Zenith Energy Ltd Director/PDMR Shareholding (0600X)
25 April 2019 - 4:01PM
UK Regulatory
TIDMZEN
RNS Number : 0600X
Zenith Energy Ltd
25 April 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.
April 25, 2019
ZENITH ENERGY LTD.
("Zenith" or the "Company")
Director/ PDMR Shareholding
Zenith Energy Ltd. ("Zenith" or the "Company") (LSE: ZEN; TSX.V:
ZEE; OSE: ZENA-ME) the listed international oil & gas
production company operating the largest onshore oilfield in
Azerbaijan, is pleased to announce that its Chief Executive Officer
& President, Mr. Andrea Cattaneo, has advised the Company that
he purchased 593,289 common shares of no par value ("Common
Shares") in the capital of the Company at an average price of NOK
0.37 (approximately GBP0.033) per Common Share on April 18, 2019 on
the Oslo Børs.
Following the aforementioned dealings, Mr. Cattaneo is directly
beneficially interested in a total of 20,652,911 Common Shares in
the capital of the Company, representing 8.46 per cent of the total
issued and outstanding common share capital of the Company admitted
to trading on the Main Market of the London Stock Exchange, and
representing 6.93 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 Børs.
As announced on December 15, 2017, Mr. Cattaneo is indirectly
interested in a total of 1,250,000 Common Shares, today
representing 0.51 per cent of the Company's issued and outstanding
common share capital admitted to trading on the Main Market of the
London Stock Exchange, and representing 0.42 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 Børs.
Further information:
Zenith Energy Ltd Tel: +1 (587) 315 9031
Andrea Cattaneo, Chief Executive E-mail: info@zenithenergy.ca
Officer
-----------------------------
Optiva Securities - Joint Broker Tel: + 44 (0) 203 981
4179
-----------------------------
Christian Dennis
-----------------------------
Jonathan Brown
-----------------------------
Peterhouse Capital - Joint Broker Tel: + 44 (0) 207 469
0930
-----------------------------
Lucy Williams
-----------------------------
Charles Goodfellow
-----------------------------
Allenby Capital Limited - Financial Tel: + 44 (0) 203 328
Adviser 5656
-----------------------------
Nick Harriss
-----------------------------
Nick Athanas
-----------------------------
IFC Advisory - Financial PR & Tel: + 44 (0) 203 934
IR 6630
-----------------------------
Graham Herring
-----------------------------
Miles Nolan
-----------------------------
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 8, 2018 by Arc
Ratings, S.A.
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 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.
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
& 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 Common Shares
the financial
instrument, type
of instrument
-------------------------------- -----------------------------
Identification CA98936C1068
code
-------------------------------- -----------------------------
b) Nature of the Purchase of Common Shares
transaction
-------------------------------- -----------------------------
c) Price(s) and Price(s) Volume(s)
volumes(s)
-------------------------------- -------------- -------------
NOK 0.37 593,289
---------------------------------------------------- -------------
d) Date of the transaction(s) April 18, 2019
-------------------------------- -----------------------------
e) Place of the Oslo Stock Exchange
transaction
-------------------------------- -----------------------------
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
DSHSESSIIFUSELL
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