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20 Feb 2020 14:26
February 20, 2020
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.
ZENITH ENERGY LTD.
("Zenith" or the "Company")
Director/ PDMR Shareholding
Zenith Energy Ltd., ("Zenith" or the "Company"), (LSE: ZEN; TSX.V: ZEE; OSE: ZENA-ME), the international oil & gas production company, announces that its Chief Executive Officer & President, Mr. Andrea Cattaneo, has advised the Company that he purchased a total of 350,000 common shares of no par value ("Common Shares") in the capital of the Company at an average price of £0.0141 (approximately CAD$0.024) per Common Share on the London Stock Exchange.
Following the aforementioned dealings, Mr. Cattaneo is directly beneficially interested in a total of 41,509,115 Common Shares in the capital of the Company, representing 7.19 per cent 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.
Mr. Cattaneo is also indirectly interested in a total of 480,000 Common Shares, today representing 0.08 per cent of the Company's issued and outstanding common share capital 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 |
Novum Securities Limited - Broker | Tel: + 44 (0) 207 399 9400 |
Charlie Brook-Partridge | |
Hugh McAlister |
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 9, 2019 by Arc Ratings, S.A. On November 18, 2019, the Company was assigned a "B+" with Stable Outlook debt issuer credit rating by Rating-Agentur Expert RA.
The Company operates the largest onshore oilfield in Azerbaijan by cumulative acreage 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. 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.
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 | |
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 | Purchase of Common Shares | |
c) | Price(s) and volumes(s) | Price(s) | Volume(s) |
£0.014 | 250,000 | ||
d) | Aggregated information | ||
Aggregated volume | n/a | ||
Aggregated price | n/a | ||
e) | Date of the transaction(s) | February 17, 2020 | |
f) | Place of the transaction | London Stock Exchange | |
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 | |
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 | Purchase of Common Shares | |
c) | Price(s) and volumes(s) | Price(s) | Volume(s) |
£0.01425 | 100,000 | ||
d) | Aggregated information | ||
Aggregated volume | n/a | ||
Aggregated price | n/a | ||
e) | Date of the transaction(s) | February 18, 2020 | |
f) | Place of the transaction | London Stock Exchange | |
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