TIDMZEN
RNS Number : 5706Z
Zenith Energy Ltd
15 December 2017
December 15, 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")
Director/ PDMR Shareholding
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 the following dealings undertaken by Mr. Andrea Cattaneo,
Chief Executive Officer and President of the Company.
Exercise of Share Options
On December 15, 2017, Mr. Cattaneo exercised stock options to
acquire 1,000,000 common shares of no par value ("New Shares") in
the capital of the Company at an exercise price (the "Options
Price") of CAD$0.15 (approximately GBP0.087) per New Share and at a
total cost of CAD$150,000 (approximately GBP87,000).
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 Shares to be admitted to
the standard segment of the Financial Conduct Authority UK Official
List and to trading on the Main Market for listed securities of the
London Stock Exchange (the "Admission"). The New 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 Shares to be
listed on the TSX Venture Exchange. It is expected that Admission
will become effective and unconditional dealings in the New Shares
will begin on December 22, 2017.
Total Voting Rights
Following Admission of the New Shares, the Company will have
142,450,119 common shares in issue 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. No shares are held in Treasury.
The total number of voting rights in the Company will therefore be
142,450,119.
Sale of Shares
On December 13, 2017 and December 14, 2017, Mr. Cattaneo sold a
total of 1,250,000 common shares at an average price of GBP0.08 per
share in connection with entering into a financial instrument
contract.
Entry into a Financial Instrument Contract
Mr. Cattaneo advised the Company that he had entered into a
financial spread betting instrument agreement on December 13, 2017,
acquiring indirect voting rights over the aforementioned 1,250,000
common shares.
As a result of these transactions, Mr. Cattaneo will be directly
beneficially interested in a total of 3,420,116 common shares,
representing 2.40 per cent of the Company's issued common share
capital. In addition, Mr. Cattaneo will be indirectly interested in
a total of 1,250,000 common shares, being the common shares subject
to the spread betting instrument, representing 0.88 per cent of the
Company's issued share capital.
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
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 Sale of Common
Shares
---- -------------------------------- ----------------------------
c) Price(s) and volumes(s) Price(s) Volume(s)
---- -------------------------------- ------------- -------------
GBP0.08 470000
--------------------------------------------------- -------------
d) Aggregated information N/A (single transaction)
---- -------------------------------- ----------------------------
Aggregated volume
----------------------------------------------- ------------------
Price
----------------------------------------------- ------------------
e) Date of the transaction December 13, 2017
---- -------------------------------- ----------------------------
f) Place of the transaction London Stock Exchange
---- -------------------------------- ----------------------------
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 Sale of Common
Shares
---- -------------------------------- ----------------------------
c) Price(s) and volumes(s) Price(s) Volume(s)
---- -------------------------------- ------------- -------------
GBP0.08 780000
--------------------------------------------------- -------------
d) Aggregated information N/A (single transaction)
---- -------------------------------- ----------------------------
Aggregated volume
----------------------------------------------- ------------------
Price
----------------------------------------------- ------------------
e) Date of the transaction December 14, 2017
---- -------------------------------- ----------------------------
f) Place of the transaction London Stock Exchange
---- -------------------------------- ----------------------------
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 Options exercise
---- -------------------------------- ----------------------------
c) Price(s) and volumes(s) Price(s) Volume(s)
---- -------------------------------- ------------- -------------
CAD$0.15 1000000
--------------------------------------------------- -------------
d) Aggregated information N/A (single transaction)
---- -------------------------------- ----------------------------
Aggregated volume
----------------------------------------------- ------------------
Price
----------------------------------------------- ------------------
e) Date of the transaction December 15, 2017
---- -------------------------------- ----------------------------
f) Place of the transaction Toronto Stock
Exchange
---- -------------------------------- ----------------------------
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 CFD/Spread bet
financial instrument,
type of instrument
---- -------------------------------- ----------------------------
Identification code CA98936C1068
---- -------------------------------- ----------------------------
b) Nature of the transaction Entry into a Financial
Instrument Contract
---- -------------------------------- ----------------------------
c) Price(s) and volumes(s) Price(s) Volume(s)
---- -------------------------------- ------------- -------------
GBP0.08 1250000
--------------------------------------------------- -------------
d) Aggregated information N/A (single transaction)
---- -------------------------------- ----------------------------
Aggregated volume
----------------------------------------------- ------------------
Price
----------------------------------------------- ------------------
e) Date of the transaction December 13, 2017
---- -------------------------------- ----------------------------
f) Place of the transaction London Stock Exchange
---- -------------------------------- ----------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
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