ZincOx Resources PLC Cancellation of admission to AIM (4443D)

TIDMZOX

RNS Number : 4443D

ZincOx Resources PLC

27 April 2017

27 April 2017

ZincOx Resources plc

("ZincOx", the "Company" or the "Group")

Cancellation of admission to AIM

ZincOx Resources plc ("ZincOx" or "the Company") announces that under the AIM Rules, the cancellation of the admission to trading on AIM of the ordinary shares of 1p each in the capital of the Company ("Ordinary Shares") is expected to occur at 7.00am on 2 May 2017 ("Cancellation").

Following this Cancellation, the Company is appointing Asset Match to facilitate trading in the Ordinary Shares. Asset Match, a firm authorised and regulated by the Financial Conduct Authority, will operate an electronic off-market dealing facility for the Ordinary Shares. This facility will allow shareholders of the Company ("Shareholders") to trade their Ordinary Shares by matching buyers and sellers through quarterly auctions. Shareholders will continue to be able to hold their shares in uncertificated form (i.e. in CREST) and should check with their existing stockbroker that they are able to trade in unquoted shares.

The Asset Match trading facility operates under its own code of practice which governs the behaviour of participants and the running of the auctions. Asset Match operates an open auction system where volumes of bids and offers at different prices are displayed on its website. At the end of each auction period Asset Match pass this information through a non-discretionary algorithm that determines a "fair" share price based on supply and demand and allocates transactions accordingly. Bids and offers may be made and withdrawn at any time before the end of the quarterly period. Shareholders wanting to trade shares through Asset Match must do so through a stockbroker. The preferred broker is the Share Centre www.share.com. Full details of Asset Match can be found at www.assetmatch.com.

Shareholders should note that, following the Cancellation becoming effective, even with such a trading service in place, there will be no public market or trading facility on any recognised investment exchange for the Ordinary Shares and, accordingly, the opportunity for Shareholders to realise their investment in the Company will be much more limited and there will be no public valuation of Ordinary Shares held.

Further, whilst Shareholders will still have access to certain information following Cancellation (such as the Company's annual results), Shareholders will no longer be afforded the protections given under the AIM Rules and it will be subject to fewer operational restrictions and less stringent accounting and reporting requirements.

For further information, please go to: www.zincox.com or contact:

 
 ZincOx Resources plc               Tel: +44 (0) 127 
                                     645 0100 
 Andrew Woollett 
 Peel Hunt LLP (Nominated Adviser   Tel: +44 (0) 207 
  and Broker)                        418 8900 
 Richard Kauffer 
  Euan Brown 
  Asset Match Limited 
  Ben Weaver                          Tel: +44 (0) 207 
  Matthew Wilson                      248 2788 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCOKADNQBKDDQB

(END) Dow Jones Newswires

April 27, 2017 02:00 ET (06:00 GMT)