ZincOx Resources PLC Result of Open Offer (0433W)
August 14 2015 - 1:00AM
UK Regulatory
TIDMZOX
RNS Number : 0433W
ZincOx Resources PLC
14 August 2015
14 August 2015
Not for release, publication or distribution, directly or
indirectly, in whole or in part, in or into the United States of
America, Canada, Australia, The Republic of South Africa, Japan,
New Zealand or Russia.
ZincOx Resources plc
("ZincOx" or the "Company")
Result of Open Offer
On 23 July 2015, the Board of ZincOx Resources plc (AIM: ZOX),
the developer and operator of one of the largest Electric Arc
Furnace Dust recycling facilities in the world, announced details
of a Placing of 16.1 million new Ordinary Shares at 13p with gross
proceeds of approximately GBP2.1 million and a proposed Open Offer
to existing shareholders of new Ordinary Shares at a price of 13p
to raise up to approximately GBP1.1 million.
The Open Offer closed for acceptances at 11.00 a.m. on 13 August
2015. The Company received valid acceptances in respect of
2,854,709 Open Offer Shares and 4,636,369 shares under the Excess
Application Facility. The total number of new shares under the Open
Offer amounted to 7,491,078 new Ordinary Shares which is
approximately 86 per cent. of the new Shares available so that the
Company has raised gross proceeds of approximately GBP1.0 million
through the Open Offer.
The gross proceeds of the Placing and Open Offer comes to
approximately GBP3.1 million.
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 18 August 2015 following the General Meeting. The
Open Offer is being made utilising the existing authorities taken
by the Company at its Annual General Meeting held on 22 May
2015.
The new Ordinary 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, for shares taken up by Directors in both the
Placing and Open Offer:
After Admission After Admission
of Placing Shares of Open Offer Shares
Ordinary
Shares No. of
before Placing Total % No of Open Total %
Director placing Shares holding Offer Shares holding Options
Rod Beddows,
Chairman
& Non-Executive
Director 822,500 - 0.45 - 0.43 -
Andrew Woollett,
Chief Executive
Officer 5,294,223 992,556 3.45 - 3.31 4,831,773
Simon Hall,
Finance Director 163,100 0.09 - 0.09 2,044,818
Gautam Dalal,
Non Executive
Director 710,000 468,920 0.65 411,000* 0.84 -
*Gautam Dalal received 354,861 shares under the Excess
Application Facility, but only after all other applications under
the Facility had been satisfied.
The new Ordinary Shares (in uncertificated form) are expected to
be credited to CREST accounts on 18 August 2015 and definitive
share certificates for the new Ordinary Shares (in certificated
form) are expected to be despatched to certificated shareholders by
25 August 2015.
The Company's issued voting ordinary share capital currently
comprises 182,422,341 Ordinary Shares of 1 pence each. Following
Admission of the new Ordinary Shares and in accordance with
Disclosure and Transparency Rules, the Company's issued voting
ordinary share capital will comprise of 189,913,419 Ordinary Shares
of 1 pence each.
The figure of 189,913,419 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 defined terms in this announcement shall have the meanings
ascribed to them in the Placing Announcement and/or "Circular"
published by the Company on 23 July 2015.
For further information, please visit www.zincox.com or
contact:
Tel: +44 (0) 127 645
ZincOx Resources plc 0100
Andrew Woollett, Chief Executive Officer
Peel Hunt LLP (Nominated Adviser and Tel: +44 (0) 207 418
Joint Broker) 8900
Daniel Harris
Euan Brown
finnCap Limited (Joint Broker) Tel: +44 (0) 207 220
Christopher Raggett 0500
Joanna Weaving
Tavistock Communications (Financial Tel: +44 (0) 207 920
PR) 3150
Simon Hudson
Nuala Gallagher
This information is provided by RNS
The company news service from the London Stock Exchange
END
ROIPJMRTMBJBBAA
Zincox (LSE:ZOX)
Historical Stock Chart
From Jun 2024 to Jul 2024
Zincox (LSE:ZOX)
Historical Stock Chart
From Jul 2023 to Jul 2024