Zenith Energy Ltd Director/PDMR Shareholding (1834Y)
30 December 2019 - 6:00PM
UK Regulatory
TIDMZEN
RNS Number : 1834Y
Zenith Energy Ltd
30 December 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.
December 30, 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, announces that its Chief Executive Officer &
President, Mr. Andrea Cattaneo, has advised the Company that he
purchased a total of 325,000 common shares of no par value ("Common
Shares") in the capital of the Company at an average price of
GBP0.0184 (approximately CAD$0.031) per Common Share on the London
Stock Exchange, on December 27, 2019.
Following the aforementioned dealings, Mr. Cattaneo is directly
beneficially interested in a total of 35,659,115 Common Shares in
the capital of the Company, representing 7.90 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.
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 Børs.
Further Information:
Zenith Energy Ltd
Andrea Cattaneo, Chief Executive Tel: +1 (587) 315 9031
Officer
-----------------------------
E-mail: info@zenithenergy.ca
-----------------------------
Peterhouse Capital - Joint Broker Tel: + 44 (0) 207 469
0930
-----------------------------
Lucy Williams
-----------------------------
Charles Goodfellow
-----------------------------
Novum Securities Limited - Joint Tel: + 44 (0) 207 399
Broker 9400
-----------------------------
Charlie Brook-Partridge
-----------------------------
Hugh McAlister
-----------------------------
IFC Advisory Limited - Financial Tel: + 44 (0) 203 934
PR & IR 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
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)
-------------------------------------- ---------------------- ---------------
GBP0.0184 100,000
GBP0.0186 100,000
GBP0.0183 125,000
-------------------------------------------------------------------- ---------------
d) Date of the transaction(s) December 27, 2019
-------------------------------------- ---------------------------------------
e) Place of the London 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
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