SigmaRoc PLC Creation of a dedicated shipping subsidiary (2736B)
April 03 2017 - 2:00AM
UK Regulatory
TIDMSRC
RNS Number : 2736B
SigmaRoc PLC
03 April 2017
3 April 2017
SigmaRoc plc
('SigmaRoc' or the 'Company')
Creation of a dedicated shipping subsidiary
SigmaRoc plc, the AIM listed construction materials business
(AIM: SRC), is pleased to announce it has incorporated a new
subsidiary, SigmaGsy Limited ('SigmaGsy'), dedicated to bulk
shipping activities around the British Isles and northern Europe.
SigmaRoc anticipates its new subsidiary will add in excess of
GBP200,000 per year to its operational EBITDA, starting from the
second quarter of this year.
SigmaGsy will supplement the bulk shipping requirements of
cement majors and other partners in the region with a specialised
offering and support the shipping needs of SigmaRoc's wholly owned
subsidiary Ronez Limited. The new subsidiary will require an
initial investment of GBP550,000 for the acquisition of highly
specific equipment including a dedicated bulk cement carrier.
David Barrett, Executive Chairman of SigmaRoc, commented:
"This is a small but significant step forward for our business.
As a relatively new niche player in a high volume bulk market we
are able to bring to the table shipping solutions which complement
the requirements of our sector. This new subsidiary further
enforces our strategy to operate in niche areas of this industry to
the benefit of our investors."
**ENDS**
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014. Upon the
publication of this announcement via Regulatory Information
Service, this inside information is now considered to be in the
public domain.
For further information, please visit www.sigmaroc.com or
contact:
+44(0)20
SigmaRoc plc 7129 7828
Max Vermorken
Strand Hanson Limited (Nominated +44(0)20
and Financial Adviser) 7409 3494
James Spinney
James Dance
+44(0)20
Zeus Capital Limited (Broker) 3829 5000
Rob Collins
Alex Wood
Tavistock (Public Relations +44(0)20
Adviser) 7920 3150
Jos Simson
Edward Lee
This information is provided by RNS
The company news service from the London Stock Exchange
END
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