Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Well, I've reported some of you for abusive posts. Time will show how much this will go up before another drop down.
Debt reduces for those that missed. The Italian stallion strikes again.
https://www.investegate.co.uk/zenith-energy-ltd/zen/debt-reduction/202107290700118341G/?fe=1&utm_source=FE%20Investegate%20Alerts&utm_medium=Email&utm_content=Announcement%20Alert%20Mail&utm_campaign=Zenith+Energy+Ltd%20Alert
Can anyone confirm if the gomes news is fact?
Yep was bit too peaceful here guess we need a clown to make fun of in this case Gosia. Share price going up to 1.5 me likey ;)
You do realise the warrants they also have are for higher prices still. Does that not suggest something to your tiny little mind ??
More **** posts from you!
GL.
Massive shedding of shares? They didn’t get that many!
And then, guess what will follow...
That's a subject to lenders holding to their shares until these reach a high value or dividends being declared and paid. Otherwise we will witness a rise to the value of first tranche and massive shedding of shares by the lender.
Yes need to look at the big picture not knee jerk for the same!
Once deals are completed and output is drastically increase the income will be more than they have what to do with :)
Pity the poor peeps who sold out at first chance. Whoops.
Flying in oslo
https://twitter.com/01l_m8nd8r1n/status/1420637179253043204?s=21
Debt reduction do not increase or decrease the revenue. It impacts P&L.
AC had a choice of either diluting shares ahead of increased revenue (more oil produced at higher price) or reduce his P&L by paying off debt.
His choice was dilution. This is very bad choice for us PI.
1. More shares = lower value per share
2. Big sell offs of shares converted from warrants stopping share price growing up
2. Higher revenue will not translate into dividends - this company never pays any.
In short, we just paid off ZEN debt out of our private pockets (lower value of shares and lost future profit from SP growth).
For large companies who lend money to ZEN that's a brilliant move. They don't loose anything.
So I do hope that at one point AC will look down upon us PI and balance that off with a meaningful dividend.
Very nice! Minimum debt and maximum daily out put and revenue for the same:)
Good working ZEN.
Nice and cheeky!
Caught me out!
GL.
That the sort of confidence, I like to see,....great news, on issue price, (IMO).
BW
Crazy good news. So we are issuing shares well ABOVE the current level to clear outstanding debt. Shows the confidence. Rocket boosters on for tomorrow people’s.
Debt reduction
July 28, 2021
ZENITH ENERGY LTD.
("Zenith" or the "Company")
Debt reduction
Zenith Energy Ltd. ("Zenith" or the "Company") (LSE: ZEN; OSE: ZENA), the listed international oil & gas production company focused on pursuing African development opportunities, is pleased to announce that it has concluded a debt settlement agreement (the “Debt Settlement”) in respect of the drawdown of EUR 500,000 (the “Credit Facility”) made following the signing of a revolving line of credit agreement with a financial institution (the “Lender”) announced on February 24, 2021.
The Company has issued a total of 30,422,319 new common shares ("Debt Settlement Shares") at a price of NOK 0.1725 (equivalent to approximately £0.01412)to settle the Credit Facility in full.
An application for the Debt Settlement Shares to be listed on the standard segment of the FCA Official List and to be admitted for trading on the London Stock Exchange Main Market for listed securities will be made within 12 months of the issue date.
Issue of Share Subscription Warrants (the "Warrants")
In connection with the Debt Settlement, the Company has issued the Lender the following Warrants with a duration of two years:
• 20 million Warrants to acquire one common share for each Warrant at an exercise price of NOK 0.16 (equivalent to approximately £0.01310).
• 23 million Warrants to acquire one common share for each Warrant at an exercise price of NOK 0.20 (equivalent to approximately £0.01637).
Total Voting Rights
The Company wishes to announce, in accordance with the UK Financial Conduct Authority's Disclosure Guidance and Transparency Rules, as well as section 3.10 of the Euronext Growth Oslo Rule Book Part II, the following revised information resulting from the issuance of the Debt Settlement Shares:
Class of share
Total number of shares
Number of voting rights per share
Total number of voting rights 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 1,407,711,650 1 1,407,711,650