ZENA - Emisjon

Furuen
ZENA 27.02.2023 kl 22:06 54937

https://newsweb.oslobors.no/message/583710

Institutional investment in Zenith

February 27, 2023
ZENITH ENERGY LTD.

("Zenith" or the "Company")

Institutional investment in Zenith

Zenith Energy Ltd. (LSE: ZEN; OSE: ZENA), the energy company with proven revenue generating production, exploration and development assets in Africa, the Middle East and Europe, is pleased to announce that it has completed a fundraise in the United Kingdom (the "UK Financing"), and in Norway (the "Norwegian Financing", collectively, the "Financings").

The Financings have attracted the participation of existing institutional investors, including Premier Miton Investors, as well as Directors and employees of the Company, to raise an aggregate total amount of approximately £2,300,000 or NOK 28,484,580, resulting in the issuance of 437,728,088 new common shares.

Issue Price

The issue price of the Financings was £0.0054 for the UK Financing and NOK 0.067 for the Norwegian Financing.

Use of Proceeds

The proceeds of the Financings will be used to provide additional funding for the following:

• Negotiation and planned finalisation of a Production Sharing Contract for Block 1, Sèmè oilfield in Benin
• Technical and managerial appointments in view of planned operations in Yemen
• Additional funding for the development of Zenith’s Tunisian oil and Italian natural gas production portfolio
• Business development activities in Africa and the Middle East
• General working capital

Norwegian Financing

Zenith has issued a total of 378,931,792 new common shares of no-par value in the capital of the Company (“Norwegian Financing Common Shares"), to be admitted to trading on the Euronext Growth Oslo (the "Norwegian Financing Admission”) raising gross proceeds of NOK 25,388,430 (approximately £2,050,000).

An application for the Norwegian Financing Common Shares to also be listed on the standard segment of the FCA Official List and to be admitted for trading on the London Stock Exchange Main Market for listed securities will be made within 12 months of the issue of the Norwegian Financing Common Shares.

The Norwegian Financing Common Shares will rank pari passu in all respects with the existing common shares of the Company.

The Company has issued 113,679,538 share purchase warrants exercisable at a price NOK 0.094 for a duration of 3 years from the date of issue in connection with the Norwegian Financing.


UK Financing

Zenith has issued a total of 46,296,296 common shares of no-par value in the capital of the Company on the London Stock Exchange (the "UK Financing Common Shares") to raise gross proceeds of £250,000 (approximately NOK 3,096,150).

An application will be made for the UK Financing Common Shares to be listed on the standard segment of the FCA Official List and to be admitted for trading on the London Stock Exchange Main Market for listed securities (the "UK Financing Admission").

It is expected that the UK Financing Admission will become effective and that unconditional dealings in the UK Financing Common Shares will commence on or around 8.00 a.m. (GMT) on approximately March 3, 2023.

An application will also be made for the UK Financing Shares to be admitted to trading on the Euronext Growth Oslo.
The UK Financing Shares will rank pari passu in all respects with the existing common shares of the Company.

The Company has issued 13,888,889 share purchase warrants exercisable at a price £0.0076 for a duration of 3 years from the date of issue in connection with the UK Financing.

Debt Settlement

The Company has allotted 12,500,000 Common Shares (“Debt Settlement Shares”) to a service provider in lieu of cash settlement for services provided to Zenith for a total value of £67,500.

An application will be made for the Debt Settlement Shares to be listed on the standard segment of the FCA Official List and to be admitted for trading on the London Stock Exchange Main Market for listed securities (the "Debt Settlement Admission"). An application will also be made for the Debt Settlement Shares to be admitted to trading on the Euronext Growth Oslo.

The Debt Settlement Shares will rank pari passu in all respects with the existing common shares of the Company.
It is expected that the Debt Settlement Admission will become effective and that unconditional dealings in the Debt Settlement Shares will commence on or around 8.00 a.m. (GMT) on approximately March 3, 2023.

