ZENA 10:1 Consolidation

MarketGunsling
ZENA 10.03.2023 kl 17:30 3323

News out 10: 1 consolidation after the AGM on April 14th
https://live.euronext.com/en/product/equities/ca98936c1068-merk/zenith-energy/zena/quotes#CompanyPressRelease-12052135

This is a thing that a number of us have been calling for for some time. Although it should not make any difference to the value of our holdings in the short-term, in the long term the fact that there are ten times less shares in issue should make the price move much more significantly on news and this should in itself cause new investors to get more interesting.

A good thing in my opinion.


EDIT: Sorry - corrected the date - I originally posted 14th August
Redigert 10.03.2023 kl 17:45 Du må logge inn for å svare
C-Eiken
10.03.2023 kl 17:35 3308

14. April ikke Aug vel ?

Men reverse split, er det ikke OK ? Har set flere efterspørge det
MarketGunsling
10.03.2023 kl 17:46 3265

Sorry, yes it is 14th April - I have now edited my post to correct.

Yes, the consolidation (reverse split) is a good thing.
Kniko
10.03.2023 kl 18:17 3187

It is interesting that they choose to do it now. Without putting too much into it, it appears to me as another piece in the puzzle now, further strengthening my belief that they are on track to secure multiple assets and really transforming the company. Exciting spring for sure :)
Furuen
10.03.2023 kl 19:13 3084

Change of Auditor & Notice of AGM

March 10, 2023

ZENITH ENERGY LTD.

("Zenith" or the "Company")

Change of Auditor & Notice of AGM

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, following a competitive tender process, it has appointed RPG Crouch Chapman LLP (“RPG”) as its new independent external auditor with immediate effect.

The Company's former auditor, Jeffreys Henry LLP, has resigned following a decision to cease acting as auditor for "Public Interest Entities" (a definition that includes all companies on the UK Official List) and has confirmed that it has no matters which it considers should be brought to the attention of the Company's members or creditors in accordance with Section 519 of the Companies Act 2006.

The appointment of RPG will be presented for shareholder approval at the Company's next Annual General Meeting.

Notice of AGM

The Company is pleased to confirm that its Annual General Meeting and Special Meeting ("AGM") will be held at the offices of McCarthy Tétrault LLP located at Suite 4000, 421 - 7th Avenue SW, Calgary, AB T2P 4K9 on Friday, April 14, 2023, at 12:00 pm (MST).

The Information Circular and Proxy Voting Form are attached to this regulatory news announcement for review and will also shortly be made available for download on the Company’s website (www.zenithenergy.ca).

Among the resolutions presented at the Annual General Meeting will be a change in the number of issued and outstanding common shares ("Common Shares") of the Company by consolidating such issued and outstanding Common Shares on the basis of one (1) post-consolidation Common Share for each 10 existing Common Shares (the "Consolidation"). The Company will issue a separate regulatory news announcement with key information regarding the Consolidation as soon as the relevant dates have been fixed.
BMU
10.03.2023 kl 20:21 2977

Actually is not me fan of reverse split. First I will not feel like multi millionaire (only in the nomber of the share s for now).
Second we may have risks of issue new commen share's easier in the future.
And third but not listed: Her it goes the last place on the universe where I was feeling millionaire 😒 ( and it feels good as much is worth it.) 😒😒
Then again I'm use to thinking ,,Little "different and the others in thees forums, thats way I haw it feels like black sheep. At list I'm honest and authentic in my thous and mening, and man it feels so good.
P.s. I stel believe that GAS is the future. Remember in the flu years it will be proven if I'm wright or wrong.
Redigert 10.03.2023 kl 22:41 Du må logge inn for å svare
keisam
10.03.2023 kl 20:31 2952

Dette var interessant og som jeg ikke har fått med meg tidligere: "the energy company with proven revenue generating production, exploration and development assets in Africa, the Middle East and Europe"
Kniko
10.03.2023 kl 20:36 2931

