Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).

  • FEAnalytics.com
  • FEInvest.net
  • FETransmission.com
  • Investegate.co.uk
  • Trustnet.hk
  • Trustnetoffshore.com
  • Trustnetmiddleeast.com

For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.

WHAT INFORMATION DO WE COLLECT ABOUT YOU?

We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.

COOKIES

In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.

HOW WE USE INFORMATION

We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.

ACCESS TO YOUR INFORMATION AND CORRECTION

We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.

WHERE WE STORE YOUR PERSONAL DATA

The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.

CHANGES TO OUR PRIVACY POLICY

Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.

OTHER WEBSITES

Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.

CONTACT

If you want more information or have any questions or comments relating to our privacy policy please email [email protected] in the first instance.

 Information  X 
Enter a valid email address

Zenith Energy Ltd (ZEN)

  Print      Mail a friend

Monday 16 April, 2018

Zenith Energy Ltd

Update on Proposed Acquisition in Indonesia

RNS Number : 9521K
Zenith Energy Ltd
16 April 2018
 

April 16, 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")

Update on Proposed Acquisition in Indonesia

 

 

Zenith Energy Ltd., ("Zenith" or the "Company"), (LSEZENTSX.VZEE), the international oil & gas production company operating the largest onshore oilfield in Azerbaijan, is pleased to provide an update regarding its progress on the possible acquisition of an oil production asset located in Indonesia (the "Proposed Acquisition"). The Company announced on March 28, 2018, that it had entered into an exclusivity and a binding option to purchase agreement (the "Agreement") for the Proposed Acquisition.

 

 

Due Diligence on the Proposed Acquisition (the "Due Diligence")

 

The Due Diligence encompasses an evaluation of the legal, accounting, petroleum and fiscal aspects of the Proposed Acquisition. The Company announced on March 28, 2018, that it had until April 30, 2018 to undertake its Due Diligence on the Proposed Acquisition. Zenith can today announce that the Due Diligence is underway and that, in agreement with the vendor, it has extended the completion deadline for the Due Diligence to May 15, 2018.

 

 

After completing the Due Diligence, the Company has a period of 15 days to choose to exercise the binding option to complete the Proposed Acquisition (the "Option") for a total consideration of US$6,600,000 (the "Consideration"). The Consideration shall be payable as to 50 per cent., (US$3,300,000), within 7 business days of exercising the Option (the "First Payment"), and the balance, (US$3,300,000), payable by the deadline of August 31, 2018.


 

The Company will provide an update regarding the progress of the Proposed Acquisition once the Due Diligence has been completed. The Proposed Acquisition remains at an early stage and there can be no guarantee that it will be successfully completed. Completion of the Proposed Acquisition remains conditional on, inter alia, satisfactory completion of the Due Diligence, the entering into a share purchase agreement and financing of the Consideration. 

 

Completion of the Proposed Acquisition may be subject to regulatory approval from the TSXV.

 

 

Down-payment of US$100,000 (the "Deposit")

 

Andrea Cattaneo, Chief Executive Officer and President of the Company, has advised Zenith that the Deposit has been paid in full. The Company had announced on March 28, 2018, that Mr Cattaneo had agreed to make a down payment of US$100,000 by April 15, 2018. If the Company exercises the Option, then the Deposit will be offset against the First Payment, and the Company will reimburse Mr Cattaneo the US$100,000. In the event that during the Due Diligence the Company finds negative discrepancies greater than 5% of the book values stated in the Proposed Acquisition's financial statements dated February 28, 2018, then the Deposit shall be refunded to Mr Cattaneo. If the Company decides not to exercise the Option for any other reason during the Due Diligence, then Mr Cattaneo will forfeit the Deposit.

 

 

 


For further information please contact:

 

Zenith Energy Ltd.  

Andrea Cattaneo 

Chief Executive Officer 

E-mail: [email protected]

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 Toronto Stock 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.

To find out more, visit www.zenithenergy.ca or follow Zenith on Twitter @zenithenergyltd

 

 

 

 

 

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
ACQIAMJTMBBBTRP

a d v e r t i s e m e n t