SigmaRoc plc (AIM:SRC) submitted a binding proposal to acquire Ronez Limited from Aggregate Industries Limited on October 5, 2016. SigmaRoc was chosen as the preferred bidder. SigmaRoc plc (AIM:SRC) agreed to acquire Ronez Limited from Aggregate Industries Limited for £45 million in cash on November 18, 2016. The consideration is subject to adjustment for leakage and on a on cash-free, debt-free basis. The transaction will be funded through a private placement in an amount of £50 million, with remaining proceeds to be used for working capital expenses. For the year ended December 31, 2015, Ronez reported revenue of £26.302 million, operating profit before tax of £2.94 million and profit after tax of £2.574 million. The transaction needs to be approved by the Competition & Regulatory Authorities of Channel Islands and shareholders of SigmaRoc plc (AIM:SRC). The deal is also conditional on financing, successful conclusion of the private placement and admission. As on December 7, 2016, Channel Islands Competition & Regulatory Authorities approved the transaction. As of January 3, 2017, the general meeting approves the conversion of existing ordinary shares into new ordinary shares of 40 pence each. The trading of existing shares will be cancelled at the end of trading hours on January 3, 2017 and trading of new shares will start on January 5, 2017. The deal is expected to complete on January 5, 2017. The deal is expected to be value accretive for SigmaRoc. James Spinney and James Dance of Strand Hanson Limited acted as financial advisors for SigmaRoc. Rob Collins and Alex Wood of Zeus Capital Limited acted as financial advisors for SigmaRoc. Emma Anderson of Orchard PR acted as public relations advisor for SigmaRoc. Jos Simson, Emily Fenton and Barney Hayward of Tavistock acted as public relations advisors for SigmaRoc. Wayne Atkinson, David Moore, Paul Wilson, Chantelle Foster, Martin Le Boutillier and Jason Green of Collas Crill acted as a legal advisor of SigmaRoc plc. SigmaRoc plc (AIM:SRC) completed the acquisition of Ronez Limited from Aggregate Industries Limited on January 5, 2017.