17 January
2025
Eco Buildings Group
PLC
("Eco Buildings" or the
"Company")
Issue of shares
Eco
Buildings Group plc (AIM: ECOB), the
UK-listed modular housing company, announced that it has issued in
aggregate 3,000,000 new ordinary shares at a nominal value (1p) in
settlement of existing liabilities.
Admission & Total Voting Rights
The New Ordinary Shares will rank
pari passu with the
existing ordinary shares in all respects. Admission to AIM of the
New Ordinary Shares will occur on or around 23 January
2025.
Following the admission of the
3,000,000 new ordinary shares, the total issued share capital of
the Company will be 84,467,767 ordinary shares, each with voting
rights. The Company does not hold any ordinary shares in treasury.
The above figure may be used by shareholders as the denominator for
the calculations by which they will determine if they are required
to notify their interest in, or a change to their interest in, the
Company, under the Disclosure and Transparency Rules.
The information communicated in this
announcement is inside information for the purposes of Article 7 of
Regulation 596/2014.
About Eco Buildings Group plc
Eco Buildings is a leading innovator
in prefabricated, green housing products, leveraging proven
technology based on GFRG panels. Our modular housing solutions
cater to both affordable and high-end housing markets, combining
cost efficiency, speed of construction, and sustainability. With a
growing portfolio of international projects, Eco Buildings is
dedicated to redefining construction for the
future.
Further information is available on
Eco Buildings website: www.eco-buildings.net
For more information
contact:
|
Eco
Buildings Group plc
Sanjay Bowry, Chief Executive
Officer
Fiona Hadfield, Finance
Director
|
Tel: +44 (0) 207 380 0999
|
|
Spark Advisory Partners Limited (Nominated
Adviser)
Matt Davis / James
Keeshan
|
Tel: +44 (0) 203 368 3550
|
|
Tavira Securities Limited (Broker)
Oliver Stansfield / Jonathan
Evans
|
Tel: +44 (0) 203 192
1739
|
Notes
The Company has acquired proven and
innovative prefabricated technology which has been in development
and commercial use since 2006. Eco Buildings' range of
prefabricated, green housing products based on glass fibre
reinforced gypsum panels ("GFRG") provides a construction solution
for both affordable and high-end housing.
Eco Buildings has already secured
two sales contracts with major construction companies, one in
Albania, the other in Kosovo, which are expected to generate gross
sales revenue of approximately up to €38 million in total per annum
over the first three years (approximately €114 million in total)
following Admission.
The market share for factory-based
building technology is expected to grow significantly over the
coming years as private developers and the public sector seek to
address the substantial and growing deficit in housing stock and
issues of construction cost, speed and quality and housing
affordability.
