Zenith Energy Ltd Sale of Common Shares held in Treasury (1595L)

TIDMZEN

RNS Number : 1595L

Zenith Energy Ltd

11 January 2021

January 11, 2021

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")

Sale of Common Shares held in Treasury

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, is pleased to announce that, as a result of market demand, it has sold 25,395,828 common shares of no par value (the "Common Shares") in the capital of the Company, which it held in treasury, at a price of NOK 0.148 (approximately GBP0.013), the last closing price of the Company's equity listing on the Euronext Growth of the Oslo Stock Exchange, for a total consideration of 3,758,582 NOK (approximately equivalent to GBP328,000).

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.

 
 
   Class of share             Total number     Number of         Total number of 
                              of shares        voting rights     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        313,400,824          1                   313,400,824 
                           ---------------  ----------------  --------------------- 
 Common Shares in 
  issue and admitted 
  to trading on the 
  Euronext Growth Market 
  of the Oslo Børs 
  - representing the 
  total outstanding 
  common share capital 
  of the Company             1,070,644,350          1                 1,070,644,350 
                           ---------------  ----------------  --------------------- 
 

No common 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 Officer   Tel: [phone] 
                                           ----------------------------- 
                                            E-mail: [e-mail] 
                                           ----------------------------- 
 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 Euronext Growth Market of the Oslo Stock Exchange (OSE:ZENA).

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.

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January 11, 2021 02:00 ET (07:00 GMT)