SigmaRoc, which was established to pursue a buy-and-build strategy in construction materials markets, is pleased to announce its results for the year ended 31 December 2016. These results pre-date the acquisition of Ronez Limited (‘Ronez’), SigmaRoc’s first acquisition completed in January 2017. In addition, the Company announces that its Annual General Meeting (‘AGM’) will be held at the Washington Mayfair Hotel, 5 Curzon Street, London, W1J 5HE on 17 May 2017 at 4 p.m. Copies of the Company’s Annual Report and Financial Statements, together with the Notice of AGM, will be posted to shareholders today.
- Change of company name to SigmaRoc plc and approval of new investment strategy
- SigmaRoc raises £50m in December 2016 to fund Ronez acquisition
- Acquistion of Ronez for £45m, with the transaction completing on 5 January 2017
- Ronez 2016 revenue of £24.4m, EBITDA of £4.9m and profit before tax of £3.1m
- Creation of SigmaGsy Limited in April 2017, a subsidiary dedicated to bulk shipping around the British Isles and northern Europe
- Q1 performance to 31 March 2017, which includes Ronez Ltd, has been strong with EBITDA 12% higher for Q1 compared to Q1 in the prior year
David Barrett, Chairman of SigmaRoc, said: ” We are delighted to have successfully acquired Ronez, and have been further encouraged by progress in the first quarter of this year. SigmaRoc is in a strong position, underpinned by a solid cash generative AIM listed platform from which to further deliver on our buy-and-build strategy.”
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.