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SigmaRoc completes Ronez acquisition from LafargeHolcim

"The completion of our first transaction is a major milestone for SigmaRoc,” said chief executive Max Vermorken.

London Stock Exchange logo on wall outside of the building
SigmaRoc shares resumed trading after its reverse takeover of Ronez

Building products firm SigmaRoc plc (LON:SRC) has today started trading in London following its reverse takeover in which the cash-shell picked up Ronez, formerly a LafargeHolcim unit.

Ronez is a revenue generating producer of construction materials and it operates two hard rock quarries in the Channel Islands (one in Jersey and one in Guernsey) estimated to host around 9.5mln tonnes of product.

Last year the company made a £2.94mln profit from £26.3mln of revenue.

SigmaRoc raised £50mln of new equity as part of the reverse takeover process. This cash was for the acquisition as well as the group’s working capital.

"The completion of our first transaction is a major milestone for SigmaRoc,” said chief executive Max Vermorken.

We now have a great cornerstone asset that will provide us with the platform from which to grow our business further, whilst generating cash flow."

"We look forward to integrating Ronez's experienced management team with SigmaRoc's Board and we believe that the new independent ownership structure can only further improve on Ronez's impressive operational and financial performance."

SigmaRoc shares were changing hands at 42.35p each In London on Thursday.

Quick facts: SigmaRoc

Price: 44.8 GBX

AIM:SRC
Market: AIM
Market Cap: £113.68 m
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