Asset on its way30 Dec 2022 17:19
December 30, 2022
ZENITH ENERGY LTD.
("Zenith" or the "Company")
New strategic investor in Zenith Netherlands
Zenith Energy Ltd. (LSE: ZEN; OSE: ZENA), the energy company with proven revenue generating production, exploration and development assets in Africa and Europe is pleased to announce that it has concluded a share purchase agreement (“SPA”) with Hingbo Industries Company Limited, a company incorporated in Hong Kong, for the sale of a 51% interest in the issued, allotted, outstanding and fully paid-up share capital of its fully owned subsidiary, Zenith Energy Netherlands B.V (“Zenith Netherlands”), for a nominal consideration.
Zenith Netherlands is currently dormant and has no assets.
Andrea Cattaneo, Chief Executive Officer of Zenith, commented:
"We are pleased to welcome a new strategic financial investor in Zenith Netherlands, a company we shall use to pursue potentially highly prospective future acquisition opportunities on a joint venture basis.
The Board looks forward with enthusiasm to updating shareholders on several fronts in due course.”