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Zenith Energy Ltd - Director/PDMR Shareholding

RNS Number : 1838F
Zenith Energy Ltd
05 March 2020
 

March 05, 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")

Director/ PDMR Shareholding

 

Zenith Energy Ltd., ("Zenith" or the "Company"), (LSEZENTSX.VZEE; OSE: ZENA-ME), the international oil & gas production company, announces that its Chief Executive Officer & President, Mr. Andrea Cattaneo, has advised the Company that he purchased a total of 1,625,000 common shares of no par value ("Common Shares") in the capital of the Company at an average price of £0.0097 (approximately CAD$0.017) per Common Share on the London Stock Exchange.

Following the aforementioned dealings, Mr. Cattaneo is directly beneficially interested in a total of 43,134,115 Common Shares in the capital of the Company, representing 7.47 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 0.08 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 Officer

Tel: +1 (587) 315 9031

                                                               

E-mail: [email protected]

 

 

Novum Securities Limited - Broker

Tel: + 44 (0) 207 399 9400

Charlie Brook-Partridge

 

Hugh McAlister

 

 

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. 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  

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)

£0.0108

£0.0100

£0.0099

£0.0094

350,000

100,000

100,000

350,000

d)

Aggregated information

 

 

Aggregated volume

900,000

 

Aggregated price

£0.0101

e)

Date of the transaction(s)

March 2, 2020

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 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)

£0.0094

£0.0093

325,000

125,000

d)

Aggregated information

 

 

Aggregated volume

450,000

 

Aggregated price

£0.0093

e)

Date of the transaction(s)

March 3, 2020

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 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)

£0.0091

275,000

d)

Aggregated information

 

 

Aggregated volume

n/a

 

Aggregated price

n/a

e)

Date of the transaction(s)

March 4, 2020

f)

Place of the transaction

London Stock Exchange 

 


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 [email protected] or visit www.rns.com.
 
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Quick facts: Zenith Energy Ltd

Price: 0.8

Market: LSE
Market Cap: £5.66 m
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