SigmaRoc said that on Nov. 18 in an application to the Channel Islands Competition & Regulatory Authorities (CICRA) it set out the reasons for the requisite approvals in respect of the proposed acquisition of Ronez Ltd.
The acquisition of Ronez Ltd would be from Aggregate Industries Ltd, a wholly owned subsidiary of LafargeHolcim Ltd.
Ronez is a fully integrated producer of construction materials and operates two quarries and multiple business lines with associated production units across Jersey and Guernsey, providing a full range of construction materials to the local area, including aggregates, concrete, concrete products, asphalt and cement, together with contracting services.
Due to its size and nature, the Proposed Acquisition will constitute a reverse takeover of the Company pursuant to the AIM Rules for Companies.
The Proposed Acquisition will be conditional on, inter alia, financing, CICRA approvals and the approval of SigmaRoc shareholders at a general meeting of the Company. The Company's ordinary shares will remain suspended from trading on AIM until such time as an admission document is published.