Business
Final Results
Final Results.
About this update from Eco Buildings Group Plc
[{"type":"text","content":"\n\n \n\n\n\n\n\n\n\n28/06/2024\n\n\n\n\n \nEco Buildings Group Plc\n (\"Eco Buildings\" or the \"Company\")\nFinal Results for the year ended 31 December 2023\nEco Buildings Group Plc, the AIM listed company is pleased to announce its final results for the year ended 31 December 2023.\nHighlights for the year ended 2023\n· Acquisition of Eco Buildings Group Ltd completed on the 2 June 2023 following the general meeting held on the 26 May 2023. The acquisition was classified as a Reverse Takeover under the AIM rules and as such required approval from shareholders at a General Meeting.\n· Share reorganisation completed on the 2 June 2023, with the shares of Fox Marble Holdings Plc. readmitted to AIM under a new ticker symbol ECOB. Fox Marble Holdings plc name was changed to Eco Buildings Group Plc.\n· Placing completed raising £2.7 million before expenses via the issue of shares in Eco Buildings Group Plc at 55p per share.\n· 8,232,857 preference shares issued to holders of record in Fox Marble Holdings Plc on the 1 June 2023, which will allow them to participate in the net proceeds arising from a successful conclusion to the current arbitration case being pursued against the republic of Kosovo.\n· The transaction to acquire Eco Buildings Group Ltd has been accounted for using the acquisition method of accounting in accordance with IFRS 3, which requires the identification of the acquirer and the acquiree for accounting purposes.. As a result, the financial statements of Eco Buildings Group Plc in subsequent filings will represent the historical financial statements of Eco Buildings Group Ltd.\n· Machinery for the production of GFRG panels dismantled from its previous site in the UAE, shipped and re assembled in Albania in a purpose build site in Durres providing access to European market. The machinery was reconditioned, updated to increase both production speed and accuracy. The first walls were produced by the factory in December 2023.\n· Contracts signed with Andra Invest LLC and Egeu stone for a total of €38 million per annum over the next three years, forming the cornerston...