TIDMZEN

RNS Number : 1115N

Zenith Energy Ltd

20 September 2023

September 20, 2023

ZENITH ENERGY LTD.

("Zenith" or the "Company")

Share Consolidation

Zenith Energy Ltd. (LSE: ZEN; OSE: ZENA), the international energy production and development company, announces that it is implementing the share consolidation that was approved by shareholders at the Company's annual general meeting held on April 14, 2023 (the "Consolidation"). Under the Consolidation, one new common share of no par value ("New Common Shares") will be issued for every ten existing common shares of no par value ("Old Common Shares"). Applications will be made for the New Common Shares to be admitted to the standard segment of the FCA Official List and to trading on the Main Market for listed securities of the London Stock Exchange.

Consolidation Timetable

 
 Latest time and date for dealings          4.30 p.m. on 22 September 2023 
  in Old Common Shares 
 Record Date                                6.00 p.m. on 22 September 2023 
                                           ------------------------------- 
 Admission effective and commencement       8.00 a.m. on 25 September 2023 
  of dealings in the New Common 
  Shares 
                                           ------------------------------- 
 CREST accounts credited with                            25 September 2023 
  the New Common Shares in uncertificated 
  form 
                                           ------------------------------- 
 Despatch of definitive certificates                        2 October 2023 
  for New Common Shares (in certificated 
  form) 
                                           -------------------------------

Consolidation Statistics

 
 Old Common Shares in issue                    2,310,302,537 
 Consolidation ratio of Old Common 
  Shares to New Common Shares                           10:1 
                                         ------------------- 
 Total number of New Common Shares 
  in issue following the Consolidation           231,030,237 
                                         ------------------- 
 ISIN code for the New Common                   CA98936C8584 
  Shares 
                                         ------------------- 
 SEDOL for the New Common Shares                     BMCMN86 
                                         ------------------- 
 CFI for the New Common Shares                        ESVUFR 
                                         ------------------- 
 FISN for the New Common Shares           ZENITH ENERGY L/SH 
                                         ------------------- 
 TIDM for the New Common Shares                          ZEN 
                                         -------------------

Further Information:

 
Zenith Energy Ltd 
                                       Tel: +1 (587) 315 1279 
 Andrea Cattaneo, Chief Executive      E: info@zenithenergy.ca 
 Officer 
BlytheRay - Financial PR/IR          Tel: +44 207 138 3204 
 Tim Blythe, Megan Ray, Matt          E: zenith@blytheray.com 
 Bowld 
Allenby Capital Limited - Financial  Tel: + 44 (0) 203 328 5656 
 Adviser 
 
 Nick Harriss 
 
 Daniel Dearden-Williams 
Miriad Limited - Media Enquiries     Tel: +44 7867527659 
 Zak Mir                              E: zak@zakmir.com

Notes to Editors :

Zenith Energy Ltd. is a revenue generating, independent energy company with production, exploration and development assets in Africa, the Middle East and Europe, including electricity generation in Italy. The Company is listed on the London Stock Exchange Main Market (LSE: ZEN) and the Euronext Growth of the Oslo Stock Exchange (OSE: ZENA).

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

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END

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