Director/PDMR Shareholding

RNS Number : 9935U
Zenith Energy Ltd
18 July 2018
 

July 18, 2018

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), the dual 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 has purchased a total of 2,460,000 common shares of no par value ("Common Shares") in the capital of the Company at a total average price of £0.0374. Mr. Cattaneo purchased a total of 460,000 Common Shares on July 16, 2018. On July 17, 2018, Mr. Cattaneo purchased a total of 2,000,000 Common Shares.

 

Following the aforementioned dealings, Mr. Cattaneo is directly beneficially interested in a total o10,486,992 Common Shares in the capital of the Company, representing 4.9 per cent of the total issued and outstanding common share capital of the Company. As announced on December 15, 2017, Mr. Cattaneo is indirectly interested in a total of 1,250,000 Common Shares, today representing 0.58 per cent of the Company's issued share capital. 

 

 

 

For further information please contact:

Zenith Energy Ltd.  

Andrea Cattaneo 

Chief Executive Officer 

E-mail: info@zenithenergy.ca

Tel: +1 (587) 315 9031

 

Vigo Communications - PR Adviser

Patrick d'Ancona

Chris McMahon 

Kate Rogucheva

Tel: +44 (0) 20 7830 9700

 

Daniel Stewart & Company Plc - (Joint Broker)

Robert Emmet- Corporate Broking

Nikhil Varghese- Corporate Finance 

Tel: + 44 (0) 207 776 6550

 

Optiva Securities - (Joint Broker)

Christian Dennis

Tel: + 44 (0) 203 137 1903

 

Allenby Capital Limited (Financial Adviser)

Nick Harriss

Nick Athanas

Tel: + 44 (0) 203 328 5656

 

 

 

 

Notes to Editors

Zenith Energy Ltd. is an international oil and gas production company, dual listed on the TSX Venture Exchange and London Stock Exchange. 

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 Azerbaijan Republic, 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, 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)

£0.0398

50,000

 

 

£0.0395

150,000

 

 

£0.0400

75,000

 

 

£0.0370

90,000

 

 

£0.0370

95,000

d)

Aggregated information

 

 

Aggregated volume

 460,000

 

Aggregated price

£0.039

e)

Date of the transaction(s)

 July 16, 2018

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)

£0.0366

50,000

 

 

£0.0366

500,000

 

 

£0.0368

450,000

 

 

£0.0372

610,000

 

 

£0.0382

390,000

d)

Aggregated information

 

 

Aggregated volume

2,000,000

 

Aggregated price

£0.037

e)

Date of the transaction(s)

 July 17, 2018

f)

Place of the transaction

London Stock Exchange 

 

 

 

 

 


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