ZEN.L

Zenith Energy Ltd.
Zenith Energy Ltd - Payment of Outstanding Notes of 2024 Bond
20th August 2024, 15:00
TwitterFacebookLinkedIn
To continue viewing RNS, please confirm that you are a Private Investor*

* A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:

  1. Obtains access to the information in a personal capacity;
  2. Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
  3. Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
  4. Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
  5. Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
  6. Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
RNS Number : 1470B
Zenith Energy Ltd
20 August 2024
 

August 20, 2024             

ZENITH ENERGY LTD.

("Zenith" or the "Company")

Payment of Outstanding Notes of 2024 Bond

Zenith Energy Ltd. (LSE: ZEN; OSE: ZENA; OTCQB: ZENAF), the international energy production and development company, is pleased to provide an update following the regulatory news announcement dated July 23, 2024, regarding the successful conclusion of the last Bond Exchange Offer announced on April 22, 2024 (the "Bond Exchange"), preceded by the first Bond Exchange Offer announced on January 25, 2024, both attracting significant support and investor participation (collectively, the "Exchanges").

By way of background, the Exchanges were directed to Noteholders (the "Noteholders") of the following unsecured debt instruments that matured on January 27, 2024 (the "Outstanding Notes"):

·        Euro 10.125% Notes due on 27 January 2024 (XS2108546735)

·        USD 10.300% Notes due on 27 January 2024 (XS2108546651)

·        GBP 10.375% Notes due on 27 January 2024 (XS2108546578)

Payment in cash to Noteholders who did not participate in the Exchanges

Those Noteholders, holding approximately 11.76% of the Outstanding Notes, who did not participate in the Exchanges will receive settlement of the Outstanding Notes and accrued interest by way of cash (the "Remaining Outstanding Notes").

 The Company gives notice that the Remaining Outstanding Notes will be paid as follows:

·           September 25, 2024, in the amount of 20% (twenty percent) of the Remaining Outstanding Notes, and

·           October 25, 2024, payment of the balance of the Remaining Outstanding Notes and accrued interest.

Andrea Cattaneo, Chief Executive Officer, commented:   

"We are very pleased to have now brought this matter to a successful conclusion with the planned settlement in cash of the Remaining Outstanding Notes to those investors who did not participate in the Exchanges. 

The Exchanges have been a resounding success, attracting participation from the vast majority of Noteholders, and providing clear evidence of investor confidence in the Company's future, made possible by its established history as a fully compliant debt issuer. This is especially important as we approach potentially very significant progress with the expected publication of the decision in respect of the first ICC arbitration later this year."

 

 

 

 Further Information:

Zenith Energy Ltd 

Andrea Cattaneo, Chief Executive Officer

 

Tel: +1 (587) 315 1279

E:       info@zenithenergy.ca

Notes to Editors:

Zenith Energy Ltd. is a revenue generating, independent energy company with energy production, exploration and development assets in North Africa, the US and Europe. The Company is listed on the London Stock Exchange Main Market (LSE: ZEN), the Euronext Growth of the Oslo Stock Exchange (OSE: ZENA) and the Venture Market of the OTCQB (OTCQB: ZENAF).

Zenith's strategic focus is on pursuing development opportunities through the development of proven revenue generating energy production assets, as well as low-risk exploration activities in assets with existing production.

 

For more information, please visit:  www.zenithenergy.ca

Twitter: @zenithenergyltd

LinkedIn:  https://bit.ly/3A5PRJb

 

 

 

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.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
MSCPPUACRUPCGCU]]>
TwitterFacebookLinkedIn