ZOX Zincox Res.

TIDMZOX

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     Company Share      Total held 
                      Share Option    Option Plan     following grant 
                          Plan 
------------------  --------------  --------------  ----------------- 
 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:

 
 
                                        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

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