Director Dealing/ PDMR Shareholding

Mr. Andrea Cattaneo, Chief Executive Officer & President of Zenith, has subscribed for 64,695,672 common shares of no-par value in the capital of the Company in connection with the Norwegian Financing.

Upon the Norwegian Financing Admission, Mr. Cattaneo will be directly beneficially interested in a total of 167,163,912 Common Shares in the capital of the Company, representing 7.24% percent of the total issued and outstanding common share capital of the Company.

Mr. Luca Benedetto, Chief Financial Officer of Zenith has subscribed for 27,726,716 common shares of no-par value in the capital of the Company in connection with the Norwegian Financing.

Upon the Norwegian Financing Admission, Mr. Benedetto will be directly beneficially interested in a total of 27,726,716 common shares in the capital of the Company, representing 1.20% percent of the total issued and outstanding common share capital of the Company.

Total Voting Rights

The Company wishes to announce, in accordance with the Financial Conduct Authority's Disclosure Guidance and Transparency Rules and section 3.10 of the Euronext Growth Oslo Rule Book Part II, the following revised information resulting from completion of the Financings.

Class of share
Total number of shares
Number of voting rights per share
Total number of voting rights per class of share

Common Shares in issue and admitted to trading on the Main Market of the London Stock Exchange upon the UK Financing Admission. 1,931,370,745 1 1,931,370,745
Common Shares in issue and admitted to trading on the Euronext Growth Market of the Oslo Børs, representing the newly enlarged outstanding share capital of the Company.
2,310,302,537 1 2,310,302,537

Andrea Cattaneo, Chief Executive Officer, commented:

“We are pleased to have attracted the continued support of long-term institutional investors, including Premier Miton, to the fundraise.

Our confidence in the Company’s future successful development remains unchanged and is evidenced by the material commitment made by management to the fundraise.

There are various potentially transformational value catalysts during the course of 2023. To this end, the Zenith team is working tirelessly towards successfully achieving our objectives for the benefit of all shareholders.”
Redigert 27.02.2023 kl 22:07 Du må logge inn for å svare
Andpaal71
07.03.2023 kl 09:18 4432

tsu for all skrev Åpner på 0,08 minst
Fantastisk! Du er den nye guruen her! Takk for dine kloke ord og dype analyser!
Slettet bruker
07.03.2023 kl 09:26 4453

tsu for all skrev Åpner på 0,08 minst
Det er en dårlig ide å låne krystallkula til en annen her inne ..
Viking_I
07.03.2023 kl 09:38 4443

Desperation after selling trying to take course down to buy cheap............................. Remember 15 march for Benin and Yemen anytime soon
There are many in line to fill it up with cheap price.
Redigert 07.03.2023 kl 09:39 Du må logge inn for å svare
Viking_I
07.03.2023 kl 09:51 4417

buy as much as below 0.065 in next 5 days target first sell order to make robot empty...........current is 0.0644 ............you can buy upto 2 million on that price......
Redigert 07.03.2023 kl 10:16 Du må logge inn for å svare
Furuen
07.03.2023 kl 10:06 4393

OMG
Viking_I
07.03.2023 kl 10:37 4317

Downturn is secured now ...................there will be no downturn until any new negative message......................(hope so there is no new negative message)
Redigert 07.03.2023 kl 10:37 Du må logge inn for å svare
Viking_I
07.03.2023 kl 12:18 4203

Dated 17 Feb .......but confirming that deal will go through more than 18 days gone so expecting news any time. OMV eager to go out....................
hidden order to sell at 0.0664 -100K around 3million
Redigert 07.03.2023 kl 12:23 Du må logge inn for å svare
Konjagi
07.03.2023 kl 12:34 4166

Du hørte nok feil at nevnte Tunisia, men derimot Nigeria, som har ledige ressurser og utstyr grunnet nedstenging og utfordringer med terror
keisam
07.03.2023 kl 13:30 4074

Forsto det slik jeg også, Nigeria med ledige ressurser.

