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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