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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olje
22.03.2023 kl 10:13
6883
Hvordan kan de ha tid til å få til noe som helst når de bruker den på å skrive sykt detaljerte rapporter på hundrevis av sider....fint det men få landet noe håndfast nå da!
Viking_I
22.03.2023 kl 10:32
6794
Look like you are not good in reading report ....................negative thinkers not always gives balance advice.
There are many new things in report specially clarification about Tunisia which was main concern form shareholders,
Planned Oil sale message form Tunisia Company change everything.
There are many new things in report specially clarification about Tunisia which was main concern form shareholders,
Planned Oil sale message form Tunisia Company change everything.
Redigert 22.03.2023 kl 10:34
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keisam
22.03.2023 kl 10:51
6755
Ja, det blir stadig vanskeligere å lese, tolke og forstå rapporter. Alltid mange som vil sminke grisen. Er positivt at Zena har stålkontroll på å øke med 500 fat hvis de bruker 35 mill i El-Bibane. Robbana bør raskest mulig utnyttes. Zena har enkelt kunne produser over 1000 fat i Tunisia. Bruk 40 mill i Italia og produksjon har blitt mye større. Zena kan styre dette som de selv vil på mange lokasjoner.
HighAndLow
22.03.2023 kl 12:19
6626
Skjult ordre på 5 millioner aksjer er svært sjelden. Viking_I, hvordan klarer du alltid å sitte på fasiten?
Galv
22.03.2023 kl 12:28
6593
Highandlow
The er ingen tvil de skjulte ordren viking snakker om finnes.
The er ingen tvil de skjulte ordren viking snakker om finnes.
Viking_I
22.03.2023 kl 12:33
6579
Jeg er pensjonist, så mye tid å bruke. Du kan selge og sjekke ordredybden.
HighAndLow
22.03.2023 kl 12:33
6572
Enig, men jeg tenkte mer på hvor tallet om skjult ordre på 5 millioner aksjer kommer fra?
Viking_I
22.03.2023 kl 12:49
6533
syndicate slowly want to fill before Benin announcement, if some one clear up to 0.06 there will be more trouble for syndicate before Benin announcement. They always have some inside info............ knowingly there is huge hidden buying order they selling side not moving down because it is to create pressure.
Redigert 22.03.2023 kl 12:50
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HighAndLow
22.03.2023 kl 13:00
6488
keisam skrev Les deg opp på dark pool.
"Dark pool" er greit, men utfordringen her er at jeg ikke får tallet på 5 millioner aksjer til å stemme, så derfor spør jeg i all beskjedenhet hvor dette tallet kommer fra? Viktig at tallene stemmer, synes jeg da.
Redigert 22.03.2023 kl 13:01
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keisam
22.03.2023 kl 13:05
6468
Finnes det relasjoner mellom Hingbo Industris og styremedlem Borowskiy? og hva er eventuelt relasjonene?
Hingbo er basert i Hongkong.
Borowskiy er basert i Kina og Hongkong.
Hva er egentlig hensikten med overføring av aksjemajoritet i Zenith Nederland? AC er ganske klar på at han jobber videre med å finne nye case som kan kjøpes opp og utvanningen blir stor hvis Zenith Nederland strukturen blir den nye normalen. Zena har rikelig med eiendeler selv som ikke er utnyttet, plutselig er disse lisensene nær utløpt og ikke lønnsomt med større investeringer.
Hingbo er basert i Hongkong.
Borowskiy er basert i Kina og Hongkong.
Hva er egentlig hensikten med overføring av aksjemajoritet i Zenith Nederland? AC er ganske klar på at han jobber videre med å finne nye case som kan kjøpes opp og utvanningen blir stor hvis Zenith Nederland strukturen blir den nye normalen. Zena har rikelig med eiendeler selv som ikke er utnyttet, plutselig er disse lisensene nær utløpt og ikke lønnsomt med større investeringer.
Viking_I
22.03.2023 kl 13:06
6463
Zenith applied for 45% in Sid I EI Kllani ...............Form report page 120
keisam
22.03.2023 kl 13:08
6453
Det vet ikke jeg, men systemet er lagt opp slik at dette kan gjennomføres.
