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Zenith Energy
AGM Information • Jan 18, 2021
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AGM Information
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National Storage Mechanism | Additional information 
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") (LSE: ZEN; 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: [email protected] | |
| 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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