ZincOx Resources PLC Result of General Meeting and Open Offer (4457F)
April 24 2014 - 7:48AM
UK Regulatory
TIDMZOX
RNS Number : 4457F
ZincOx Resources PLC
24 April 2014
ZincOx Resources plc
("ZincOx" or the "Company")
Result of General Meeting and Open Offer
On 7 April 2014, the Board of ZincOx Resources plc (AIM: ZOX),
the developer of one of the largest Electric Arc Furnace Dust
recycling facilities in the world, announced details of a proposed
Open Offer of the new Ordinary Shares to raise up to approximately
GBP3.93 million in total.
At the General Meeting held earlier today, all Resolutions
proposed in connection with, inter alia, the Open Offer were passed
by Shareholders.
The Open Offer closed for acceptances at 11.00 a.m. on 23 April
2014. The Company received valid acceptances from Qualifying
Shareholders in respect of 20,378,477 Open Offer Shares, including
applications for 6,044,448 Open Offer Shares under the Excess
Application Facility. This represents approximately 52 per cent. of
the maximum number of Open Offer Shares available under the Open
Offer. The Company has therefore raised gross proceeds of
approximately GBP2.04 million through the Open Offer.
Application has been made to AIM for the admission of the Open
Offer Shares. It is expected that Admission will become effective
at 8.00 a.m. on 25 April 2014. The Open Offer Shares, when issued
and fully paid, will rank pari passu in all respects with the
existing Ordinary Shares of 1p each.
The following table sets out the Directors' shareholdings and
percentage interests in the issued share capital of the Company
following Admission, including shares taken up by Directors in the
Open Offer:
Name and position No. of existing No. of Percentage No. of
Ordinary Open Offer holding Ordinary
Shares held Shares on Admission Shares
as at the subscribed over which
date of for options
this announcement are granted
on Admission
Andrew Woollett,
Executive Chairman 5,387,596 0 3.24% 4,515,854
Simon Hall,
Finance Director 145,600 17,500 0.10% 1,731,318
Jacques Dewalens,
Technical & Production
Director 253,445 0 0.15% 1,500,000
Gautam Dalal,
Non-Executive
Director 560,000 150,000 0.43% 0
Rod Beddows,
Deputy Chairman
& Non-Executive
Director 822,500 0 0.49% 0
Guy Lafferty,
Non-Executive
Director 0 0 0.00% 0
The new Ordinary Shares (in uncertificated form) are expected to
be credited to CREST accounts on 25 April 2014 and definitive share
certificates for the new Ordinary Shares (in certificated form) are
expected to be despatched to certificated shareholders by 2 May
2014.
Following Admission of the new Ordinary Shares and in accordance
with Disclosure and Transparency Rules, the Company's issued voting
ordinary share capital will be comprised of 166,305,778 Ordinary
Shares of 1 pence each.
The above figure may be used by shareholders as a 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, ZincOx under the FCA's Disclosure and Transparency Rules.
All capitalised terms used in this announcement shall have the
meanings ascribed to them in the circular published by the Company
on 7 April 2014.
For further information, please visit www.zincox.com or
contact:
ZincOx Resources plc Tel: +44 (0) 1276
Andrew Woollett, Executive 45 0100
Chairman
Peel Hunt LLP (Nominated Adviser Tel: +44 (0) 207
and Broker) 418 8900
Richard Kauffer / Daniel Harris
Tavistock Communications (Financial Tel: +44 (0) 207
PR) 920 3150
Simon Hudson / Nuala Gallagher
This information is provided by RNS
The company news service from the London Stock Exchange
END
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