Utilico Insights - Jacqueline Broers assesses why Vietnam could be the darling of Asia for investors. Watch the full video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksZenith Energy Regulatory News (ZEN)

Share Price Information for Zenith Energy (ZEN)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 2.30
Bid: 2.20
Ask: 2.40
Change: 0.00 (0.00%)
Spread: 0.20 (9.091%)
Open: 0.00
High: 0.00
Low: 0.00
Prev. Close: 2.30
ZEN Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Private Placement in Norway

17 Dec 2019 07:00

RNS Number : 1157X
Zenith Energy Ltd
17 December 2019
 

December 17, 2019 

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")

Private Placement in Norway

Zenith Energy Ltd., ("Zenith" or the "Company"), (LSEZENTSX.VZEE; OSE: ZENA-ME), the international oil & gas production company, is pleased to announce a Private Placement ("Private Placement") on the Merkur Market of the Oslo Stock Exchange.

The Company has successfully raised gross proceeds of NOK 7,700,000 (approximately £638,000 or CAD$1,123,430) to subscribe for 35,000,000 common shares of no par value in the capital of the Company ("New Common Shares") at a price of NOK 0.22 per New Common Share (approximately £0.02 or CAD$0.03).

 

Payment and issue of the New Common Shares to complete the Private Placement is expected on or around December 18, 2019, and an update will be provided upon completion.

 

The Private Placement attracted strong interest from both private and institutional investors.

 

Zenith intends to use the net proceeds of the Private Placement to purchase drilling equipment and to provide additional general working capital.

 

The Private Placement is subject to approval from the TSX Venture Exchange.

 

 

Director Dealing/ PDMR Shareholding

 

Mr. Andrea Cattaneo, Chief Executive Officer & President of Zenith, has advised the Company that, in relation to the aforementioned Private Placement, he subscribed 8,500,000 common shares of no par value ("Common Shares") in the capital of the Company.

Following the aforementioned dealing, Mr. Cattaneo is directly beneficially interested in a total of 35,334,115 Common Shares in the capital of the Company, representing 7.8 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 Stock Exchange.

Mr. Cattaneo is also indirectly interested in a total of 480,000 Common Shares, today representing 0.11 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 Stock Exchange.

 

 

Total Voting Rights

The Company wishes to announce, in accordance with the Financial Conduct Authority's Disclosure Guidance and Transparency Rules, the following information following Admission of the Common Shares issued in the Placing.

 

Class of share

 

Total number of shares

 

Number of voting rights per share

 

Total number of voting rights per class of share

 

Common Shares in issue and admitted to trading on the Main Market of the London Stock Exchange

277,403,856 

1

277,403,856 

Common Shares in issue and admitted to trading on the TSXV

451,543,509 

1

451,543,509 

Common Shares in issue and admitted to trading on the Merkur Market of the Oslo Børs

451,543,509 

1

451,543,509 

No Common Shares are held in treasury. The above figure for total number of Common Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

 

 

 

 

Further Information:

Zenith Energy Ltd 

 

Andrea Cattaneo, Chief Executive Officer

Tel: +1 (587) 315 9031

E-mail: info@zenithenergy.ca

 

 

Peterhouse Capital - Joint Broker

Tel: + 44 (0) 207 469 0930

Lucy Williams

 

Charles Goodfellow

 

 

 

Novum Securities Limited - Joint Broker

Tel: + 44 (0) 207 399 9400

Charlie Brook-Partridge

 

Hugh McAlister

 

 

 

IFC Advisory Limited - Financial PR & IR

Tel: + 44 (0) 203 934 6630

Graham Herring

 

Zach Cohen

 

 

 

 

 

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. 

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, condensate and electricity.

