Zenith Energy Ltd Approval of Prospectus for EUR 25 million EMTNs (4389S)
November 06 2019 - 2:09AM
UK Regulatory
TIDMZEN
RNS Number : 4389S
Zenith Energy Ltd
06 November 2019
November 6, 2019
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulation (EU) No. 596/2014 ("MAR"). Upon
publication of this announcement via a regulatory information
service ("RIS"), the inside information contained in this document
is now considered to be in the public domain.
ZENITH ENERGY LTD.
("Zenith" or the "Company")
Approval of Prospectus for EUR 25 million EMTNs
Zenith Energy Ltd., ("Zenith" or the "Company"), (LSE: ZEN;
TSX.V: ZEE; OSE: ZENA-ME), the international oil & gas
production company, is pleased to announce the approval of its Base
Prospectus ("Prospectus") for the issuance of EUR 25,000,000
unsecured, multi-currency Euro Medium Term Notes at par value (the
"Notes") on the Third Market (MTF) of the Vienna Stock Exchange
("Wiener Borse AG").
The Notes can be issued in tranches at Zenith's discretion up to
an aggregate principal amount not to exceed the value of Euro
25,000,000 and in any currency agreed between Zenith and the
relevant investor including EUR, CAD$, GBP, USD, and CHF.
The current maximum aggregate principal amount of all Notes at
any one time outstanding will not exceed Euro 25,000,000 (or its
equivalent in other currencies), subject to an increase from time
to time in accordance with applicable law.
The Notes are governed by Austrian law and, since the Notes are
not convertible into equity of Zenith, the issuance of the Notes is
not subject to the approval of the TSX Venture Exchange in
Canada.
The issue of the Notes is aligned with the Company's strategy of
diversifying its financing towards non-equity dilutive funding to
support its successful development.
The Prospectus for the issue of the Notes will shortly be
available for consultation on the Company's website:
www.zenithenergy.ca.
The Company will provide further information as appropriate.
Andrea Cattaneo, Chief Executive Officer of Zenith,
commented:
"We are very pleased to have received approval for our new EMTN
instrument, especially as we are delivering on our declared
strategy of seeking to maximise the use of non-dilutive financing
to support the Company's development.
It is important to underline that these Notes give investors
improved flexibility because the currency, issue price and interest
rate - amongst other key terms - can be determined with the
relevant investor in relation to each specific subscription. This
is expected to offer a number of benefits to marketing and
distributing the Notes.
I look forward to updating investors in due course on our
progress in a number of areas."
Further Information:
Zenith Energy Ltd
Andrea Cattaneo, Chief Executive Tel: +1 (587) 315
Officer 9031
-----------------------------
E-mail: info@zenithenergy.ca
-----------------------------
Peterhouse Capital - Joint Tel: + 44 (0) 207
Broker 469 0930
-----------------------------
Lucy Williams
-----------------------------
Charles Goodfellow
-----------------------------
Novum Securities Limited - Tel: + 44 (0) 207
Joint Broker 399 9400
-----------------------------
Charlie Brook-Partridge
-----------------------------
Hugh McAlister
-----------------------------
IFC Advisory Limited - Financial Tel: + 44 (0) 203
PR & IR 934 6630
-----------------------------
Graham Herring
-----------------------------
Zach Cohen
-----------------------------
Notes to Editors:
Zenith Energy Ltd. is an international oil and gas production
company, listed on the TSX Venture Exchange (TSX.V:ZEE) and London
Stock Exchange (LSE:ZEN). In addition, the Company's common share
capital was admitted to trading on the Merkur Market of the Oslo
Børs (ZENA:ME) on November 8, 2018. The Merkur Market is a
multilateral trading facility owned and operated by the Oslo
Børs.
The Company was assigned a medium to long-term issuer credit
rating of "B+ with Positive Outlook" on October 9, 2019 by Arc
Ratings, S.A.
The Company operates the largest onshore oilfield in Azerbaijan
following the signing of a 25-year REDPSA, (Rehabilitation,
Exploration, Development and Production Sharing Agreement), with
SOCAR, State Oil Company of the Republic of Azerbaijan, in
2016.
The Company's primary focus is the development of its Azerbaijan
operations by leveraging its technical expertise and financial
resources to maximise low-cost oil production via a systematic
field rehabilitation programme intended to achieve significantly
increased revenue. Zenith also operates, or has working interests
in, a number of natural gas production concessions in Italy. The
Company's Italian operations produce natural gas, condensate and
electricity.
Zenith's development strategy is to identify and rapidly seize
value-accretive hydrocarbon production opportunities in the onshore
oil & gas sector. The Company's Board of Directors and senior
management team have the experience and technical expertise to
develop the Company successfully.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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