Result of AGM & Granting of Stock Options

RNS Number : 0307M
Zenith Energy Ltd
18 January 2021
 

January 18, 2021                                                    

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")

Result of AGM & Granting of Stock Options

Zenith Energy Ltd. ("Zenith" or the "Company") (LSEZEN; OSE: ZENA-ME),   the listed international oil & gas production company focused on pursuing African development opportunities, is pleased to announce that all resolutions presented before shareholders at its Annual General Meeting and Special Meeting ("AGM") held on January 15, 2021 have been duly passed.

 

Board Changes resulting from the AGM

 

As indicated in the information circular distributed to shareholders, Mr. Luigi Regis Milano, an Executive Director of the Company, did not stand for re-election at the AGM and retired from the Board of Directors due to ill health.

 

Mr. Erik Sture Larre, a Non-Executive Director of the Company, did not stand for re-election at the AGM and retired from the Board of Directors to concentrate on other business activities.

 

The Company wishes to thank both of the aforementioned Directors for their valuable commitment and assistance to the Company over the years.

 

Granting of Options

 

The Company has granted a total of 45,414,775 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 equiavelnt to 0.017), a premium of approximately 47% to the last closing price on the Euronext Growth of the Oslo Stock Exchange (15.01.2021). 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 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

18,165,910

 

d)

Date of the transaction(s)

January 18, 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

 

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

5,449,773

 

d)

Date of the transaction(s)

January 18, 2021

 

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

5,449,773

 

d)

Date of the transaction(s)

January 18, 2021

 

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

5,449,773

 

d)

Date of the transaction(s)

January 18, 2021

 

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

5,449,773

 

d)

Date of the transaction(s)

January 18, 2021

 

e)

Place of the transaction

 Off Market 

 

 

 

 

 

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