ZincOx Resources PLC Share Dealing Arrangements (6117I)
01 September 2016 - 8:00AM
UK Regulatory
TIDMZOX
RNS Number : 6117I
ZincOx Resources PLC
01 September 2016
1 September 2016
ZincOx Resources plc
("ZincOx" or the "Company")
ZincOx's Share Dealing Arrangements
As previously announced, following the reduction of the
Company's interest in its principal asset, the Korean Recycling
Plant, under the AIM Rules, the status of the Company is currently
that of an AIM Rule 15 cash shell. In the absence of a reverse
takeover, the rules provide for the continued quotation of the
Company's shares until the 28th October 2016, when the shares will
be suspended from trading and six months thereafter the Company
would no longer be admitted to trading on AIM.
ZincOx's management continues to look for a project around which
the Company could be re-built so that its shares could be publicly
traded and a number of opportunities are being examined. Obtaining
a suitable project remains the Company's absolute priority but, in
addition, the Company is seeking to realise the maximum value of
its existing assets. The Board believes that the strategic
objectives of the Company are currently best served by its shares
being unquoted. In view of the above and following discussions with
its advisors, the Board has decided not to proceed with use of the
ISDX market as a further platform for the trading of the Company's
shares, as referred to in previous announcements.
In addition to the Company's considerable technical know-how and
intellectual property, the Company maintains an 8.7% interest in
the Korean Recycling Plant and owns a valuable plot of industrial
land in Turkey. However, it should be noted that the Company has
corporate loan notes amounting to GBP3.78 million which have
interest accruing from 1st August 2016 at the rate of 10% per annum
and which is due for repayment in January 2018.
This announcement contains inside information for the purposes
of Article 7 of regulation 596/2014.
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
MSCBLGDIGGXBGLB
(END) Dow Jones Newswires
September 01, 2016 02:00 ET (06:00 GMT)
Zincox (LSE:ZOX)
Historical Stock Chart
Von Mai 2024 bis Jun 2024
Zincox (LSE:ZOX)
Historical Stock Chart
Von Jun 2023 bis Jun 2024
Echtzeit-Nachrichten über Zincox Res. (Londoner Börse): 0 Nachrichtenartikel
Weitere Zincox Res. News-Artikel