ZENA - Emisjon
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.”
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
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Hektor
09.03.2023 kl 18:44
4159
Mye som skjer i Benin tydeligvis. Block A (Block 1 offshore) øst i landet ligger nærme Aje, Nigeria. Siste nytt om ADM Energy (Barracuda - OML141) er rettsak utsatt til slutten av mars. Dette feltet ligger litt lengre øst I Nigeria. Vi får se på sikt hva som skjer her også. Who knows 😀
Konjagi
09.03.2023 kl 21:08
4037
Tenker at det vil holde lenge om vi har suksess i Benin, og vi endelig får "fast fisk".
AC har ikke så mange flere sjanser til å bestå, har en egen evne til å gå knallhardt ut, med lyse utsikter og ekstreme muligheter, for så stillne helt bort, litt luften ut av ballongen tendenser.
Det koster tildels mye penger og ressurser for en liten organisasjon som Zenith, å holde på i så mange land og områder, og ikke minst vanskelige forhold. Her må Benin landes og utvikles.
Vi trenger i hvertfall ikke Nigeria, med de utfordringene de har
AC har ikke så mange flere sjanser til å bestå, har en egen evne til å gå knallhardt ut, med lyse utsikter og ekstreme muligheter, for så stillne helt bort, litt luften ut av ballongen tendenser.
Det koster tildels mye penger og ressurser for en liten organisasjon som Zenith, å holde på i så mange land og områder, og ikke minst vanskelige forhold. Her må Benin landes og utvikles.
Vi trenger i hvertfall ikke Nigeria, med de utfordringene de har
Redigert 09.03.2023 kl 21:08
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There is no such rule, also go through last IC for specific date 15th December.
Congo is still on let's wait n watch untill coming weeks.
Congo is still on let's wait n watch untill coming weeks.
Redigert 09.03.2023 kl 23:27
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Hektor
10.03.2023 kl 05:37
3857
Finner ingen dato 15 desember i forrige IC, men forventes en beslutning på 3 mnd. https://www.finansavisen.no/forum/thread/154162/view/0/0?page=1
90 days from 15th Sep .....15th December.
Hektor
10.03.2023 kl 07:17
3794
22 sep -10 januar var ganske nært.
90 dager fra 10 januar - ca 10 april
Ref RNS 10 januar. Dette lyder mer realistisk i mine tanker.
IC september:
Benin
1. What Is the timescale for the Seme field offer being accepted?
I have already mentioned about Niger’s 90 day government response policy.. This is thought to be a good idea by Benin and they are aiming to make decisions in the same timescale or even quicker. We are confident that this will be approved quickly.
90 dager fra 10 januar - ca 10 april
Ref RNS 10 januar. Dette lyder mer realistisk i mine tanker.
IC september:
Benin
1. What Is the timescale for the Seme field offer being accepted?
I have already mentioned about Niger’s 90 day government response policy.. This is thought to be a good idea by Benin and they are aiming to make decisions in the same timescale or even quicker. We are confident that this will be approved quickly.
Redigert 10.03.2023 kl 07:27
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Konjagi
10.03.2023 kl 07:58
3750
For meg betyr det svært lite om datoen er 15.mars eller 10.april.
Det som jeg frykter mest av alt, er at AC sine spådommer er altfor optimistiske (som vanlig). I IC september, antyder han jo at han antar 90 dager behandlingstid basert på Nigeria. Igjen er vi prisgitt et afrikansk statsapparat, der TTT.....
Det som jeg frykter mest av alt, er at AC sine spådommer er altfor optimistiske (som vanlig). I IC september, antyder han jo at han antar 90 dager behandlingstid basert på Nigeria. Igjen er vi prisgitt et afrikansk statsapparat, der TTT.....
There is clear written 90 days to finalizes PSC, forgot about Nigeria.
15th Sep last day of bid submission - 90 days to announcement it finish at 14th Dec - Zenith announce to market on 22nd Sep.
Zenith must got reply around 15th to 20th Dec and due to Christmas they announced around 10th Jan.
Zenith gives hint through twitter most of the time. there is a tweet about Benin around 10th Feb
https://twitter.com/zenithenergyltd/status/1623990629909905410?cxt=HHwWhIC-5fS3yYktAAAA
remember its 90 days or before too....
look like some having problem with early announcement as there money is must be another share and many oil share are down................
