Zenith Energy Ltd CEO Foregoes Salary in Lieu of Equity at Premium (0265V)
January 25 2017 - 1:00AM
UK Regulatory
TIDMZEN
RNS Number : 0265V
Zenith Energy Ltd
25 January 2017
Zenith CEO Foregoes Salary in Lieu of Equity at Premium
Calgary, Alberta, January 25, 2017, Zenith Energy Ltd. ("Zenith"
or "the Company") (LON: ZEN; TSX-V:ZEE) the dual listed oil &
gas producing company with assets in Azerbaijan, Italy and
Argentina is pleased to announce a salary sacrifice proposal by
Andrea Cattaneo, CEO of the Company.
Director Salary Sacrifice in Exchange for Company Shares
Andrea Cattaneo, CEO, has proposed (the "Salary Proposal") to
the Board of Directors to swap his full salary for the next twelve
months, effective on the 1 February 2017, in exchange for common
shares of Zenith (the "Salary Sacrifice Shares"). The Company's
Board of Directors has agreed to the Proposal subject to the filing
of an application with the TSX Venture Exchange ("TSXV") and the
receipt of approval of the Proposal, including how such Salary
Sacrifice Shares will be priced, from the TSXV.
Andrea Cattaneo, Zenith Energy CEO, commented:
"In a clear indication of my strong belief in the potential of
Zenith's future, I am pleased to announce my remuneration in
equity. This proposal stems from my strong belief in the
Company.
I trust shareholders of Zenith will view my commitment
positively and recognise the real value of the Company.
I am determined to see the success of Zenith."
Reader Advisory
This press release contains forwarding looking statements. More
particularly, this press release contains statements concerning the
possible issuance of common shares in lieu of salary for an
executive officer of the Company. Although the Company believes
that the expectations reflected in these forward looking statements
are reasonable, undue reliance should not be placed on them because
the Company can give no assurance that they will prove to be
correct. Since forward looking statements address future events and
conditions, by their very nature they involve inherent risks and
uncertainties. The forward looking statements contained in this
press release are made as of the date hereof and the Company
undertakes no obligations to update publicly or revise any forward
looking statements or information, whether as a result of new
information, future events or otherwise, unless so required by
applicable securities laws.
For further information, please contact:
José Ramón López-Portillo Chairman of the Board
Andrea Cattaneo CEO & President
Email: info@zenithenergy.ca
Telephone: +1 (587) 315-9031
Telefax: +1 (403) 775-4474
This information is provided by RNS
The company news service from the London Stock Exchange
END
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