12th Apr 2019 07:00
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 12, 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 a total of 450,000 common shares of no par value ("Common Shares") in the capital of the Company at a total average price of £0.0305 per Common Share.
He purchased a total of 150,000 common shares at a price of £0.0315 per Common Share on April 9, 2019, and 300,000 common shares at a total average price of £0.03 per Common Share on April 10, 2019.
Following the aforementioned dealings, Mr. Cattaneo is directly beneficially interested in a total of 20,059,622 Common Shares in the capital of the Company, representing 8.22 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 6.73 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 Officer | E-mail: [email protected] |
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 Adviser | Tel: + 44 (0) 203 328 5656 |
Nick Harriss | |
Nick Athanas | |
IFC Advisory - Financial PR & IR | Tel: + 44 (0) 203 934 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 the financial instrument, type of instrument | Common Shares | |
Identification code | CA98936C1068 | ||
b) | Nature of the transaction | Purchase of Common Shares | |
c) | Price(s) and volumes(s) | Price(s) | Volume(s) |
£0.0315 | 150,000 | ||
d) | Aggregated information | ||
Aggregated volume | 150,000 | ||
Aggregated price | £0.0315 | ||
e) | Date of the transaction(s) | April 9, 2019 | |
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 & 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 the financial instrument, type of instrument | Common Shares | |
Identification code | CA98936C1068 | ||
b) | Nature of the transaction | Purchase of Common Shares | |
c) | Price(s) and volumes(s) | Price(s) | Volume(s) |
£0.0304 | 150,000 | ||
£0.0297 | 150,000 | ||
d) | Aggregated information | ||
Aggregated volume | 300,000 | ||
Aggregated price | £0.03 | ||
e) | Date of the transaction(s) | April 10, 2019 | |
f) | Place of the transaction | London Stock Exchange
| |
Related Shares:
Zenith Energy