Zenith Energy Ltd Pledging of shares by CEO as third-party guarantor (9259T)
07 July 2018 - 3:00AM
UK Regulatory
TIDMZEN
RNS Number : 9259T
Zenith Energy Ltd
06 July 2018
July 6, 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"). 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")
Pledging of shares by CEO as third-party guarantor
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,
announces that its Chief Executive Officer & President, Mr.
Andrea Cattaneo, has agreed to act as a third-party guarantor in
support of the Company. On July 5, 2018, Mr. Cattaneo pledged a
total of 4,542,187 common shares in the capital of the Company, in
which he has a direct beneficial interest, as collateral for the
two-year non-convertible loan facility signed by Zenith on May 24,
2018, and announced to the market on May 25, 2018, for a total
amount of up to US$2,000,000.
For further information please contact:
Zenith Energy Ltd.
Andrea Cattaneo
Chief Executive Officer
E-mail: info@zenithenergy.ca
Tel: +1 (587) 315 9031
Vigo Communications - PR Adviser
Patrick d'Ancona
Chris McMahon
Kate Rogucheva
Tel: +44 (0) 20 7830 9700
Daniel Stewart & Company Plc - (Joint Broker)
Robert Emmet- Corporate Broking
Nikhil Varghese- Corporate Finance
Tel: + 44 (0) 207 776 6550
Optiva Securities - (Joint Broker)
Christian Dennis
Tel: + 44 (0) 203 137 1903
Allenby Capital Limited - (Financial Adviser)
Nick Harriss
Nick Athanas
Tel: + 44 (0) 203 328 5656
Notes to Editors:
Zenith Energy Ltd. is an international oil and gas production
company, dual listed on the TSX Venture Exchange and London Stock
Exchange.
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.
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.
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 Common Shares
financial instrument,
type of instrument
-------------------------------- ----------------------------------
Identification code CA98936C1068
-------------------------------- ----------------------------------
b) Nature of the transaction Pledging of common shares,
in the capacity of third-party
guarantor, as collateral
for non-convertible loan
facility signed by the Company
on May 24, 2018. The Company
announced the signing of
the facility on May 25, 2018.
-------------------------------- ----------------------------------
c) Price(s) and volumes(s) Price(s) Volume(s)
-------------------------------- ---------------- ----------------
n/a 2,433,379
------------------------------------- ---------------- ----------------
n/a 2,108,808
------------------------------------- ---------------- ----------------
d) Aggregated information
-------------------------------- ----------------------------------
Aggregated volume 4,542,187
------------------------------------- ----------------------------------
Aggregated price n/a
------------------------------------- ----------------------------------
e) Date of the transaction(s) July 5, 2018
-------------------------------- ----------------------------------
f) Place of the transaction London 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
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