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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Zenith Energy Ltd. | LSE:ZEN | London | Ordinary Share | CA98936C8584 | COM SHS NPV (DI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.80 | 1.70 | 1.90 | 1.80 | 1.80 | 1.80 | 0.00 | 07:42:08 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMZEN
RNS Number : 2053A
Zenith Energy Ltd
25 September 2020
September 25, 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")
Completion of Financing
Zenith Energy Ltd. ("Zenith" or the "Company") (LSE: ZEN; OSE: ZENA-ME), the listed international oil & gas production company focused on pursuing African development opportunities, announces that it has completed a private placement in Norway (the "Financing").
The Financing has attracted the participation of existing private investors to raise an aggregate total amount of approximately NOK 4,500,000 (approximately GBP409,000)
Issue Price
The issue price of the Financing was NOK 0.045 per common share of no par value in the capital of the Company ("Common Shares"), equivalent to approximately GBP0.004 (0.4 pence).
Use of Proceeds
The proceeds of the Financing will be used to provide additional fund for the Company's publicly announced acquisition campaign in Africa, as well as for general working capital purposes.
Financing Overview
Zenith has issued a total of 100,000,000 new Common Share units ("New Common Shares").
An application for the new Common Shares to be listed on the standard segment of the FCA Official List and to be admitted for trading on the London Stock Exchange Main Market for listed securities will be made within 12 months of the issue date.
Total Voting Rights
The Company wishes to announce, in accordance with the Financial Conduct Authority's Disclosure Guidance and Transparency Rules, the following revised information resulting from completion of the Financing.
Class of share Total number Number Total number of shares of voting of voting rights rights per class of per share share Common Shares in issue and admitted to trading on the Main Market of the London Stock Exchange 313,400,824 1 313,400,824 --------------- ------------ ------------------- Common Shares in issue and admitted to trading on the Merkur Market of the Oslo Børs - representing the total outstanding common share capital of the Company 1,042,072,921 1 1,042,072,921 --------------- ------------ -------------------
Zenith holds 25,395,828 Common Shares 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 Officer Tel: +1 (587) 315 9031 ----------------------------- E-mail: info@zenithenergy.ca ----------------------------- Allenby Capital Limited - Financial Adviser & Broker ----------------------------- Nick Harriss Tel: + 44 (0) 203 328 Nick Athanas 5656 -----------------------------
Notes to Editors:
Zenith Energy Ltd. is an international oil and gas production company, listed on the London Stock Exchange (LSE:ZEN) and the Merkur Market of the Oslo Stock Exchange (ZENA:ME).
Zenith's development strategy is to identify and rapidly seize value-accretive hydrocarbon production opportunities in the onshore oil & gas sector, specifically in Africa. The Company's board of directors and senior management team have the experience and technical expertise to develop the Company successfully.
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.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
END
IOEUVANRRBUKUAR
(END) Dow Jones Newswires
September 25, 2020 12:30 ET (16:30 GMT)
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