TIDMZEN
RNS Number : 1389A
Zenith Energy Ltd
17 January 2020
January 17, 2020
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.
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 international oil & gas
production company, announces that its Chief Executive Officer
& President, Mr. Andrea Cattaneo, has advised the Company of
the following information:
-- On January 14, 2020, he purchased a total of 7,000,000 common
shares of no par value ("Common Shares") in the capital of the
Company at an average price of GBP0.02079.
-- On January 14, 2020, Mr. Cattaneo pledged a total of
6,666,667 Common Shares of no par value in the capital of the
Company as third-party guarantor in support of the Company for a
non-convertible financial instrument.
-- On January 14, 2020, Mr. Cattaneo sold 1,000,000 Zenith
Common Shares on the London Stock Exchange at an average price of
GBP0.0235 per Common Share.
-- On January 14, 2020, Mr. Cattaneo purchased 1,000,000 Zenith
Common Shares on the London Stock Exchange at an average price of
GBP0.0237 per Common Share.
-- On January 14, 2020, Mr. Cattaneo transferred 1,500,000
common shares as a gift to a family member for nil
consideration.
Following the aforementioned dealings, Mr. Cattaneo is directly
beneficially interested in a total of 41,159,115 Common Shares in
the capital of the Company, representing 9.12 per cent 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.
Mr. Cattaneo is also indirectly interested in a total of 480,000
Common Shares, today representing 0.11 per cent of the Company's
issued and outstanding common share capital admitted to trading on
the TSX Venture Exchange and Merkur Market of the Oslo Børs.
Change of Corporate Broker
The Company announces that with effect from today Novum
Securities Limited is its sole broker on the London Stock
Exchange.
Further Information:
Zenith Energy Ltd
-----------------------------
Andrea Cattaneo, Chief Executive Officer Tel: +1 (587) 315 9031
-----------------------------
E-mail: info@zenithenergy.ca
-----------------------------
Novum Securities Limited - Broker Tel: + 44 (0) 20 7399 9400
-----------------------------
Charlie Brook-Partridge
-----------------------------
Hugh McAlister
-----------------------------
IFC Advisory Limited - Financial PR Tel: + 44 (0) 20 3934 6630
& IR
-----------------------------
Graham Herring
-----------------------------
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 9, 2019 by Arc
Ratings, S.A. On November 18, 2019, the Company was assigned a "B+"
with Stable Outlook debt issuer credit rating by Rating-Agentur
Expert RA.
The Company operates the largest onshore oilfield in Azerbaijan
by cumulative acreage 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.
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
-------------------------------- ----------------------------------
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 Pledging of common shares as
third-party guarantor for the
Company
-------------------------------- ----------------------------------
c) Price(s) and volumes(s) Price(s) Volume(s)
-------------------------------- ---------------- ----------------
n/a 6,666,667
------------------------------------------------------ ----------------
d) Aggregated information
-------------------------------------------------- ----------------
Aggregated volume n/a
-------------------------------- ---------------------------------------
Aggregated price n/a
-------------------------------- ---------------------------------------
e) Date of the transaction(s) January 14, 2020
-------------------------------- ----------------------------------
f) Place of the transaction London Stock 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
-------------------------------- -----------------------------
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 Purchase of common shares
-------------------------------- -----------------------------
c) Price(s) and volumes(s) Price(s) Volume(s)
-------------------------------- -------------- -------------
n/a 7,000,000
---------------------------------------------------- -------------
d) Aggregated information
------------------------------------------------ -------------
Aggregated volume n/a
-------------------------------- ----------------------------------
Aggregated price n/a
-------------------------------- ----------------------------------
e) Date of the transaction(s) January 14, 2020
-------------------------------- -----------------------------
f) Place of the transaction Outside a trading venue
-------------------------------- -----------------------------
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
-------------------------------- ----------------------------------------
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 Gift of shares for nil consideration
to a family member
-------------------------------- ----------------------------------------
c) Price(s) and volumes(s) Price(s) Volume(s)
-------------------------------- ------------------- -------------------
n/a 1,500,000
--------------------------------------------------------- -------------------
d) Aggregated information
----------------------------------------------------- -------------------
Aggregated volume n/a
-------------------------------- ---------------------------------------------
Aggregated price n/a
-------------------------------- ---------------------------------------------
e) Date of the transaction(s) January 14, 2020
-------------------------------- ----------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------------- ----------------------------------------
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
-------------------------------- ----------------------------
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)
-------------------------------- -------------- ------------
GBP0.0235 1,000,000
---------------------------------------------------- ------------
d) Aggregated information
------------------------------------------------ ------------
Aggregated volume n/a
-------------------------------- ---------------------------------
Aggregated price n/a
-------------------------------- ---------------------------------
e) Date of the transaction(s) January 14, 2020
-------------------------------- ----------------------------
f) Place of the transaction London Stock 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
-------------------------------- -----------------------------
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 Purchase of common shares
-------------------------------- -----------------------------
c) Price(s) and volumes(s) Price(s) Volume(s)
-------------------------------- -------------- -------------
GBP0.0237 1,000,000
---------------------------------------------------- -------------
d) Aggregated information
------------------------------------------------ -------------
Aggregated volume n/a
-------------------------------- ----------------------------------
Aggregated price n/a
-------------------------------- ----------------------------------
e) Date of the transaction(s) January 14, 2020
-------------------------------- -----------------------------
f) 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
DSHSFWSMWESSEDF
(END) Dow Jones Newswires
January 17, 2020 02:00 ET (07:00 GMT)
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