ZEN placing20 Jun 2018 17:32
enith Energy Ltd., ("Zenith" or the "Company"), (LSE: ZEN; TSX.V: ZEE), the international oil and gas production company operating the largest onshore oilfield in Azerbaijan, has today published a prospectus (the "Prospectus") in connection with a placing and subscription to raise £2.02 million (before expenses) through the issue of 50,500,000 new common shares of no par value in the capital of the Company ("Common Shares") at an issue price of 4p per share (the "Issue Price") (the " Placing and Subscription").
The Issue Price is a discount of 21.6 per cent. to the closing middle market price of 5.10 pence per existing Common Share on the LSE on 19 June 2018, being the last business day prior to this announcement.