TIDMZEN
RNS Number : 9090E
Zenith Energy Ltd
09 July 2019
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulation (EU) No. 596/2014 ("MAR"). Upon
publication of this announcement via a regulatory information
service ("RIS"), the inside information contained in this document
is now considered to be in the public domain.
July 9, 2019
ZENITH ENERGY LTD.
("Zenith" or the "Company")
Director/PDMR Shareholding
Zenith Energy Ltd. ("Zenith" or the "Company") (LSE: ZEN; TSX.V:
ZEE; OSE: ZENA-ME) the listed international oil & gas
production company operating the largest onshore oilfield in
Azerbaijan, is pleased to announce that its Chief Executive Officer
& President, Mr. Andrea Cattaneo, has advised the Company that
on July 4, 2019, he sold a total of 1,660,000 common shares of no
par value ("Common Shares") in the capital of the Company at a
price of GBP0.03 per Common Share (approximately CAD$0.05).
As per Mr. Cattaneo's previous transaction announced on July 4,
2019, he used all the proceeds of the sale to exercise stock
options and acquire 688,797 common shares of no-par value in the
capital of the Company, (the "New Shares"), at an exercise price
(the "Options Price") of CAD$0.12 (approximately GBP0.07) per New
Share.
The Stock Options Plan, (the "Plan"), was approved by
shareholders at the Company's last AGM, held on June 17, 2019.
Following the aforementioned dealings, Mr. Cattaneo is directly
beneficially interested in a total of 19,159,115 Common Shares in
the capital of the Company, representing 6.77% of the total issued
and outstanding common share capital of the Company admitted to
trading on the Main Market for listed securities of the London
Stock Exchange, and representing 6.11% of the total issued and
outstanding common share capital of the Company admitted to trading
on the TSX Venture Exchange and Merkur Market of the Oslo Børs.
As announced on December 15, 2017, Mr. Cattaneo is indirectly
interested in a total of 1,250,000 Common Shares, today
representing 0.48% of the Company's issued and outstanding common
share capital admitted to trading on the Main Market of the London
Stock Exchange, and representing 0.40% of the total issued and
outstanding common share capital of the Company admitted to trading
on the TSX Venture Exchange and Merkur Market of the Oslo Børs.
Total Voting Rights
The Company wishes to announce, in accordance with the Financial
Conduct Authority's Disclosure Guidance and Transparency Rules, the
following information after the issue of the New Shares:
Class of share Total number Number of Total number
of shares voting rights of voting rights
per share per class of
share
Common shares in
issue and admitted
to trading on the
Main Market of the
London Stock Exchange 259,715,357 1 259,715,357
----------------- ---------------- -------------------
Common shares in
issue and admitted
to trading on the
TSXV 313,719,929 1 313,719,929
----------------- ---------------- -------------------
Common shares in
issue and admitted
to trading on the
Merkur Market of
the Oslo Børs 313,719,929 1 313,719,929
----------------- ---------------- -------------------
No shares are held in treasury. The above figure for total
number of Common Shares may be used by shareholders in the Company
as the denominator for the calculations by which they will
determine if they are required to notify their interest in, or a
change to their interest in, the Company under the Financial
Conduct Authority's Disclosure Guidance and Transparency Rules.
Further information:
Zenith Energy Ltd
Andrea Cattaneo, Chief Executive Tel: +1 (587) 315 9031
Officer
-----------------------------
E-mail: info@zenithenergy.ca
-----------------------------
Peterhouse Capital - Joint Broker Tel: + 44 (0) 207 469
0930
-----------------------------
Lucy Williams
-----------------------------
Charles Goodfellow
-----------------------------
Novum Securities Limited - Joint Tel: + 44 (0) 207 399
Broker 9400
-----------------------------
Charlie Brook-Partridge
-----------------------------
Hugh McAlister
-----------------------------
IFC Advisory Limited - Financial Tel: + 44 (0) 203 934
PR & IR 6630
-----------------------------
Graham Herring
-----------------------------
Miles Nolan
-----------------------------
Zach Cohen
-----------------------------
Notes to Editors:
Zenith Energy Ltd. is an international oil and gas production
company, listed on the TSX Venture Exchange (TSX.V:ZEE) and London
Stock Exchange (LSE:ZEN). In addition, the Company's common share
capital was admitted to trading on the Merkur Market of the Oslo
Børs (ZENA:ME) on November 8, 2018. The Merkur Market is a
multilateral trading facility owned and operated by the Oslo
Børs.
