13th Jun 2008 18:31
ZincOx Resources plc
13 June 2008
ZincOx Resources plc ("the Company")
Director and Significant Shareholder Agree to Purchase Shares
Conditional Placing of New Shares
The Company announces that on 13 June 2008:
Peter Beck, a non-executive director of the Company, has agreed, as part of the conditional placing of shares ("the Placing") announced today, to purchase 25,000 new ordinary shares of 25p each in the capital of the Company ("shares") at the placing price of 175p for a total consideration of £43,750. Peter Beck will own 133,332 ordinary shares following completion of the Placing, representing 0.17% of the issued share capital of the Company.
Hoegh Capital, a significant shareholder in the Company, has agreed to purchase 4,072,076 shares at the placing price of 175p for a total consideration of £7,126,133. Following completion of the Placing, Hoegh Capital will own 9,846,732 shares representing 12.7% of the issued share capital of the Company.
The Placing is conditional, inter alia, on approval by the Company's shareholders of the resolutions which will be set out in a notice convening an extraordinary general meeting of ZincOx to be held on 11 July 2008 and admission of the shares to be issued in the Company to trading on the AIM market of the London Stock Exchange plc.
For more information please contact:
Andrew Woollett/Peter Wynter Bee, ZincOx Resources plc
Tel: +44 (0) 1276 450100
John Harrison/James Black, Numis Securities
Tel: +44 (0) 20 7260 1000
Charlie Geller/Leesa Peters, Conduit PR
Tel (Direct): +44 (0) 20 7429 6604
Related Shares:
Zincox Resources Plc