 

 

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 & President 

 

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)

NOK 0.22

 

8,500,000

d)

Date of the transaction(s)

December 16, 2019

e)

Place of the transaction

Merkur Market, Oslo Stock Exchange

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
IOEQDLBFKLFEFBD
Date   Source Headline
20th Mar 20248:30 amRNSUpdate on Arbitrations against Republic of Tunisia
12th Mar 20245:50 pmRNSUpdate on Italian Energy Production Portfolio
11th Mar 20241:00 pmRNSPositive support for Bond Exchange Offer
1st Mar 20241:01 pmRNSUpdate on Bond Exchange Offer
22nd Feb 20242:15 pmRNSAdmission to trading of UK Financing Common Shares
13th Feb 20245:15 pmRNSCompletion of financing with institutional support
25th Jan 20247:30 amRNSBond exchange offer to investors
18th Jan 20241:40 pmRNSUpdate on United States portfolio
29th Dec 202312:02 pmRNSPublication of Half-Year Results
20th Dec 202311:50 amRNSAcquisition of Devonian Petroleum Limited
6th Dec 202311:00 amRNSICC Arbitration for SLK against Tunisia
30th Nov 202312:30 pmRNSNew Kazakhstan subsidiary and pre-contract terms
29th Nov 20239:40 amRNSICC Arbitral Tribunal awards costs
28th Nov 20237:00 amRNSMoU – South Sudan
9th Nov 202312:15 pmRNSPayment of 2026 multi-currency bond coupon
1st Nov 20239:15 amRNSICC Arbitration proceedings against ETAP
25th Oct 20232:30 pmRNSCommencement of Trading on OTCQB Venture Market
18th Oct 202311:01 amRNSSeizure on SMP's bank account
10th Oct 202311:45 amRNSAssignment of new Debt Issuer Credit Rating
4th Oct 20232:00 pmRNSAdmission to trading of Common Shares
29th Sep 202311:05 amRNSConfirmation of Debt Issuer Credit Rating
25th Sep 20236:30 pmRNSImplementation of Share Consolidation
22nd Sep 20236:30 pmRNSShare Consolidation
20th Sep 20233:50 pmRNSShare Consolidation
19th Sep 20239:45 amRNSThird MOU for oil production asset in Kazakhstan
15th Sep 20239:30 amRNSSecond MOU for oil production assets in Kazakhstan
4th Sep 202310:40 amRNSMOU and Exclusivity for asset in Kazakhstan
4th Sep 20237:00 amRNSTermination of SPA for acquisition of OMV Yemen
29th Aug 20237:00 amRNSAcquisition of US listed company
4th Aug 20235:20 pmRNSUpdate on Benin PSC
3rd Aug 202310:06 amRNSThird Acquisition in USA
2nd Aug 202312:00 pmRNSPayment of 2024 multi-currency bond coupon
31st Jul 202311:36 amRNSPublication of 2023 FY annual audited report
10th Jul 20238:15 amRNSConservative seizure of ETAP bank account
5th Jul 202311:35 amRNSSecond acquisition in USA
3rd Jul 202311:10 amRNSCourt rejects SMP’s request and awards damages
23rd Jun 20237:00 amRNSMOU with Ministry of Petroleum – South Sudan
7th Jun 20237:00 amRNSICSID Arbitration against the Republic of Tunisia
2nd Jun 20237:00 amRNSFirst Agreement for USA acquisition campaign
26th May 20238:00 amRNSStrategy Update
18th May 202312:21 pmRNSPayment of multi-currency bond coupon
17th Apr 20237:00 amRNSResult of AGM and Update on Block 1 PSC in Benin
14th Mar 20237:00 amRNSUpdate on Italian Electricity Production
10th Mar 20234:28 pmRNSChange of Auditor & Notice of AGM
6th Mar 20236:00 pmRNSHolding(s) in Company
28th Feb 20237:00 amRNSInstitutional investment in Zenith
17th Feb 20232:05 pmRNSSecond Price Monitoring Extn
17th Feb 20232:00 pmRNSPrice Monitoring Extension
17th Feb 202311:30 amRNSUpdate on Tilapia
30th Jan 20232:30 pmRNSPayment of 2024 multi-currency bond coupon

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.