TIDMZEN

RNS Number : 2454L

Zenith Energy Ltd

09 September 2021

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310.

September 9, 2021

ZENITH ENERGY LTD.

("Zenith" or the "Company")

Granting of Stock Options

Zenith Energy Ltd. ("Zenith" or the "Company") (LSE: ZEN; OSE: ZENA), the listed international oil & gas production company focused on pursuing African development opportunities, is pleased to announce that it has granted a total of 13,882,232 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 0.125 per Option (approximately equivalent to GBP0.01). 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      Tel: +1 (587) 315 9031 
  Officer 
                                       E-mail: info@zenithenergy.ca 
 Allenby Capital Limited - Financial 
  Adviser & Broker 
 Nick Harriss                          Tel: + 44 (0) 203 328 5656 
  Nick Athanas 
 

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 oil & gas sector, specifically in Africa.

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                               Initial Notification 
        notification/Amendment 
      ------------------------------------  ----------------------------------------- 
 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                       Options to acquire common shares of 
        instrument,                            no par value in Zenith Energy Ltd. 
        type of 
        instrument 
      ------------------------------------  ----------------------------------------- 
       Identification                        CA98936C1068 
        code 
      ------------------------------------  ----------------------------------------- 
 b)    Nature of                             Grant of Stock Options 
        the transaction 
      ------------------------------------  ----------------------------------------- 
 c)    Price(s)                              Price(s)              Volume(s) 
        and volumes(s) 
      ------------------------------------  --------------------  ------------------- 
   NOK 
    0.125                                                          8,329,340 
  --------------------------------------------------------------  ------------------- 
 d)    Date of                               September 9, 2021 
        the transaction(s) 
      ------------------------------------  ----------------------------------------- 
 e)    Place of                               Off Market 
        the transaction 
      ------------------------------------  ----------------------------------------- 
 
 
  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                           Options to acquire common shares of 
        instrument,                                no par value in Zenith Energy Ltd. 
        type of instrument 
      ----------------------------------------  ----------------------------------------------- 
       Identification                            CA98936C1068 
        code 
      ----------------------------------------  ----------------------------------------------- 
 b)    Nature of                                 Grant of Stock Options 
        the transaction 
      ----------------------------------------  ----------------------------------------------- 
 c)    Price(s)                                  Price(s)                 Volume(s) 
        and volumes(s) 
      ----------------------------------------  -----------------------  ---------------------- 
   NOK 
    0.125                                                                 2,776,446 
  ---------------------------------------------------------------------  ---------------------- 
 d)    Date of the                               September 9, 2021 
        transaction(s) 
      ----------------------------------------  ----------------------------------------------- 
 e)    Place of                                   Off Market 
        the transaction 
      ----------------------------------------  ----------------------------------------------- 
 

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