Litt fredags-sarkasme? 😅
keisam
10.03.2023 kl 20:54 2898

tenkte på the middle east. Har ikke registrert at det er blitt nevnt tidligere i børsmeldinger, mulig jeg tar feil.
Konjagi
10.03.2023 kl 21:42 2841

This is really positive information and as you mention, asked for by a few interests.
And this can for sure bring onboard other investors. Could be that some of the computer trading will be stopped?
Kniko
10.03.2023 kl 22:01 2796

Hehe ja den virket egentlig ikke så sarkastisk men den "slogan" til selskapet har fått litt pes på forumet her tidligere.

Kan heller ikke huske nøyaktig hva de har nevnt tidligere men det samme står på forsiden til nettsiden. Dog la jeg merke til at på den nye strategi siden på https://www.zenithenergy.ca/about/strategy/ så har de skrevet:
STRATEGY
Zenith Energy’s aim is to become a mid-tier, Africa focussed E&P company

Kunne stått "Africa & Middle East" men det er vel kanskje ikke så nøye... Afrika er vel hovedfokuset deres så det stemmer vel.
keisam
10.03.2023 kl 22:03 2791

Konjagi skrev Yemen
Da tolker jeg det dithen at de har inntekter fra Jemen, og noe som Viking har nevnt tidligere i en av sine mange innlegg.
Kniko
10.03.2023 kl 22:03 2787

Konjagi skrev Yemen
Det er vel fordi de sier de *har* assets i Europe, Africa og Middle East.
Kniko
10.03.2023 kl 22:07 2773

*de får inntekter med tilbakevirkende kraft fra de de signerte oppkjøpet, dvs de eier vel selskapet med alle inntekter og assets det har fra oppkjøpsdagen. Er vel i avtalen at OMV ikke skal tømme selskapet når de selger det.
keisam
10.03.2023 kl 22:30 2736

Ja, er som Viking har skrevet tidligere og har muligens ingen betydning med tanke på endelig overdragelse. I utgangspunktet er det merkelig at selskapet velger å bruke disse ordene i børsmeldinger uten at de er sikker på overdragelse.
Ser de har skrevet Midt-Østen i meldingene fra 17. og 27. feb.
keisam
10.03.2023 kl 22:39 2722

er ikke nok med "har", de generer inntekter. Når de bruker "and" så må alle oppfylles. Hvis en eller flere skal oppfylles så burde de har brukt "and/or" for både fase og region.
jantt
10.03.2023 kl 22:47 2701

splejs af aktier. det har jeg set frem til. Så er der mindre antal der kan leges med.
Viking_I
10.03.2023 kl 22:54 2688

Before announcement of Benin and Yemen, i don't support this reverse split. If Zenith do that, it's New playground for syndicate to more lower the course. Even current value does not represent the current share value.
Kniko
10.03.2023 kl 23:25 2641

Well, my suspicion is that there will be news that will drive the course above 0.1 before the consolidation/spleis and hence finally drive it well above 1kr and hopefully stay there.
jantt
11.03.2023 kl 04:56 2519

Well I hope really that good news from Yemen or Benin will drive the course well above 0,1
Gullit
11.03.2023 kl 10:49 2343

Any one of them should take us to 0,3 or more…
Oilinvestor
11.03.2023 kl 13:44 2187

Hvor mye kapital trengs for å starte opp produksjonen i Benin?
Hva er realistisk produksjons rate i første omgang?
Gullhaugen
11.03.2023 kl 13:49 2176

Jeg håpet på 100:1 spleis.
RKW
11.03.2023 kl 15:25 2096

Spleis gir vel mindre aksjer en kort stund, til neste EMI! Så er vi tilbake. Hvis noe går inn trengs det vel kapital, og de rns'ene kommer etter børsslutt, som lyn fra klar himmel.
Blientotre
12.03.2023 kl 14:12 1727

Kjenner jeg er litt spent på hvordan markedet reagerer på denne nyheten.