Director/PDMR Shareholding

RNS Number : 5003T

Zenith Energy Ltd

03 July 2018

 

July 3, 2018

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), the dual listed international oil & gas production company operating the largest onshore oilfield in Azerbaijan, is pleased to announce that its Chief Executive Officer & President, Mr. Andrea Cattaneo, has advised the Company that he has purchased a total of 2,008,808 common shares in the capital of the Company from Pole Position S.r.l., ("Pole Position"), at a price of £0.04 per common share. Pole Position is a company controlled by the immediate family of Mr. Luigi Regis Milano, an Executive Director of the Company; Mr. Regis Milano is also the sole director of Pole Position.  

In addition, Mr. Cattaneo has also advised the Company that he purchased a total of 300,000 common shares of no par value in the capital of the Company ("Common Shares") at an average price of £0.0416 per Common Share on July 2, 2018.

Following the aforementioned dealings, Mr. Cattaneo is directly beneficially interested in a total of 8,026,992 Common Shares in the capital of the Company, representing 3.75 per cent of the total issued and outstanding common share capital of the Company. As announced on December 15, 2017, Mr. Cattaneo is indirectly interested in a total of 1,250,000 Common Shares, today representing 0.58 per cent of the Company's issued share capital. 

For further information please contact:

Zenith Energy Ltd.  

Andrea Cattaneo 

Chief Executive Officer 

E-mail: [e-mail]

Tel: [phone]

Vigo Communications - PR Adviser

Patrick d'Ancona

Chris McMahon 

Kate Rogucheva

Tel: [phone]

Daniel Stewart & Company Plc - (Joint Broker)

Robert Emmet- Corporate Broking

Nikhil Varghese- Corporate Finance 

Tel: + 44 (0) 207 776 6550

Optiva Securities - (Joint Broker)

Christian Dennis

Tel: + 44 (0) 203 137 1903

Allenby Capital Limited - (Financial Adviser)

Nick Harriss

Nick Athanas

Tel: + 44 (0) 203 328 5656

Notes to Editors: 

Zenith Energy Ltd. is an international oil and gas production company, dual listed on the TSX Venture Exchange and London Stock Exchange. 

The Company operates the largest onshore oilfield in Azerbaijan following the signing of a 25-year REDPSA, (Rehabilitation, Exploration, Development and Production Sharing Agreement), with SOCAR, State Oil Company of the Azerbaijan Republic, 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, natural gas condensate and electricity.

Zenith's development strategy is to identify and rapidly seize value-accretive hydrocarbon production opportunities in the onshore oil & gas sector. The Company's Board of Directors and senior management team have the experience and technical expertise to develop the Company successfully.

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 & President
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 financial instrument, type of instrument	Common Shares
	Identification code	CA98936C1068
b)	Nature of the transaction	Purchase of Common Shares
c)	Price(s) and volumes(s)	Price(s)	Volume(s)
		£0.0415	100,000
		£0.0420	100,000
		£0.0414	100,000
d)	Aggregated information
	Aggregated volume	300,000
	Aggregated price	£0.042
e)	Date of the transaction(s)	July 2, 2018
f)	Place of the transaction	London Stock Exchange

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Pole Position S.r.l.
2	Reason for the notification
a)	Position/status	A company controlled by the immediate family of Mr. Luigi Regis Milano, an Executive Director of the Company
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 financial instrument, type of instrument	Common Shares
	Identification code	CA98936C1068
b)	Nature of the transaction	Disposal of Common Shares
c)	Price(s) and volumes(s)	Price(s)	Volume(s)
		£0.04	2,008,808
d)	Date of the transaction(s)	July 2, 2018
e)	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 & President
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 financial instrument, type of instrument	Common Shares
	Identification code	CA98936C1068
b)	Nature of the transaction	Purchase of Common Shares
c)	Price(s) and volumes(s)	Price(s)	Volume(s)
		£0.04	2,008,808
d)	Date of the transaction(s)	July 2, 2018
e)	Place of the transaction	London Stock Exchange

 

END

 

 

DSHSSSFMDFASEIW