Zenith Energy Ltd CEO Exercises Stock Options (3243X)
23 November 2017 - 6:01PM
UK Regulatory
TIDMZEN
RNS Number : 3243X
Zenith Energy Ltd
23 November 2017
November 23, 2017
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")
CEO Exercises Stock Options
Zenith Energy Ltd. ("Zenith" or the "Company") (LSE: ZEN; TSX.V:
ZEE) the dual listed international oil & gas production company
operating the largest onshore oilfield in Azerbaijan, is pleased to
announce that Mr. Andrea Cattaneo, Chief Executive Officer and
President of the Company, has today exercised stock options to
acquire 2,000,000 new common shares ("New Common Shares") in the
capital of the Company at an exercise price (the "Stock Options
Price") of CAD$0.10 (approximately GBP0.059) per New Common Share
and at a total cost of CAD$200,000 (approximately GBP118,000).
The Stock Options Plan (the "Plan") was approved by shareholders
at the Company's last AGM, held on January 20, 2017.
An application will be made for the New Common Shares to be
admitted to trading on the Main Market of the London Stock
Exchange, and for them to be listed on the Standard Segment of the
UK Official List ("Admission"). The New Common Shares will rank
pari passu in all respects with the existing common shares of the
Company. An application will also be made for the New Common Shares
to be listed on the TSX Venture Exchange. It is expected that
Admission will become effective and unconditional dealings in the
New Common Shares will begin on November 30, 2017.
Total Voting Rights
Following Admission of the New Common Shares, the Company will
have 141,050,119 common shares in issue, with one voting right per
share, and admitted to trading on the Main Market of the London
Stock Exchange and the Toronto Stock Exchange Venture Exchange. The
above figure 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 change to their
interest in, the share capital of the Company under the Financial
Conduct Authority's Disclosure Guidance and Transparency Rules.
Transfer of Shares
Mr. Cattaneo has also advised the Company that he intends to
transfer 1,968,500 common shares in the capital of the company to
certain financial advisers for services rendered to Mr.
Cattaneo.
As a result of these two transactions, Mr. Cattaneo will be
beneficially interested in a total of 3,370,116 common shares in
the Company, representing 2.39 per cent of the Company's issued
common share capital, as enlarged by the issue of New Common
Shares. Under the Plan, Mr. Cattaneo remains interested in stock
options to exercise up to a further 1,000,000 new common
shares.
For further information, please contact:
Zenith Energy Ltd.
Andrea Cattaneo
Chief Executive Officer
Email: info@zenithenergy.ca
Telephone: +1 (587) 315 9031
Telefax: +1 (403) 775 4474
Optiva Securities - (Joint Broker)
Christian Dennis
Telephone: + 44 (0) 203 137 1903
Beaufort Securities Limited - (Joint Broker)
Jon Belliss
Telephone: +44 207 382 8300
Allenby Capital Limited - (Financial Adviser)
Nick Harriss
Nick Athanas
Telephone: + 44 (0) 203 328 5656
Yellow Jersey (Financial PR/IR)
Tim Thompson
Telephone: +44 (0) 203 735 8825
This information is provided by RNS
The company news service from the London Stock Exchange
END
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