REG - SigmaRoc PLC - Exercise of Call Option on CRH Polish Lime Assets

SigmarocAnnouncement

04/06/2024 07:00

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RNS Number : 9464Q  SigmaRoc PLC  04 June 2024

4 June 2024

 

(EPIC: SRC / Market: AIM / Sector: Construction Materials)

 

SIGMAROC PLC

 ('SigmaRoc', the 'Group' or the 'Company')

 

Exercise of the call option to acquire CRH's Polish Lime operations

 

SigmaRoc, the Northern European quoted lime and limestone group, is pleased to
announce that the Group has exercised the call option, entered into on 22
November 2023 (the 'Polish Call Option'), and entered into a share purchase
agreement to acquire the Polish lime operations of CRH plc (the 'Polish
Target' or the 'Deal 3 Target') for a deferred consideration of €100 million
(approximately £85 million). The purchase of the Deal 3 Target is
conditional, inter alia, on the Polish Purchaser receiving Polish Competition
Office Clearance ('PCOC'), for which the Polish Purchaser will make the
necessary filings with the Polish Competition Office. Completion of the Deal 3
Acquisition is expected by the end of September 2024, subject to the PCOC.

 

As announced on 23 November 2023, alongside the conditional acquisition of
CRH's lime businesses in Germany, Czech Republic and Ireland ('Deal 1
Targets'), the Company entered into the call options which granted it the
right to acquire the UK Target ('Deal 2 Target'), as well as CRH's lime
operations in Poland (the Polish Target) at a future date. Following
completion of the acquisition of the Deal 1 Targets on 4 January 2024 and the
completion of the acquisition of the Deal 2 Target on 27 March 2024, the
Company has now exercised the Polish Call Option and entered into the Polish
SPA.

 

The Polish Target, CRH's Ovetill Investments SP. Z o.o, includes CRH's lime
and limestone flour production, associated distribution network and assets in
Poland. Founded in 1910, the Polish Target has two lime production sites in
Kujawy and Sitkowka.

 

The Company is pleased with the progress to date on the integration of the
Deal 1 and Deal 2 Targets, being the German, Czech, Irish and UK entities, and
will provide a further update alongside its interim results for the period
ended 30 June 2024.

 

Defined terms used throughout this announcement have the meanings set out in
the admission document published by the Company on 23 November 2023 unless the
context requires otherwise.

 

Information on the Company is available on its website, www.sigmaroc.com
(http://www.sigmaroc.com) .

 

 

For further information, please contact:

 

 SigmaRoc plc                                Tel: +44 (0) 207 002 1080

 Max Vermorken (Chief Executive Officer)

 Garth Palmer (Chief Financial Officer)      ir@sigmaroc.com (mailto:ir@sigmaroc.com)

 Tom Jenkins (Head of Investor Relations)

 Liberum Capital (Nomad and Co-Broker)       Tel: +44 (0) 203 100 2000

 Scott Mathieson / John More / Dru Danford

 Deutsche Numis (Co-Broker)                  Tel: +44 (0) 20 7260 1000

 Richard Thomas / Hannah Boros

 Walbrook PR Ltd (Public Relations)          Tel: +44 20 7933 8780  sigmaroc@walbrookpr.com

 Tom Cooper / Nick Rome                      Mob: +44 7971 221972

 

About SigmaRoc plc:

SigmaRoc is a quoted lime and limestone group targeting quarried materials
assets in the UK and Northern Europe.

Lime and limestone are key resources in the transition to a more sustainable
economy. New applications for lime and limestone products as part of a drive
for sustainability include the production and recycling of lithium batteries,
the decarbonisation of construction including through substitution of
cementitious material and new building materials, and environmental
applications including lake liming, air pollution and direct air capture.

SigmaRoc seeks to create value by purchasing assets in fragmented materials
markets and extracting efficiencies through active management and by forming
the assets into larger groups. It seeks to de- risk its investments through
the selection of projects with strong asset backing.

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