidelbergCement Benelux.

Emmanuel Maes, previously CEO of aggregates and dredging group De Cloedt and currently managing director of Europe for SigmaRoc, and Christophe Daulemerie, managing director of Carrières du Hainaut, would also join the advisory board, with the goal being to maximise SigmaRoc's potential in the region.

"I would like to thank the incumbent banks for their continued support of our group and look forward to working with them more closely in the coming year as we explore further opportunities in the Benelux region, which will be supported by an extremely high calibre advisory board," said chief executive officer Max Vermorken.

At 1048 GMT, shares in SigmaRoc were up 5.5% at 51.8p.