Director/PDMR Shareholding

RNS Number : 0404Z
Zenith Energy Ltd
15 May 2019
 

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.

 

 

May 15, 2019

 

ZENITH ENERGY LTD.

 

("Zenith" or the "Company")

Director/ PDMR Shareholding

 

Zenith Energy Ltd. ("Zenith" or the "Company") (LSEZENTSX.VZEE; OSE: ZENA-ME) the listed international oil & gas production company operating the largest onshore oilfield in Azerbaijan, announces that its Chief Executive Officer & President, Mr. Andrea Cattaneo, has advised the Company that he has granted a call option on May 13, 2019 over 1,000,000 common shares of no par value ("Common Shares") in the capital of the Company, owned by Mr Cattaneo, at an exercise price of CAD$0.10 per Common Share (approximately £0.057) that can be exercised between  July 1, 2019 and April 4, 2020 (the "Option").

Following the granting of the Option, Mr. Cattaneo is directly beneficially interested in a total of 22,307,911 Common Shares in the capital of the Company, representing 8.02% of the total issued and outstanding common share capital of the Company admitted to trading on the Main Market for listed securities of the London Stock Exchange, and representing 7.14% 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.

As announced on December 15, 2017, Mr. Cattaneo is indirectly interested in a total of 1,250,000 Common Shares, today representing 0.48% of the Company's issued and outstanding common share capital admitted to trading on the Main Market of the London Stock Exchange, and representing 0.40% 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.

 

Further information:

 

Zenith Energy Ltd 

 

Andrea Cattaneo, Chief Executive Officer

Tel: +1 (587) 315 9031

                                                              

E-mail: info@zenithenergy.ca

 

 

Peterhouse Capital - Joint Broker

Tel: + 44 (0) 207 469 0930

Lucy Williams

 

Charles Goodfellow

 

 

 

Novum Securities Limited - Joint Broker

Tel: + 44 (0) 207 399 9400

Charlie Brook-Partridge

 

Hugh McAlister

 

 

 

Allenby Capital Limited - Financial Adviser

Tel: + 44 (0) 203 328 5656

Nick Harriss

 

Nick Athanas

 

 

 

IFC Advisory Limited - Financial PR & IR

Tel: + 44 (0) 203 934 6630

Graham Herring

 

Miles Nolan

 

Zach Cohen

 

  

 

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 8, 2018 by Arc Ratings, S.A. 

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 Republic of Azerbaijan, 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, 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

Granting of call option

 

c)

Price(s) and volumes(s)

Price(s)

Volume(s)

 

 CAD$0.10

1,000,000

 

d)

Date of the transaction(s)

 May 13, 2019

 

e)

Place of the transaction

 TSX Venture Exchange

 

 


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