Zenith Energy Ltd CEO Exercises Stock Options (9034R)
September 27 2017 - 2:01AM
UK Regulatory
TIDMZEN
RNS Number : 9034R
Zenith Energy Ltd
27 September 2017
September 27, 2017
ZENITH ENERGY LTD.
("Zenith" or the "Company")
CEO Exercises Stock Options
Zenith Energy Ltd. ("Zenith" or the "Company") (LSE: ZEN; TSX.V:
ZEE) the dual listed international oil & gas production company
operating the largest onshore oilfield in Azerbaijan, is pleased to
announce that Mr. Andrea Cattaneo, Chief Executive Officer and
President of the Company, has today exercised options to purchase
1,000,000 common shares ("Common Shares") in the capital of the
Company at an exercise price (the "Option Exercise") of CAD$0.10
(approximately GBP0.06) per Common Share and a total cost of
CAD$100,000 (GBP60,407) (the "New Shares").
The Stock Options Plan (the "Options Plan") was approved by
shareholders at the Company's last AGM held on January 20,
2017.
Mr. Cattaneo has also advised the Company that he intends to
transfer 920,000 Common Shares in the capital of the company to
certain financial advisers as compensation for services provided to
Mr. Cattaneo.
An application will be made for the New Shares to be admitted to
the standard segment of the Financial Conduct Authority Official
List and to trading on the Main Market for listed securities of the
London Stock Exchange (the "Admission"). An application will also
be made for the New Common Shares to be listed on the TSX Venture
Exchange. It is expected that Admission will become effective and
unconditional dealings in the New Common Shares will begin on
October 3, 2017.
As a result of the Option Exercise, the Company's issued share
capital will comprise 129,063,146 issued and outstanding Common
Shares with one voting right per share. No shares are held in
Treasury. The total number of voting rights in the Company will
therefore be 129,063,146.
Following the Option Exercise, Mr. Cattaneo is now beneficially
interested in a total of 3,647,485 common shares in the Company,
representing 2.83 per cent of the Company's issued common share
capital, as enlarged by the issue of New Shares. Under the Options
Plan, Mr. Cattaneo remains interested in options to exercise for up
to a further 3,000,000 new common shares.
For further information, please contact
Zenith Energy Ltd.
Andrea Cattaneo
Chief Executive Officer & President
Email: info@zenithenergy.ca
Telephone: +1 (587) 315 9031
Telefax: +1 (403) 775 4474
Allenby Capital Limited - (Joint Broker)
Nick Harriss
Nick Athanas
Richard Short
Telephone: + 44 (0) 203 328 5656
Optiva Securities - (Joint Broker)
Christian Dennis
Telephone: + 44 (0) 203 137 1903
Yellow Jersey (Financial PR/IR)
Tim Thompson
Telephone: +44 (0) 203 735 8825
This information is provided by RNS
The company news service from the London Stock Exchange
END
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