The Company was assigned a medium to long-term issuer credit
rating of "B+ with Positive Outlook" on October 8, 2018 by Arc
Ratings, S.A.
The Company operates the largest onshore oilfield in Azerbaijan
following the signing of a 25-year REDPSA, (Rehabilitation,
Exploration, Development and Production Sharing Agreement), with
SOCAR, State Oil Company of the Republic of Azerbaijan, in
2016.
The Company's primary focus is the development of its Azerbaijan
operations by leveraging its technical expertise and financial
resources to maximise low-cost oil production via a systematic
field rehabilitation programme intended to achieve significantly
increased revenue. Zenith also operates, or has working interests
in, a number of natural gas production concessions in Italy. The
Company's Italian operations produce natural gas, condensate and
electricity.
Zenith's development strategy is to identify and rapidly seize
value-accretive hydrocarbon production opportunities in the onshore
oil & gas sector. The Company's Board of Directors and senior
management team have the experience and technical expertise to
develop the Company successfully.
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS
DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY
ASSOCIATED WITH THEM
1 Details of the person discharging managerial
responsibilities / person closely associated
a) Name Andrea Cattaneo
-------------------------------- -----------------------------
2 Reason for the notification
---------------------------------------------------------------
a) Position/status Chief Executive Officer &
President
-------------------------------- -----------------------------
b) Initial notification/Amendment Initial Notification
-------------------------------- -----------------------------
3 Details of the issuer, emission allowance market
participant, auction platform, auctioneer or
auction monitor
---------------------------------------------------------------
a) Name Zenith Energy Ltd.
-------------------------------- -----------------------------
b) LEI 213800AYTYOYD61S4569
-------------------------------- -----------------------------
4 Details of the transaction(s): section to be
repeated for (i) each type of instrument; (ii)
each type of transaction; (iii) each date;
and (iv) each place where transactions have
been conducted
---------------------------------------------------------------
a) Description of Stock Options (New Common
the financial instrument, Shares)
type of instrument
-------------------------------- -----------------------------
Identification CA98936C1068
code
-------------------------------- -----------------------------
b) Nature of the transaction Exercise of stock options
-------------------------------- -----------------------------
c) Price(s) and volumes(s) Price(s) Volume(s)
-------------------------------- --------------- ------------
CAD$ 0.12 688,797
----------------------------------------------------- ------------
d) Date of the transaction(s) July 4, 2019
-------------------------------- -----------------------------
e) Place of the transaction TSX Venture Exchange
-------------------------------- -----------------------------
1 Details of the person discharging managerial
responsibilities / person closely associated
a) Name Andrea Cattaneo
-------------------------------- -----------------------------
2 Reason for the notification
---------------------------------------------------------------
a) Position/status Chief Executive Officer &
President
-------------------------------- -----------------------------
b) Initial notification/Amendment Initial Notification
-------------------------------- -----------------------------
3 Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
---------------------------------------------------------------
a) Name Zenith Energy Ltd.
-------------------------------- -----------------------------
b) LEI 213800AYTYOYD61S4569
-------------------------------- -----------------------------
4 Details of the transaction(s): section to
be repeated for (i) each type of instrument;
(ii) each type of transaction; (iii) each
date; and (iv) each place where transactions
have been conducted
---------------------------------------------------------------
a) Description of Common Shares
the financial instrument,
type of instrument
-------------------------------- -----------------------------
Identification CA98936C1068
code
-------------------------------- -----------------------------
b) Nature of the transaction Sale of Common Shares
-------------------------------- -----------------------------
c) Price(s) and volumes(s) Price(s) Volume(s)
-------------------------------- -------------- -------------
GBP
0.03 1,660,000
---------------------------------------------------- -------------
d) Date of the transaction(s) July 4, 2019
-------------------------------- -----------------------------
e) Place of the transaction London Stock Exchange
-------------------------------- -----------------------------
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
DSHSSESLUFUSELW
(END) Dow Jones Newswires
July 09, 2019 04:32 ET (08:32 GMT)
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