Selgersiden opptrer fortiden disiplinert og forhåpentligvis er bunnen nådd for denne gangen.
Viking_I
07.03.2023 kl 14:19 4090

large hidden order to buy at 0.0651 100k
Konjagi
07.03.2023 kl 14:25 4109

Ja, tilsynelatende kan dette være bunnen for øyeblikket.
Håper AC ikke kommer med flere negative "bomber" på en stund
Viking_I
07.03.2023 kl 14:32 4107

as syndicate stop selling there must be news coming soon .............they always have insider info ............
Konjagi
08.03.2023 kl 09:11 3655

Har sjekket situasjonen endel dager for hvordan salg/kjøp forholdet er ved åpning av børs.
Ser at det legges inn forholdsvis store salgsposter, for å begrense oppgangen i starten, for å få ned kjøpepresset.
Algoen settes så igang, for å herje med kursen, ned og opp. Trading foregår på denne måten hver eneste dag.

Denne kommer aldri til å stige på forventninger, er kun avhengige av virkelige positive avtaler, signerte og godkjente av alle parter
Redigert 08.03.2023 kl 09:13 Du må logge inn for å svare
Viking_I
08.03.2023 kl 10:03 3542

remember this ................syndicate knows news is coming
oil sale .............kr 0.1
next news if Yemen ...........kr 0.25............ within year kr 0.5 uptp kr 1.79
If Benin comes .................kr 0.2 ..............after production starts kr 1 to kr 2.5

buy upto 0.07 before news come ...........Tunisia and Italy supports share price upto kr 0.15
Redigert 08.03.2023 kl 10:22 Du må logge inn for å svare
Furuen
08.03.2023 kl 10:55 3466

Det hadde jo vært veldig kjekt om de hadde solgt litt olje i stedet for å bare skrive ut nye aksjer.
Viking_I
08.03.2023 kl 11:08 3450

he want to buy cheap also reduce free float.............
Sia
08.03.2023 kl 11:29 3409

Enig, men ingen har oversikt over hva vi eier av olje og AC er stille som en østers dessverre.
Viking_I
08.03.2023 kl 11:58 3363

Reason behind the cheap buy from investor/AC following warrants expiring on Friday
Warrants------06-Dec-21-------85,000,000------kr 0.25------10.03.2023
Warrants------17.03.2022------85,000,000------kr 0.20------10.03.2023

Also there is go through confirmation in Yemen reason behind CFO entry ...........
Redigert 08.03.2023 kl 12:03 Du må logge inn for å svare
Slettet bruker
08.03.2023 kl 13:07 3271

Frem til desember i fjor (2022) ble ETAP sin
nettsider oppdatert ukentlig med hvor olje som var produsert fra diverse steder i Tunisia

Det har stoppet opp og svært få vet hvorfor.
Hva som skjer i Tunisia er ett godt spørsmål

Viking_I
08.03.2023 kl 14:52 3151

Large hidden order to buy at 0.0660
jantt
08.03.2023 kl 17:54 2989

alle dine hidden order hvad vil du bruge dem til ?
Galv
08.03.2023 kl 18:26 2955

Jantt

Det vi ser ved stengetid nå er veldig lite aksjer opp til 11.5 øre.
Det kan tenkes nyheter rett rundt svingen - hold ut til påske seier viking.💵🏦🛢
Konjagi
08.03.2023 kl 20:46 2808

Er nok dessverre svært uoversiktlig og lite som fungerer både politisk og innen statlige selskaper i landet for tiden. ETAP er det statlige oljeselskap og er majoritetseier i de fleste større lisenser. Uten info derfra finnes det ikke annen informasjon. (Som jeg kjenner til)

