RNS Number : 0658K
Zenith Energy Ltd
30 December 2020
December 30, 2020
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")
Granting of Stock Options
Zenith Energy Ltd. ("Zenith" or the "Company") (LSE: ZEN; OSE: ZENA), the listed international oil & gas production company focused on pursuing African development opportunities, is pleased to announce that it has granted a total of 50,000,000 stock options (the "Options") to certain Directors and employees of the Company in accordance with the Company's Stock Option Plan.
The Options will have an exercise price of NOK 0.20 per Option (approximately £0.017), a premium of approximately 30% to yesterday's closing price on the Euronext Growth of the Oslo Stock Exchange. The Options are fully vested and have the duration of five years from the date of granting.
Andrea Cattaneo, Chief Executive Officer of Zenith, commented:
"The granting of the Options is an unequivocal confirmation of the strong belief the Company's Board and Management maintain in Zenith's ability to successfully achieve its development goals.
We are pleased with our recent market performance following the achievement of a very important initial milestone in the form of the Company's successful bid for the Tilapia II licence in the Republic of the Congo. Our hope and expectation is that this has signalled the beginning of a period of sustained growth and value creation for Zenith shareholders as we deliver on our objectives."
Further Information:
Zenith Energy Ltd
Andrea Cattaneo, Chief Executive Officer
Tel: +1 (587) 315 9031
E-mail: info@zenithenergy.ca
Allenby Capital Limited - Financial Adviser & Broker
Nick Harriss Nick Athanas
Tel: + 44 (0) 203 328 5656
Notes to Editors:
Zenith Energy Ltd. is an international oil and gas production company, listed on the London Stock Exchange (LSE:ZEN) and the Euronext Growth Market of the Oslo Stock Exchange (OSE:ZENA).
Zenith's development strategy is to identify and rapidly seize value-accretive hydrocarbon production opportunities in the onshore oil & gas sector, specifically in Africa. 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 of No Par Value
Identification code
CA98936C1068
b)
Nature of the transaction
Grant of Stock Options
c)
Price(s) and volumes(s)
Price(s)
Volume(s)
NOK 0.20
20,000,002
d)
Date of the transaction(s)
December 30, 2020
e)
Place of the transaction
Off Market
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Luca Benedetto
2
Reason for the notification
a)
Position/status
Chief Financial Officer, Executive Director
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 of No Par Value
Identification code
CA98936C1068
b)
Nature of the transaction
Grant of Stock Options
c)
Price(s) and volumes(s)
Price(s)
Volume(s)
NOK 0.20
4,285,714
d)
Date of the transaction(s)
December 30, 2020
e)
Place of the transaction
Off Market
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Dario Sodero
2
Reason for the notification
a)
Position/status
Non-Executive Director
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 of No Par Value
Identification code
CA98936C1068
b)
Nature of the transaction
Grant of Stock Options
c)
Price(s) and volumes(s)
Price(s)
Volume(s)
NOK 0.20
4,285,714
d)
Date of the transaction(s)
December 30, 2020
e)
Place of the transaction
Off Market
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Luigi Regis Milano
2
Reason for the notification
a)
Position/status
Executive Director
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 of No Par Value
Identification code
CA98936C1068
b)
Nature of the transaction
Grant of Stock Options
c)
Price(s) and volumes(s)
Price(s)
Volume(s)
NOK 0.20
4,285,714
d)
Date of the transaction(s)
December 30, 2020
e)
Place of the transaction
Off Market
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Sergey Borovskiy
2
Reason for the notification
a)
Position/status
Non-Executive Director
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 of No Par Value
Identification code
CA98936C1068
b)
Nature of the transaction
Grant of Stock Options
c)
Price(s) and volumes(s)
Price(s)
Volume(s)
NOK 0.20
4,285,714
d)
Date of the transaction(s)
December 30, 2020
e)
Place of the transaction
Off Market
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
José Ramón López-Portillo
2
Reason for the notification
a)
Position/status
Non-Executive Director
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 of No Par Value
Identification code
CA98936C1068
b)
Nature of the transaction
Grant of Stock Options
c)
Price(s) and volumes(s)
Price(s)
Volume(s)
NOK 0.20
4,285,714
d)
Date of the transaction(s)
December 30, 2020
e)
Place of the transaction
Off Market
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Erik Sture Larre
2
Reason for the notification
a)
Position/status
Non-Executive Director
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 of No Par Value
Identification code
CA98936C1068
b)
Nature of the transaction
Grant of Stock Options
c)
Price(s) and volumes(s)
Price(s)
Volume(s)
NOK 0.20
4,285,714
d)
Date of the transaction(s)
December 30, 2020
e)
Place of the transaction
Off Market
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