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So the plan is for 2.3bn shares > 231m shares post consolidation
I hold AC and Zen responsible for there being so many shares in the first place due to lack of results and keep needing funds.
So it’s a shame we need to now consolidate to attract new capital (exactly as written in the RNS attachment)
Just getting round to reading the RNS attachment. I was right…
“ In practice, however, many investors consider lower-priced shares as unduly speculative in nature and, as a matter of policy, avoid investment in such shares. The presence of these negative perceptions may adversely affect not only the pricing of the Common Shares but also future investor opportunities. These perceptions may affect the Corporation’s commercial business and the Corporation’s ability to raise additional capital through equity and debt financings.”
The last sentence is very important. They want a higher share price for perception and to raise capital.
So basically after a shed load of dilution 2017 > 2022 Zen
Are now proposing a 10>1 share consolidation.
The only reason I can fathom why would be to make the SP look more attractive and the No of shares in issue lower. Otherwise why???
Maybe once they’ve done this they’ll start the dilution again?!?!?!
“Among the resolutions presented at the Annual General Meeting will be a change in the number of issued and outstanding common shares ("Common Shares") of the Company by consolidating such issued and outstanding Common Shares on the basis of one (1) post-consolidation Common Share for each 10 existing Common Shares (the "Consolidation"). The Company will issue a separate regulatory news announcement with key information regarding the Consolidation as soon as the relevant dates have been fixed.”
7. An update on the Arab investor. 31/03/20 RNS:
"Zenith Energy Ltd., ("Zenith" or the "Company"), (LSE: ZEN; TSX.V: ZEE; OSE: ZENA-ME), the international oil & gas production company, is pleased to announce that it has signed a non-binding Letter of Intent ("LOI") with an Arab consortium of strategic institutional investors focused on African development opportunities, to provide an investment of US$2 million in Zenith's share capital at a price of 2.5 pence per Zenith common share (equivalent to approximately NOK 0.33 or CAD$0.043), representing a premium of 384% over the closing mid-market price of Zenith's common shares admitted to trading on the London Stock Exchange on March 30, 2020 ("Strategic Investment").
(Around the time of this RNS the share price was 1p fyi).
I also can't remember seeing a further update on this.
6. An update on the PPE manufacturing / alcohol gel. 28/04/20 RNS:
"In the first instance, the Company intends to export PPE manufactured in the UK to African countries, specifically the Republic of the Congo and other African countries where Zenith is seeking to acquire oil and gas production assets. In a secondary phase, the Company may establish PPE manufacturing activities in the vicinity of its oil and gas production operations"
"The Company is in discussions with a local partner in Pointe-Noire to finalise an agreement for the establishment of a manufacturing facility for medical grade hand sanitiser ("Disinfectant Gel")."
Can anyone else remember reading more or getting a further update on the subject?
And just like clockwork out comes another post claiming someone isn’t invested.
What categoric proof do you have of this then?
Anyway back on topic… Zen really do need to get some reassuring news out soon. Feels like a lot spooked or sceptical and leadership quiet imo
Deramping pointless as you get personally attacked / accused of not being invested / told that buying shares not for you etc etc…
Anyone is welcome to their opinion
And the money owed in the court claim is NOT guaranteed. Nothing is. So please don’t say it is