RNS Number : 4568Y
Zenith Energy Ltd
13 May 2021
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310.
May 13, 2021
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 32,571,075 stock options (the "Options") to certain Directors and an employee of the Company in accordance with the Company's Stock Option Plan.
The Options will have an exercise price of NOK 0.12 per Option (approximately
equivalent to £0.01), a premium of approximately 12% in respect of the last closing price on Euronext Growth Oslo (12.05.2021). The Options are fully vested and have the duration of five years from the date of granting.
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 oil & gas sector, specifically in Africa.
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
Options to acquire common shares of no par value in Zenith Energy Ltd.
Identification code
CA98936C1068
b)
Nature of the transaction
Grant of Stock Options
c)
Price(s) and volumes(s)
Price(s)
Volume(s)
NOK 0.12
19,542,645
d)
Date of the transaction(s)
May 12, 2021
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
Options to acquire common shares of no par value in Zenith Energy Ltd.
Identification code
CA98936C1068
b)
Nature of the transaction
Grant of Stock Options
c)
Price(s) and volumes(s)
Price(s)
Volume(s)
NOK 0.12
6,514,215
d)
Date of the transaction(s)
May 12, 2021
e)
Place of the transaction
Off Market
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