ZincOx Resources PLC Cancellation of admission to AIM (4443D)
April 27 2017 - 2:00AM
UK Regulatory
TIDMZOX
RNS Number : 4443D
ZincOx Resources PLC
27 April 2017
27 April 2017
ZincOx Resources plc
("ZincOx", the "Company" or the "Group")
Cancellation of admission to AIM
ZincOx Resources plc ("ZincOx" or "the Company") announces that
under the AIM Rules, the cancellation of the admission to trading
on AIM of the ordinary shares of 1p each in the capital of the
Company ("Ordinary Shares") is expected to occur at 7.00am on 2 May
2017 ("Cancellation").
Following this Cancellation, the Company is appointing Asset
Match to facilitate trading in the Ordinary Shares. Asset Match, a
firm authorised and regulated by the Financial Conduct Authority,
will operate an electronic off-market dealing facility for the
Ordinary Shares. This facility will allow shareholders of the
Company ("Shareholders") to trade their Ordinary Shares by matching
buyers and sellers through quarterly auctions. Shareholders will
continue to be able to hold their shares in uncertificated form
(i.e. in CREST) and should check with their existing stockbroker
that they are able to trade in unquoted shares.
The Asset Match trading facility operates under its own code of
practice which governs the behaviour of participants and the
running of the auctions. Asset Match operates an open auction
system where volumes of bids and offers at different prices are
displayed on its website. At the end of each auction period Asset
Match pass this information through a non-discretionary algorithm
that determines a "fair" share price based on supply and demand and
allocates transactions accordingly. Bids and offers may be made and
withdrawn at any time before the end of the quarterly period.
Shareholders wanting to trade shares through Asset Match must do so
through a stockbroker. The preferred broker is the Share Centre
www.share.com. Full details of Asset Match can be found at
www.assetmatch.com.
Shareholders should note that, following the Cancellation
becoming effective, even with such a trading service in place,
there will be no public market or trading facility on any
recognised investment exchange for the Ordinary Shares and,
accordingly, the opportunity for Shareholders to realise their
investment in the Company will be much more limited and there will
be no public valuation of Ordinary Shares held.
Further, whilst Shareholders will still have access to certain
information following Cancellation (such as the Company's annual
results), Shareholders will no longer be afforded the protections
given under the AIM Rules and it will be subject to fewer
operational restrictions and less stringent accounting and
reporting requirements.
For further information, please go to: www.zincox.com or
contact:
ZincOx Resources plc Tel: +44 (0) 127
645 0100
Andrew Woollett
Peel Hunt LLP (Nominated Adviser Tel: +44 (0) 207
and Broker) 418 8900
Richard Kauffer
Euan Brown
Asset Match Limited
Ben Weaver Tel: +44 (0) 207
Matthew Wilson 248 2788
This information is provided by RNS
The company news service from the London Stock Exchange
END
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