Viking_I
22.03.2023 kl 13:08
6453
No one will give 100 million worth field to 20 million....................
Hva Hingbo Industris er for noe vet knapt gudene ...
Kansje ett selskap som er snekret sammen i all hast hvor Borowskiy har en finger med i spillet.
Med mindre Fader AC kommer med en åpenbaring sitter vi bare å gjetter ....
Zenith Nederland sitter med 49% og Hingbo resten.
I prakis en utvanning hvis eventyret i Yemen blir noe mere enn ett håp.
Kansje ett selskap som er snekret sammen i all hast hvor Borowskiy har en finger med i spillet.
Med mindre Fader AC kommer med en åpenbaring sitter vi bare å gjetter ....
Zenith Nederland sitter med 49% og Hingbo resten.
I prakis en utvanning hvis eventyret i Yemen blir noe mere enn ett håp.
Viking_I
22.03.2023 kl 15:47
6213
https://www.kpler.com/blog/what-does-the-iran-saudi-normalisation-mean-for-oil
"An agreement between the Houthis and Riyadh could also lead to a resumption of Yemeni oil exports. However, these will not be a game changer for the market given the state of the Yemeni oil infrastructure, its relatively low level of oil reserves, and the fact that the civil war is unlikely to end even after a deal with the Saudis. Austria’s OMV, the last remaining IOC in the country, sold its upstream assets to Zenith Energy in January. We expect Chinese companies to be the most willing to enter the country, solidifying their influence on Yemeni supply, which mainly used to be headed to China. The last cargoes of Masila and Shabwah crude were shipped in Q3 2022 and were shipped to China. Before the war, Yemen exported as much as 60 kbd of oil, mainly to China and Southeast Asia."
"An agreement between the Houthis and Riyadh could also lead to a resumption of Yemeni oil exports. However, these will not be a game changer for the market given the state of the Yemeni oil infrastructure, its relatively low level of oil reserves, and the fact that the civil war is unlikely to end even after a deal with the Saudis. Austria’s OMV, the last remaining IOC in the country, sold its upstream assets to Zenith Energy in January. We expect Chinese companies to be the most willing to enter the country, solidifying their influence on Yemeni supply, which mainly used to be headed to China. The last cargoes of Masila and Shabwah crude were shipped in Q3 2022 and were shipped to China. Before the war, Yemen exported as much as 60 kbd of oil, mainly to China and Southeast Asia."
Redigert 22.03.2023 kl 15:49
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BMU
22.03.2023 kl 16:59
6114
There ar sum things or times in life general that the more effort and energy man put in to sum thing ore case it nothing happens no mater haw hard you try. In thees case is true.
We haw don what we can do as the investor in accordance with information and knowledge we haw. Sum times is the best to withdraw energy and concerns and wait for the divine times or the right time ( depending on what you beliv). I know that is easier said then done but it's the only way to come thru this waiting game if you beliv in the success and completions as I*m.
We haw don what we can do as the investor in accordance with information and knowledge we haw. Sum times is the best to withdraw energy and concerns and wait for the divine times or the right time ( depending on what you beliv). I know that is easier said then done but it's the only way to come thru this waiting game if you beliv in the success and completions as I*m.
Redigert 22.03.2023 kl 17:00
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keisam
22.03.2023 kl 17:47
6041
For all del kan det være et smart grep med å få med Hingbo. Kina er ivrig med å etablere samarbeid med mange ulike land og bidrar sterkt i gulfen. Sett fra vårt ståsted er verken Iran eller saudi i sentrum, på sikt vil de kanskje være det absolutte midtpunkt på ulike områder. Trianglet Europa, Afrika og Asia er helt avhengig av ro og orden i gulfen. Den nye silkeveien på land, sjøtrafikken og lufttrafikken vil alle berøre dette område. Idretten brukes og vil bli brukt i større grad. Ingen selvfølge at dollaren skal være rådende valuta i fremtiden og muligens vil større aktører være med på denne endringene. Vestens befolkning vil utgjøre mindre del av verdens befolkning, fra 25-30% til 7-8% på hundre år fra andre verdenskrig. Store geopolitiske endringer må påregnes de nærmeste tiårene.
