ZincOx Resources PLC Grant of Options (6882C)
June 30 2016 - 2:01AM
UK Regulatory
TIDMZOX
RNS Number : 6882C
ZincOx Resources PLC
30 June 2016
30 June 2016
ZincOx Resources plc
("ZincOx" or the "Company")
Options Granted
ZincOx announces the issue of new management options. Following
substantial remuneration cuts taken by the management and the Board
and in order to incentivise those rebuilding ZincOx, the
Remuneration Committee has recommended that all previous options be
cancelled and new options granted. On 29 June 2016 the Directors of
the Company and certain other employees and consultants were
granted options to subscribe for ordinary shares of 1 penny each in
the Company ("Ordinary Shares") at a subscription price of 1.6
pence per Ordinary Share, this being at a 100% premium to the
current share price and at a 60% premium to the price paid in the
recent placing.
The number of Ordinary Shares under option granted to each
director was as follows:
Name of Director Executive Company Share Total held
Share Option Option Plan following grant
Plan
------------------ -------------- -------------- -----------------
Andrew Woollett 4,855,000 1,875,000 6,730,000
------------------ -------------- -------------- -----------------
Rod Beddows 525,000 1,875,000 2,400,000
------------------ -------------- -------------- -----------------
Gautam Dalal 525,000 1,875,000 2,400,000
------------------ -------------- -------------- -----------------
All options granted are subject to a three year vesting period
before they can be exercised.
A total of 24,030,000 options have been granted to Directors,
employees and consultants, representing 10% of the issued share
capital and these replace all previous options.
The Board considers that the award of these options is in line
with the Company's policy of providing incentives to its senior
management and those who will be instrumental in rebuilding the
company.
For more information please contact:
Tel: +44 (0) 127
ZincOx Resources plc 645 0100
Andrew Woollett, Chief Executive
Officer
Peel Hunt LLP (Nominated Adviser Tel: +44 (0) 207
and Joint Broker) 418 8900
Richard Kauffer
Euan Brown
This information is provided by RNS
The company news service from the London Stock Exchange
END
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