Zenith Energy Ltd Director/PDMR Shareholding (6501D)

TIDMZEN

RNS Number : 6501D

Zenith Energy Ltd

20 February 2020

February 20, 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 that he purchased a total of 350,000 common shares of no par value ("Common Shares") in the capital of the Company at an average price of GBP0.0141 (approximately CAD$0.024) per Common Share on the London Stock Exchange.

Following the aforementioned dealings, Mr. Cattaneo is directly beneficially interested in a total of 41,509,115 Common Shares in the capital of the Company, representing 7.19 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 0.08 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.

Further Information:

 
 Zenith Energy Ltd 
 Andrea Cattaneo, Chief Executive    Tel: [phone] 
  Officer 
                                    ----------------------------- 
                                     E-mail: [e-mail] 
                                    ----------------------------- 
 
 Novum Securities Limited - Broker   Tel: + 44 (0) 207 399 
                                      9400 
                                    ----------------------------- 
 Charlie Brook-Partridge 
                                    ----------------------------- 
 Hugh McAlister 
                                    ----------------------------- 
 

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. 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                     Purchase of Common Shares 
        transaction 
      --------------------------------  ----------------------------- 
 c)    Price(s) and volumes(s)           Price(s)        Volume(s) 
      --------------------------------  --------------  ------------- 
                                              GBP0.014        250,000 
  ----------------------------------------------------  ------------- 
 d)    Aggregated information 
      ------------------------------------------------  ------------- 
  Aggregated volume                 n/a 
 --------------------------------  ---------------------------------- 
  Aggregated price                  n/a 
 --------------------------------  ---------------------------------- 
 e)    Date of the transaction(s)        February 17, 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                     Purchase of Common Shares 
        transaction 
      --------------------------------  ----------------------------- 
 c)    Price(s) and volumes(s)           Price(s)         Volume(s) 
      --------------------------------  ---------------  ------------ 
                                             GBP0.01425       100,000 
  -----------------------------------------------------  ------------ 
 d)    Aggregated information 
      -------------------------------------------------  ------------ 
  Aggregated volume                 n/a 
 --------------------------------  ---------------------------------- 
  Aggregated price                  n/a 
 --------------------------------  ---------------------------------- 
 e)    Date of the transaction(s)        February 18, 2020 
      --------------------------------  ----------------------------- 
 f)    Place of the transaction          London Stock Exchange 
      --------------------------------  ----------------------------- 
 

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END

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February 20, 2020 09:26 ET (14:26 GMT)