Fader AC må åpenbare seg veldig, 5000 sultne aksjonærer som må mettes.
Fader AC må åpenbare seg veldig, 5000 sultne aksjonærer som må mettes.
Blientotre
22.03.2023 kl 18:41
5985
Det vi hadde trengt er en ny tråd med oppsumering av siste rapport - for å fange interesse hos nye investorer..
Der kommer mine skriveferdigheter til kort.
Ikke til vår fordel at tråden vi skriver på heter emisjon.
Der kommer mine skriveferdigheter til kort.
Ikke til vår fordel at tråden vi skriver på heter emisjon.
Redigert 22.03.2023 kl 20:04
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Viking_I
04.04.2023 kl 10:37
4940
As predicted a 15 days before expected production cut expecting it for next few years if oil price goes below $80 US still waiting to fill Strategic Petroleum Reserve (SPR) so cant play with inventory more than 2 to 3 months so price will rise upto $100 in summer time.
Fryden
05.04.2023 kl 09:15
4684
Når kommer neste Institutional investment in Zenith.
Noen uker etter aksjespleis 10:1 vil jeg anta.....
Tipper emisjonskurs settes til 25-30 øre (2,5 - 3 øre før spleis)
Noen uker etter aksjespleis 10:1 vil jeg anta.....
Tipper emisjonskurs settes til 25-30 øre (2,5 - 3 øre før spleis)
Viking_I
05.04.2023 kl 09:22
4658
jokers, always come with information without any base ....................
Furuen
05.04.2023 kl 10:33
4542
Har dere tenkt på hvilket inntrykk Zenith gir av seg selv overfor alle forhandlingspartnere når de ikke har spleiset aksjen for lenge siden?
Her kommer det et selskap som vil overta et oljefelt i landet ditt. Hva er det første du gjør da, jo selvsagt sjekke dette selskapet. Hvilket inntrykk tror dere det gir når de ser at aksjekursen er 6 øre? Kjempesolid selskap som vi virkelig får tiltro til? Eller hva fanden er dette for slags subbeselskap som kommer her?
Her kommer det et selskap som vil overta et oljefelt i landet ditt. Hva er det første du gjør da, jo selvsagt sjekke dette selskapet. Hvilket inntrykk tror dere det gir når de ser at aksjekursen er 6 øre? Kjempesolid selskap som vi virkelig får tiltro til? Eller hva fanden er dette for slags subbeselskap som kommer her?
Fryden
05.04.2023 kl 10:39
4523
Snakk for deg selv, så mye spekulasjoner og alternative fakta som du kommer med. Men, du er vel en trønder med bart og full av karsk, LOL
Konjagi
05.04.2023 kl 15:51
4400
De fikk da en eksklusiv avtale til å forhandle, noe må da være interessant?
Og det er mulig at et krav under forhandlingene har vært spleising, hvem vet
Og det er mulig at et krav under forhandlingene har vært spleising, hvem vet
Redigert 05.04.2023 kl 16:06
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MarketGunsling
05.04.2023 kl 16:00
4380
This is yet another reason why the upcoming share consolidation is a good thing.
JobPeterson
09.04.2023 kl 12:04
3980
MarketGunsling skrev This is yet another reason why the upcoming share consolidation is a good thing.
yes consolidation is a good thing and would be even better with Benin signed by us, which I am very confident Mr Cattaneo has the ability to achieve very soon.
futureistoday
11.04.2023 kl 07:39
3527
Noen som vet hvorfor kursen står i 0,0699 idag? Den sluttet av på 0,0716 på onsdag. Dette har hendt en gang tidligere og som jeg har registrert.
kurthelg
11.04.2023 kl 07:56
3468
Ser dette. Jeg tok skjermdump av portefølgen min i gårkveld. Ser alle mine aksjer nå i dag er nedjustert litt etter siste børsdag før påske.