LONDON (Alliance News) - ZincOx Resources PLC said that just over half of the shares available in its 7-for-26 open offer were taken up.
The company, which is focused on recycling Electric Arc Furnace Dust, a hazardous waste generated by the recycling of steel scrap, raised proceeds of GBP2.04 million after only 20.4 million shares from the open offer were taken up, roughly 52% of the open offer shares it had made available.
The company had been looking to raise GBP3.93 million in the open offer.
ZincOx said that the following executives and directors took up on the open offer, which was priced at 10 pence per share:
Name and position | No. of existing Ordinary Shares held as at the date of this announcement
| No. of Open Offer Shares subscribed for | Percentage holding on Admission | No. of Ordinary Shares over which options are granted on Admission
|
Andrew Woollett, Executive Chairman | 5,387,596 | 0 | 3.24% | 4,515,854 |
Simon Hall, Finance Director | 145,600 | 17,500 | 0.10% | 1,731,318 |
Jacques Dewalens, Technical & Production Director | 253,445 | 0 | 0.15% | 1,500,000 |
Gautam Dalal, Non-Executive Director | 560,000 | 150,000 | 0.43% | 0 |
Rod Beddows, Deputy Chairman & Non-Executive Director | 822,500 | 0 | 0.49% | 0 |
Guy Lafferty, Non-Executive Director | 0 | 0 | 0.00% | 0 |
ZincOx Resources shares were down 1.1% at 11.00 pence per share Thursday afternoon.
By Rowena Harris-Doughty; rowenaharrisdoughty@alliancenews.com; @rharrisdoughty
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