30 Dec 2020 07:15
December 30, 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")
Granting of Stock Options
Zenith Energy Ltd. ("Zenith" or the "Company") (LSE: ZEN; OSE: ZENA), the listed international oil & gas production company focused on pursuing African development opportunities, is pleased to announce that it has granted a total of 50,000,000 stock options (the "Options") to certain Directors and employees of the Company in accordance with the Company's Stock Option Plan.
The Options will have an exercise price of NOK 0.20 per Option (approximately £0.017), a premium of approximately 30% to yesterday's closing price on the Euronext Growth of the Oslo Stock Exchange. The Options are fully vested and have the duration of five years from the date of granting.
Andrea Cattaneo, Chief Executive Officer of Zenith, commented:
"The granting of the Options is an unequivocal confirmation of the strong belief the Company's Board and Management maintain in Zenith's ability to successfully achieve its development goals.
We are pleased with our recent market performance following the achievement of a very important initial milestone in the form of the Company's successful bid for the Tilapia II licence in the Republic of the Congo. Our hope and expectation is that this has signalled the beginning of a period of sustained growth and value creation for Zenith shareholders as we deliver on our objectives."
Further Information:
Zenith Energy Ltd |
|
Andrea Cattaneo, Chief Executive Officer | Tel: +1 (587) 315 9031 |
| E-mail: info@zenithenergy.ca |
Allenby Capital Limited - Financial Adviser & Broker |
|
Nick Harriss Nick Athanas | Tel: + 44 (0) 203 328 5656 |
Notes to Editors:
Zenith Energy Ltd. is an international oil and gas production company, listed on the London Stock Exchange (LSE:ZEN) and the Euronext Growth Market of the Oslo Stock Exchange (OSE:ZENA).
Zenith's development strategy is to identify and rapidly seize value-accretive hydrocarbon production opportunities in the onshore oil & gas sector, specifically in Africa. The Company's board of directors and senior management team have the experience and technical expertise to develop the Company successfully.
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 |
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a) | Name | Andrea Cattaneo |
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2 | Reason for the notification |
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a) | Position/status | Chief Executive Officer & President |
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b) | Initial notification/Amendment | Initial Notification |
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3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a) | Name | Zenith Energy Ltd. |
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b) | LEI | 213800AYTYOYD61S4569 |
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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 |
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a) | Description of the financial instrument, type of instrument |
Common Shares of No Par Value
|
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| Identification code | CA98936C1068 |
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b) | Nature of the transaction | Grant of Stock Options |
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c) | Price(s) and volumes(s) | Price(s) | Volume(s) |
|
NOK 0.20 | 20,000,002 |
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d) | Date of the transaction(s) | December 30, 2020 |
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e) | Place of the transaction | Off Market |
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1 | Details of the person discharging managerial responsibilities / person closely associated |
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a) | Name | Luca Benedetto |
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2 | Reason for the notification |
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a) | Position/status | Chief Financial Officer, Executive Director |
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b) | Initial notification/Amendment | Initial Notification |
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3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a) | Name | Zenith Energy Ltd. |
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b) | LEI | 213800AYTYOYD61S4569 |
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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 of No Par Value
|
| |
| Identification code | CA98936C1068 |
| |
b) | Nature of the transaction | Grant of Stock Options |
| |
c) | Price(s) and volumes(s) | Price(s) | Volume(s) |
|
NOK 0.20 | 4,285,714 |
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d) | Date of the transaction(s) | December 30, 2020 |
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e) | Place of the transaction | Off Market |
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1 | Details of the person discharging managerial responsibilities / person closely associated |
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a) | Name | Dario Sodero |
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2 | Reason for the notification |
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a) | Position/status | Non-Executive Director |
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b) | Initial notification/Amendment | Initial Notification |
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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 of No Par Value
|
| |
| Identification code | CA98936C1068 |
| |
b) | Nature of the transaction | Grant of Stock Options |
| |
c) | Price(s) and volumes(s) | Price(s) | Volume(s) |
|
NOK 0.20 | 4,285,714 |
| ||
d) | Date of the transaction(s) | December 30, 2020 |
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e) | Place of the transaction | Off Market |
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1 | Details of the person discharging managerial responsibilities / person closely associated |
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a) | Name | Luigi Regis Milano |
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2 | Reason for the notification |
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a) | Position/status | Executive Director |
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b) | Initial notification/Amendment | Initial Notification |
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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 of No Par Value
|
| |
| Identification code | CA98936C1068 |
| |
b) | Nature of the transaction | Grant of Stock Options |
| |
c) | Price(s) and volumes(s) | Price(s) | Volume(s) |
|
NOK 0.20 | 4,285,714 |
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d) | Date of the transaction(s) | December 30, 2020 |
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e) | Place of the transaction | Off Market |
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1 | Details of the person discharging managerial responsibilities / person closely associated |
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a) | Name | Sergey Borovskiy |
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2 | Reason for the notification |
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a) | Position/status | Non-Executive Director |
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b) | Initial notification/Amendment | Initial Notification |
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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 of No Par Value
|
| |
| Identification code | CA98936C1068 |
| |
b) | Nature of the transaction | Grant of Stock Options |
| |
c) | Price(s) and volumes(s) | Price(s) | Volume(s) |
|
NOK 0.20 | 4,285,714 |
| ||
d) | Date of the transaction(s) | December 30, 2020 |
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e) | Place of the transaction | Off Market |
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1 | Details of the person discharging managerial responsibilities / person closely associated |
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a) | Name | José Ramón López-Portillo |
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2 | Reason for the notification |
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a) | Position/status | Non-Executive Director |
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b) | Initial notification/Amendment | Initial Notification |
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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 of No Par Value
|
| |
| Identification code | CA98936C1068 |
| |
b) | Nature of the transaction | Grant of Stock Options |
| |
c) | Price(s) and volumes(s) | Price(s) | Volume(s) |
|
NOK 0.20 | 4,285,714 |
| ||
d) | Date of the transaction(s) | December 30, 2020 |
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e) | Place of the transaction | Off Market |
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1 | Details of the person discharging managerial responsibilities / person closely associated |
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a) | Name | Erik Sture Larre |
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2 | Reason for the notification |
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a) | Position/status | Non-Executive Director |
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b) | Initial notification/Amendment | Initial Notification |
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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 of No Par Value
|
| |
| Identification code | CA98936C1068 |
| |
b) | Nature of the transaction | Grant of Stock Options |
| |
c) | Price(s) and volumes(s) | Price(s) | Volume(s) |
|
NOK 0.20 | 4,285,714 |
| ||
d) | Date of the transaction(s) | December 30, 2020 |
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e) | Place of the transaction | Off Market |
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Zenith Energy (ZEN)