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27 Sep 2018 07:00
September 27, 2018
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").Ā 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.
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ZENITH ENERGY LTD.
("Zenith" or the "Company")
Director/ PDMR Shareholding
Zenith Energy Ltd. ("Zenith" or the "Company") (LSE:Ā ZEN;Ā TSX.V:Ā ZEE), the dual listed international oil & gas production company operating the largest onshore oilfield in Azerbaijan, is pleased to announce thatĀ its Chief Executive Officer & President, Mr. Andrea Cattaneo, hasĀ advised the Company that he has purchased a total ofĀ 1,120,000Ā common shares of no par value ("Common Shares") in the capital of the Company at a total average price of Ā£0.0341.Ā
Following the aforementioned dealings, Mr. CattaneoĀ is directly beneficially interested in a totalĀ ofĀ 15,046,992Ā Common Shares in the capital of the Company, representingĀ 7.03Ā per cent of the total issued and outstanding common share capital of the Company.Ā As announced on December 15, 2017,Ā Mr. Cattaneo isĀ indirectly interested in a total of 1,250,000 Common Shares, today representingĀ 0.58Ā per centĀ of the Company's issued share capital.Ā
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For further information please contact:
Zenith Energy Ltd.
Andrea CattaneoĀ
Chief Executive OfficerĀ
E-mail:Ā info@zenithenergy.ca
Tel: +1 (587) 315 9031
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Vigo Communications - PR Adviser
Patrick d'Ancona
Chris McMahonĀ
Kate Rogucheva
Tel: +44 (0) 20 7830 9700
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Daniel Stewart & Company PlcĀ - (Joint Broker)
Robert Emmet- Corporate Broking
Joel Bayley- Corporate FinanceĀ
Tel:Ā + 44 (0) 207 776 6550
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Optiva Securities - (Joint Broker)
Christian Dennis
Tel:Ā + 44 (0) 203 137 1903
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Allenby Capital LimitedĀ -Ā (Financial Adviser)
Nick Harriss
Nick Athanas
Tel:Ā + 44 (0) 203 328 5656
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Notes to Editors:Ā
Zenith Energy Ltd. is an international oil and gas production company, dual listed on the TSX Venture Exchange and London Stock Exchange.Ā
The Company operates the largest onshore oilfield in Azerbaijan following the signing of a 25-year REDPSA, (Rehabilitation, Exploration, Development and Production Sharing Agreement), with SOCAR, State Oil Company of the Azerbaijan Republic, in 2016.Ā
The Company's primary focus is the development of its Azerbaijan operations by leveraging its technical expertise and financial resources to maximise low-cost oil production via a systematic field rehabilitation programme intended to achieve significantly increased revenue. 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, natural gas condensate and electricity.
Zenith's development strategy is to identify and rapidly seize value-accretive hydrocarbon production opportunities in the onshore oil & gas sector. The Company's Board of Directors and senior management team have the experience and technical expertise to develop the Company successfully.
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NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEMĀ
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| 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 OfficerĀ & PresidentĀ Ā | |
| 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 Ā | |
| 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 | |
| Ā | Identification code | CA98936C1068 | |
| b) | Nature of the transaction | Purchase of Common Shares | |
| c) | Price(s) and volumes(s) | Price(s) | Volume(s) |
| Ā£0.0340 | 970,000 | ||
| Ā | Ā | Ā£0.0344 | 150,000 |
| d) | Aggregated information | Ā | |
| Ā | Aggregated volume | Ā 1,120,000 | |
| Ā | Aggregated price | Ā Ā£0.0341 | |
| e) | Date of the transaction(s) | Ā September 24, 2018 | |
| f) | Place of the transaction | London Stock ExchangeĀ Ā | |
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