15th Sep last day of bid submission - 90 days to announcement it finish at 14th Dec - Zenith announce to market on 22nd Sep.
Zenith must got reply around 15th to 20th Dec and due to Christmas they announced around 10th Jan.
Zenith gives hint through twitter most of the time. there is a tweet about Benin around 10th Feb
https://twitter.com/zenithenergyltd/status/1623990629909905410?cxt=HHwWhIC-5fS3yYktAAAA
remember its 90 days or before too....
look like some having problem with early announcement as there money is must be another share and many oil share are down................
Hektor
10.03.2023 kl 08:39
3647
Her velger jeg å tro på Zenith Energy. Er vell også bare en fordel.
Redigert 10.03.2023 kl 08:40
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large hidden order for buy at 0.0651 - 20000
Expecting Benin news after 14th March .........................before Zenith Year ending ...31th march
Expecting Benin news after 14th March .........................before Zenith Year ending ...31th march
Redigert 10.03.2023 kl 11:44
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Gullit
10.03.2023 kl 12:42
3382
Øker min beholdning om noen vil selge på det nivået. Ha en fin helg folkens. Våres dager kommer
There is no change, buy cheapy at 0.0639 its robot trading
5000 both side buy and sell hidden order of 2 million
5000 both side buy and sell hidden order of 2 million
Redigert 10.03.2023 kl 13:36
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Konjagi
10.03.2023 kl 13:39
3272
Selvfølgelig har jeg tro på Zenith Energy, hvis ikke hadde jeg ikke eid en eneste aksje.
Men, har jeg tro på afrikanske myndigheter og deres holdninger til plan, fremdrift og milepæler?
Men, har jeg tro på afrikanske myndigheter og deres holdninger til plan, fremdrift og milepæler?
berntson
10.03.2023 kl 13:41
3262
Kompis første ting først, ditt ord betyr ingenting (Viking_I). Er det en som bommer 24/7 med de "skjulte" ordrene sine er det deg. Prøver å spre håp blant de lettlurte ZENA investorene, men glemmer å utpeke at kursen har falt over 50% siden du har åpna kjeften din. Litt sykt er det ikke å befinne seg i olje- og energisektoren hvor masse penger kommer inn men likevel tape penger. OBX er et av de få børsene som har vist så mye styrke og likevel taper ZENA investorer penger. Hva kommer til å skje når markedet har en korreksjon eller et kræsj? Et annet problem man lett oppdager er AC i seg selv. Tenk logisk folkens, ikke overkompliser det her. Hvis foreldra eller kjæresten eller barnet ditt hadde gitt deg et løfte på nytt og på nytt og på nytt men holder det aldri, hvorfor burde du i det hele tatt anerkjenne meningen til vedkommende neste gang. AC kommer med 100 syke løfter men holder 0 av de, NADA. Har kommet til et punkt nå hvor selv hvis noe han sier går gjennom, burde man være skeptisk til om det faktisk gikk gjennom. Så kort oppsummert, ZENA et dritt selskap med ignorante forumsmedlemmer som Viking og hadde forbauset meg om de fleste her hadde klart å komme i null tap i fremtiden..
People using robot and making money so it is having some substances in company.
Allroad18
10.03.2023 kl 14:08
3224
Skjønner frustrasjonen og ikke minst skepsisen, det har blitt lovet mye gang på gang, og det motsatte har skjedd(f eks.tap av Tilapia lisensen som det har vært snakket mye om). Jeg trodde jeg hadde et greitt snitt, men ikke nå lenger, så spørsmålet er; skal man sitte videre og i værste fall tape enda mer, eller skal man selge og komme seg vekk med de få kronene som er igjen? Men når jeg ser kursen går ned og klokka viser ettermiddag, for deretter å se på volumet, så blir jeg litt roligere med en gang. Volumet er lite og lavt, så dette tolker jeg som øretrilling blant enda mer nervøse småsparere og mengdevis med små robothandler(som forøvrig burde vært ulovlig, da jeg synes dette er useriøst og utnyttende for nervøse sjeler). Fall på små volum betyr ikke så mye, det er utrolig lite som skal til for å kjøre kursen litt ned, fall på store volum i størrelsesorden over 10 mill aksjer i slengen, da kan man begynne å bli nervøs. Jeg blir med skuta videre, om vi går ned eller seiler inn i solnedgangen med båten full av olje og lisenser, det gjenstår å se.
berntson
10.03.2023 kl 14:14
3272
Solgte 18. oktober alt jeg hadde.
