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Last Trade - 28/10/16

Sector
Basic Materials
Size
Micro Cap
Market Cap £n/a
Enterprise Value £n/a
Revenue £479k
Position in Universe th / 1830

ZincOx Resources PLC - Grant of Options

Thu 30th June, 2016 7:01am
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

Share Option Plan

Company Share Option Plan

Total held

following grant

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:

ZincOx Resources plc

Tel: +44 (0) 127 645 0100

Andrew Woollett, Chief Executive Officer


Peel Hunt LLP (Nominated Adviser and Joint Broker)

Tel: +44 (0) 207 418 8900

Richard Kauffer

Euan Brown



This information is provided by RNS
The company news service from the London Stock Exchange
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