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ZincOx Resources' open offer to be on 1 for 21 basis

Published: 07:49 23 Jul 2015 BST

Plant
Funds from the open offer will be used to progress work on the next EAFD recycling project in Thailand

ZincOx (LON:ZOX) has revealed its open offer of shares will be on the basis of one new share for every 21 shares held.

The company said last week when it placed shares at 13p a pop that qualifying shareholders would have the chance to buy shares at the same price, and it has now fired the starting pistol on the open offer, through which the company is seeking to raise up to £1.1mln.

As at last night's close, the offer price – the price at which market makers will sell ZincOx shares – was 13.25p.

Instructions on how to participate in the open offer are set out in a circular being sent out to shareholders today.

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