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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 | |
---|---|---|---|---|---|---|---|---|---|---|
0.05 | 2.78% | 1.85 | 1.80 | 1.90 | 1.85 | 1.80 | 1.80 | 0.00 | 12:48:06 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMZEN
RNS Number : 6828Z
Zenith Energy Ltd
18 December 2017
December 18, 2017
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")
Exercise of Stock Options and Exercise of Warrants
Zenith Energy Ltd., ("Zenith" or the "Company") (LSE: ZEN; TSX.V: ZEE), the dual listed international oil & gas production company operating the largest onshore oilfield in Azerbaijan, announces that Mr. Erik Larre, a Non-Executive Director of the Company, and Mr. Luca Benedetto, Chief Financial Officer of the Company, have exercised stock options. Zenith also announces that an investor in the Company has elected to exercise warrants.
Exercise of Stock Options
Mr. Larre has today exercised stock options to acquire 500,000 common shares of no par value in the capital of the Company, (the "New Shares"), at an exercise price (the "Options Price") of CAD$0.10 (approximately GBP0.06) per New Share at a total of cost of CAD$50,000, (approximately GBP30,000).
Mr. Benedetto has today exercised stock options to acquire a total of 1,150,000 common shares of no par value in the capital of the Company, (the "New Shares"), at an Options Price of CAD$0.10 (approximately GBP0.06) per New Share for 400,000 New Shares, and an Options Price of CAD$0.15 per New Share for 750,000 New Shares at a total of cost of CAD$152,500, (approximately GBP91,500).
The Stock Options Plan, (the "Plan"), was approved by shareholders at the Company's last AGM, held on January 20, 2017.
Exercise of Warrants
The Company also announces that an investor in the Company has today exercised warrants to acquire 100,000 new common shares of no par value (the "Warrant Shares") in the capital of the Company. The exercise price of the warrants was CAD$0.20 per Warrant Share, (approximately GBP0.12), at a total of cost of CAD$20,000 (approximately GBP12,000).
Total Voting Rights
As a result of these dealings, the Company will issue a total of 1,750,000 new common shares (the "New Common Shares"). An application will be made for the New Common Shares to be admitted to the standard segment of the Financial Conduct Authority UK Official List and to trading on the Main Market for listed securities of the London Stock Exchange (the "Admission"). The New Common Shares will rank pari passu in all respects with the existing common shares of the Company. An application will also be made for the New Common Shares to be listed on the TSX Venture Exchange. It is expected that Admission will become effective and unconditional dealings in the New Common Shares will begin on December 22, 2017.
Following Admission of the New Common Shares, the Company will have 144,200,119 common shares in issue and admitted to trading on the Main Market of the London Stock Exchange and the Toronto Stock Exchange Venture Exchange. The above figure 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 change to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
Transfer of Shares
Mr. Larre and Mr. Benedetto have advised the Company that they intend to transfer their respective New Shares to certain advisers as compensation for services rendered to Mr. Larre and Mr. Benedetto, respectively.
As a result of these two transactions, Mr. Larre will be beneficially interested in a total of 4,334,068, common shares in the Company, representing 3.01 per cent of the Company's issued common share capital, as enlarged by the issue of New Common Shares.
For further information please contact:
Zenith Energy Ltd.
Andrea Cattaneo
Chief Executive Officer
Email: info@zenithenergy.ca
Telephone: +1 (587) 315 9031
Telefax: +1 (403) 775 4474
Optiva Securities - (Joint Broker)
Christian Dennis
Telephone: + 44 (0) 203 137 1903
Beaufort Securities Limited - (Joint Broker)
Jon Belliss
Telephone: +44 207 382 8300
Allenby Capital Limited - (Financial Adviser)
Nick Harriss
Nick Athanas
Telephone: + 44 (0) 203 328 5656
Yellow Jersey (Financial PR/IR)
Tim Thompson
Telephone: +44 (0) 203 735 8825
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 Erik Larre ---- -------------------------------- ---------------------------- 2 Reason for the notification ---- -------------------------------------------------------------- a) Position/status Non-Executive Director ---- -------------------------------- ---------------------------- 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 the Stock Options financial instrument, (New Common Shares) type of instrument ---- -------------------------------- ---------------------------- Identification code CA98936C1068 ---- -------------------------------- ---------------------------- b) Nature of the transaction Exercise of Stock Options ---- -------------------------------- ---------------------------- c) Price(s) and volumes(s) Price(s) Volume(s) ---- -------------------------------- ------------- ------------- CAD$0.10 50000 --------------------------------------------------- ------------- d) Aggregated information N/A (single transaction) ---- -------------------------------- ---------------------------- Aggregated volume ----------------------------------------------- ------------------ Price ----------------------------------------------- ------------------ e) Date of the transaction December 18, 2017 ---- -------------------------------- ---------------------------- f) Place of the transaction Toronto Stock Exchange 1 Details of the person discharging managerial responsibilities / person closely associated ---- ---------------------------------------------------------- a) Name Luca Benedetto ---- -------------------------------- ------------------------ 2 Reason for the notification ---- ---------------------------------------------------------- a) Position/status Chief Financial 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 Stock Options the financial (New Common Shares) instrument, type of instrument ---- -------------------------------- ------------------------ Identification CA98936C1068 code ---- -------------------------------- ------------------------ b) Nature of the Exercise of Stock transaction Options ---- -------------------------------- ------------------------ c) Price(s) and volumes(s) Price(s) Volume(s) ---- -------------------------------- ----------- ----------- CAD$0.10 400000 ------------------------------------------------- ----------- CAD$0.15 750000
------------------------------------------------- ----------- d) Date of the transaction December 18, 2017 ---- -------------------------------- ------------------------ e) Place of the transaction Toronto Stock Exchange ---- -------------------------------- ------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
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(END) Dow Jones Newswires
December 18, 2017 11:30 ET (16:30 GMT)
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