Zenith Energy Ltd - Oil and gas company focused on assets in Africa and Italy - Announces payment of outstanding notes relating to bond offer announced in January. This attracted significant support and investor participation. Zenith says the remaining outstanding notes will be paid as follows: September 25, in the amount of 20% of the remaining outstanding notes, and October 25, payment of the balance of the remaining outstanding notes and accrued interest.
Chief Executive Officer Andrea Cattaneo comments: ‘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.’
Current stock price: 1.20 pence
12-month change: down 70%
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