Men, når det er sagt kan vi kanskje tro at de 2 lisensene vi kjøpte 100% fra Ecumed, og som produserer ca 100 fat i døgnet, skulle være under Zenith Energy kontroll. Om dette er tilfelle, bør det være i størrelsesorden 35000 fat produsert siden forrige salg?
Konjagi
09.03.2023 kl 09:23 2510

Der kom computeren igang igjen...litt treg i dag
Viking_I
09.03.2023 kl 09:25 2523

Oil worth 15 million with Zenith in current date ......expecting $8 million profit to zenith at March 2023 at march end if they they sell oil before it. Also €3.0 million profit form Italian production.
Viking_I
09.03.2023 kl 09:26 2751

3 million hidden order to buy popup 0.0651 -5000 he will buy every thing puts above this order.
Redigert 09.03.2023 kl 09:40 Du må logge inn for å svare
HighAndLow
09.03.2023 kl 09:39 2723

Viking_I, er 3 millioner et tenkt tall på den skjulte kjøpsordren eller hvordan kan du vite dette dette med sikkerhet?
Viking_I
09.03.2023 kl 09:44 2713

its all math's and AI, All hidden orders give traces..................
see it now at 0.0653
Redigert 09.03.2023 kl 09:49 Du må logge inn for å svare
Viking_I
09.03.2023 kl 10:14 2671

If someone is in filling mode don't disturb them .............Remember 15th March is near Benin 90 days to finalize PSC ..........
Government not bound to when company is inform to market but 90 days stars from start form the day bidder is finalizes and inform to him.
Redigert 09.03.2023 kl 10:36 Du må logge inn for å svare
Viking_I
09.03.2023 kl 14:09 2463

After last Financing Free float reduce form 88% to 71.84% means 650,482,519 shares is locked. Total shares is 2,310,302,537.
AC made substantial increase also CFO too.
There is very few shares in UK London market as compare to Oslo market.
There will be big movement in UK market after Yemen news.

Grab as much as possible upto 0.07 before next week
Redigert 09.03.2023 kl 14:23 Du må logge inn for å svare
olje
09.03.2023 kl 14:34 2440

Jepp...grab grab.. nam nam..
Furuen
09.03.2023 kl 16:22 2324

Korrekt, men slikt betyr ikke så mye for spåmannen vår.
Barneskirenn
09.03.2023 kl 16:34 2305

Mail/svar 11:39, 09.03.23 (i dag):

"Dear Mr.,

Thank you for your email.

At the moment we are in a sales process of our subsidiary OMV Yemen and have reached an agreement with Zenith Energy. The process has been implemented in full compliance with the applicable regulation as well as in close communication with the Ministry of Oil. Completion of the acquisition is subject to the approval by the Ministry of Oil. As this process is not closed yet, we cannot comment any further. We hope for your understanding."

Kind regards,
Investor Relations
OMV Aktiengesellschaft
Trabrennstraße 6-8
1020 Vienna, Austria
Tel.: +43 1 40440-21600
E-Mail: investor.relations@omv.com
Viking_I
09.03.2023 kl 16:38 2314

90 days from 15th Dec not from 15th Jan.

90 days from 15th sep for offer submission to announcement.
On 15th Dec Benin Govts inform Zenith and zenith informed market on 10th Jan.
Redigert 09.03.2023 kl 16:45 Du må logge inn for å svare
Barneskirenn
09.03.2023 kl 17:52 2201

Et annet selskap som holder på med fornyelse av sin lisens i Benin. Også med frist i mars av hva jeg så.
Elephant Oil, Block B.
Furuen
09.03.2023 kl 18:04 2189

Hvor har du 15. desember fra? Dersom Zenith fikk vite om eksklusiviteten 15. desember, så ville de vel ikke ventet til 10. januar med å offentliggjøre det? Det ville i så fall ha brutt med aksjereglene. Slike nyheter skal aksjonærene få vite om straks.