Canada’s Zenith Energy discloses amount to be raised by share placement
Baku, Azerbaijan, June 21
By Ilkin Shafiyev – Trend:
Canada’s Zenith Energy, which operates the block of Muradkhanli-Jafarli-Zardab onshore oil fields in Azerbaijan, will raise 2.2 million euros by placing 54.2 million ordinary shares, the company told Trend June 21.
The company, based in Canada's Calgary, has double listing on the TSX Venture Exchange and the London Stock Exchange.
The company’s extended share capital after the placement of the new issue will be formed from 214 million ordinary shares. New ordinary shares will account for about 25.3 percent of the company's extended share capital.
"We applied to the UK Listing Authority to place new ordinary shares and 6,721,647 preference shares,” the company said. “An application will also be made to place new ordinary shares on the Toronto Venture Exchange."
The company expressed hope that the placement of shares will be successful. Transactions with new ordinary shares will be carried out on June 26, 2018.
Zenith Energy is the operator of the biggest block of Muradkhanli-Jafarli-Zardab onshore oil fields in Azerbaijan.
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