Zenith Energy Ltd - Completion of Financing
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" or the "Company")
Completion of Financing
The Company is pleased to confirm that the Financing has been fully subscribed.
The Financing has attracted the participation of existing private and institutional investors, to raise an aggregate total amount of approximately
The issue price of the Financing was
Use of Proceeds
The proceeds of the Financing will be used to fund the Company's publicly announced acquisition campaign in
Zenith has issued a total of 80,000,000 common shares of no-par value in the capital of the Company in connection with the Financing (the "Financing Common Shares").
An application for the 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 will be made within 12 months of the issue of the Financing Common Shares.
Total Voting Rights
The Company wishes to announce, in accordance with the Financial Conduct Authority's Disclosure Guidance and Transparency Rules, the following revised information resulting from the issue of the Financing Common Shares.
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
Common Shares in issue and admitted to trading on the Merkur Market of the Oslo Børs
Debt Issuer Credit Rating
Rating-Agentur Expert RA ("RAEX") has assigned Zenith a downgraded "B-" with Developing Outlook debt issuer credit rating in view of the recent volatility in oil prices as a result of the COVID-19 pandemic, as well as the pending completion of Zenith's publicly announced acquisitions.
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Tel: +1 (587) 315 9031
E-mail: [email protected]
Notes to Editors:
Zenith's development strategy is to identify and rapidly seize value-accretive hydrocarbon production opportunities in the onshore oil & gas sector, specifically in
This information is provided by RNS, the news service of the
Quick facts: Zenith Energy Ltd
Market Cap: £5.58 m
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