TIDMZEN
RNS Number : 2590S
Zenith Energy Ltd
12 November 2021
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INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, AUSTRALIA,
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ANNOUNCEMENT
November 12, 2021
ZENITH ENERGY LTD.
("Zenith" or the "Company")
Publication of UK Prospectus
Zenith Energy Ltd. ("Zenith" or the "Company") (LSE: ZEN; OSE:
ZENA), a company focused on building a production and development
portfolio in Africa, is pleased to announce that it has received
approval from the UK Financial Conduct Authority ("FCA") for
publication of a UK prospectus document (the "Prospectus").
The Company previously issued regulatory announcements updating
the market on the approval process on May 18, 2021, and July 12,
2021.
The Prospectus is being filed on the National Storage Mechanism
and is available for download on the Company's website (
www.zenithenergy.ca ).
The Prospectus, which includes full details of the Company's
activities and planned near-term development, has been produced to
enable admission for a total of 1,467,751,863 common shares of no
par value in the capital of the Company ("Common Shares") to the
standard segment of the FCA Official List and to trading on the
London Stock Exchange ("LSE") Main Market for listed securities
("Admission").
The Admission consists of the following three elements:
-- The 272,727,273 new common shares announced on November 2,
2021, from a successful subscription for GBP3m (the "Subscription
Shares").
-- 1,086,842,772 common shares (the "Admission Shares"),
representing the Company's share capital that had previously been
issued and traded on Euronext Growth Market of the Oslo Børs but
not admitted for trading on the LSE Main Market for listed
securities and on the standard segment of the FCA Official
List.
-- The Company has also issued a total of 108,181,8181 new
Common Shares in settlement of liabilities as set out below
(collectively the "Capitalisation Shares").
The Capitalisation shares are made up of 8,181,818 new Common
Shares at issue price of price of GBP0.011 (equivalent to
approximately NOK 0.13) in full and final settlement of an existing
liability of GBP90,000. In addition, Zenith has agreed to issue a
further 100,000,000 new Common Shares at an issue price of EUR0.01
to Winance in full and final settlement of the EUR1m currently
outstanding in respect of the loan facility announced on May 26,
2021. The 108,181,818 Capitalisation Shares will be issued fully
paid at Admission.
Applications for Admission have been made to both the FCA and
LSE and is expected to take place at 8:00 AM GMT on November 17,
2021.
Total Voting Rights
The Company wishes to announce, in accordance with the UK
Financial Conduct Authority's Disclosure Guidance and Transparency
Rules, as well as section 3.10 of the Euronext Growth Oslo Rule
Book Part II , the following revised Total Voting Rights
information from Admission :
Class of share Total number Number Total number of
of shares of voting voting rights per
rights class of share
per share
Common Shares in issue
and admitted to trading
on the Main Market
of the London Stock
Exchange. 1,792,574,449 1 1,792,574,449
--------------- ------------ --------------------
Common Shares in issue
and admitted to trading
on the Euronext Growth
Market of the Oslo
Børs 1,792,574,449 1 1,792,574,449
--------------- ------------ --------------------
Zenith would also wish to underline that an error has been
identified regarding the Company's previous reporting on the number
of common shares admitted to trading on the London Stock Exchange
Main Market for listed securities and on the standard segment of
the FCA Official List. The correct value is 324,822,586 (applicable
until Admission), instead of 313,400,824, previously reported in
the Company's past total voting rights announcements.
Market Abuse Regulation (MAR) Disclosure
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 as it forms part of
UK domestic law by virtue of the European Union (Withdrawal) Act
2018 ("MAR"). Upon the publication of this announcement via a
Regulatory Information Service ("RIS"), this inside information is
now considered to be in the public domain.
Further Information:
Zenith Energy Ltd Tel: +1 (587) 315 9031
Andrea Cattaneo, Chief Executive E: info@zenithenergy.ca
Officer
Allenby Capital Limited - Financial Tel: + 44 (0) 203 328 5656
Adviser & Broker
Nick Harriss
Nick Athanas
------------------------------
Celicourt Communications (Financial Tel: +44 (0) 208 434 2643
PR) E: zenithenergy@celicourt.uk
Mark Antelme
Jimmy Lea
------------------------------
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
complete value-accretive hydrocarbon production opportunities in
the oil & gas sector, specifically in Africa.
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END
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