Redigert 10.03.2023 kl 14:15
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kim2002
10.03.2023 kl 14:31
3341
Ingen fare. Jeg har kjøpt noen mill for å snittet ned. Har også solgt med mikroører i fortjeneste slik at total snittet er lavt.
berntson
10.03.2023 kl 16:04
3337
Gratulerer du blir blakkere dag for dag😂
Redigert 10.03.2023 kl 16:05
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Konjagi
10.03.2023 kl 16:13
3319
berntson skrev Solgte 18. oktober alt jeg hadde.
Solgte 18.okt, og så sitter du her og lirer utav deg masse sprøyt. Sier noe om deg dette.
God helg
God helg
Sia
10.03.2023 kl 16:14
3332
berntson skrev Gratulerer du blir blakkere dag for dag😂
God helg, ta en øl i sola nå;-)
berntson
10.03.2023 kl 16:22
3315
Sånn ja, flokken må samles sammen for å beskytte hverandre. God helg.
Sia
10.03.2023 kl 16:37
3273
Stemmer, og noen har ingen venner med samme interesser. Fortsatt god helg;-)
Today 5000 hidden buy order took course to 0.0603 with syndicate. 5million shares to just create panic by same guys.
he will desperately try buy with this hidden order.
remember Benin on the toe.........15th Dec 90 days.
he will desperately try buy with this hidden order.
remember Benin on the toe.........15th Dec 90 days.
Syndicate playing themselves don't disturb them
Furuen
13.03.2023 kl 10:22
2674
Mitt forslag er at vi kutter all handel og lar disse som herjer, trade med seg selv...om de finner det interessant.
Og så må Viking_I roe seg ned med alle datoene sine og alle skjulte ordrer.
Når du har spådd feil i 48 av 50 tilfeller, er det på tide å begynne å tenke seg om.
Og så må Viking_I roe seg ned med alle datoene sine og alle skjulte ordrer.
Når du har spådd feil i 48 av 50 tilfeller, er det på tide å begynne å tenke seg om.
Redigert 13.03.2023 kl 10:31
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Gullit
13.03.2023 kl 11:07
2610
Støtter deg der. Kom heller med nyttig info når du har det Viking. Man blir litt lei disse meldingene dine.
keisam
13.03.2023 kl 11:25
2542
Hvordan kan du påstå feil i 48 av 50?
Er det nå tvil om at mange av aksjene som omsettes ikke direkte omsettes gjennom Oslo Børs?
Er det nå tvil om at mange av aksjene som omsettes ikke direkte omsettes gjennom Oslo Børs?
patek5146
13.03.2023 kl 11:44
2489
En kan spekulere i om der igen er dårlige nyheder på vej når der bliver dumpet 8 millioner på en ussel 6 øre, elendig udvikling desværre
Man skulle næsten tro at alle Zeniths aktiver stod i Silicon Valley Bank🤣🤣🤣🤣🤣🤣
Man skulle næsten tro at alle Zeniths aktiver stod i Silicon Valley Bank🤣🤣🤣🤣🤣🤣
Redigert 13.03.2023 kl 11:54
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reason behind sell now ............OMV Yemen stopped oil production due to fear of clashes. as per Yemen news.
https://twitter.com/YemenEconomic/status/1634615913906307072
https://twitter.com/YemenEconomic/status/1634615913906307072
Redigert 13.03.2023 kl 12:24
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Furuen
13.03.2023 kl 12:14
2442
Har du ikke fulgt med på alt vrøvlet som Viking lirer av seg?
Redigert 13.03.2023 kl 12:14
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kim2002
13.03.2023 kl 12:45
2385
8 mill aksjer er jo microvolum, ha,ha. Hvis det er dårlige nyheter på vei ifl lekkasje så skulle vel volumet være flere hundre mill.
futureistoday
13.03.2023 kl 13:01
2342
Mon tro om ikke OMV vil bruke force majeure på og slippe forpliktelser og tvinge avtalen med zenith igjennom🤔 kan meget godt tenkes at det er det som skjer nå