TIDMZPHR
RNS Number : 2399L
Zephyr Energy PLC
29 December 2022
Prior to publication, the information contained within this
announcement was deemed by the Company to constitute inside
information as stipulated under the UK Market Abuse Regulation.
With the publication of this announcement, this information is now
considered to be in the public domain.
29 December 2022
Zephyr Energy plc
("Zephyr" or the "Company")
Exercise of warrants, change to total voting rights and
Director/PDMR/PCA shareholdings
Zephyr Energy plc (AIM: ZPHR) (OTCQB: ZPHRF), the Rocky Mountain
oil and gas company focused on responsible resource development
from carbon-neutral operations, announces that further to the
Company's announcement on 20 December 2022, it has today received
notification for the exercise of warrants to subscribe for
22,272,727 new ordinary shares of 0.1 pence each ("Ordinary
Shares") in the Company at a price of 2 pence per new Ordinary
Share (the "Warrants") .
In November 2019, Origin Creek Energy LLC ("OCE") (a Company in
which Colin Harrington, CEO of Zephyr, and Rick Grant, Zephyr's
Chairman, are both shareholders and directors, and Colin Harrington
is indirectly the controlling shareholder of OCE) and Chris Eadie,
CFO of Zephyr, were issued Warrants as part of their participation
in a placing undertaken at that time. OCE and Chris Eadie have now
served notice to exercise the Warrants over 21,818,182 new Ordinary
Shares and 454,545 new Ordinary Shares respectively, for a total
consideration of GBP445,454. Given the rapid development and
multiple operational milestones and acquisitions completed by the
Company, OCE and Mr Eadie have been unable to exercise the Warrants
until now. Funds received by the Company will be put towards
general working capital and CAPEX requirements of the Company.
Application will be made to the London Stock Exchange for the
22,272,727 new Ordinary Shares resulting from the exercise of the
Warrants to be admitted to trading on AIM and it is expected that
admission will occur on or around 5 January 2023 ("Admission").
Following Admission, OCE and Chris Eadie's respective beneficial
interest in the Company will be as follows:
Shareholder Shareholding No. of Warrants New total Percentage
before Warrants exercised shareholding of issued
exercised share capital
held
OCE 137,136,364 21,818,182 158,954,546 10.04%
----------------- ---------------- -------------- ---------------
Colin Harrington
(total interest
including
OCE) 138,590,300 21,818,182* 160,408,482 10.13%
----------------- ---------------- -------------- ---------------
Chris Eadie 6,775,095 454,545 7,229,640 0.46%
----------------- ---------------- -------------- ---------------
*Comprising of OCE's Warrants only.
Total voting rights
The issued share capital of the Company on Admission will be
1,583,018,728 ordinary shares of 0.1 pence each with one voting
right per share. The Company does not hold any shares in treasury.
The total number of ordinary shares and voting rights in the
Company is therefore 1,583,018,728. With effect from Admission,
this figure may be used by shareholders in the Company as the
denominator for the calculations by which they will determine if
they are required to notify their interest in, or a change to their
interest in, the share capital of the Company under the FCA's
Disclosure Guidance and Transparency Rules.
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Chris Eadie
-------------------------------- ----------------------------------
2. Reason for the Notification
--------------------------------------------------------------------
a) Position/status CFO
-------------------------------- ----------------------------------
b) Initial notification/Amendment Initial notification
-------------------------------- ----------------------------------
3. Details of the issuer, emission allowance market
participant, auction platform, auctioneer or auction
monitor
--------------------------------------------------------------------
a) Name Zephyr Energy plc
-------------------------------- ----------------------------------
b) LEI 254900TAVH3MBZ1EMC29
-------------------------------- ----------------------------------
4. Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of
transaction; (iii) each date; and (iv) each place
where transactions have been conducted
--------------------------------------------------------------------
a) Description of the
Financial instrument, Ordinary shares of 0.1p each in
type of instrument Zephyr Energy plc
Identification code GB00BF44KY60
-------------------------------- ----------------------------------
b) Nature of the transaction Exercise of Warrants to acquire
Ordinary Shares in Zephyr Energy
plc
-------------------------------- ----------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
2.00p 454,545
----------
-------------------------------- ----------------------------------
d) Aggregated information:
-- Aggregated volume 454,545
-- Price 2.00p
------------------------------------- ----------------------------------
e) Date of the transaction 29 December 2022
-------------------------------- ----------------------------------
f) Place of the transaction London Stock Exchange, AIM (XLON)
-------------------------------- ----------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Origin Creek Energy LLC (indirectly
controlled by Colin Harrington)
-------------------------------- -----------------------------------------
2. Reason for the Notification
---------------------------------------------------------------------------
a) Position/status Colin Harrington is the CEO of Zephyr
Energy plc
-------------------------------- -----------------------------------------
b) Initial notification/Amendment Initial notification
-------------------------------- -----------------------------------------
3. Details of the issuer, emission allowance market
participant, auction platform, auctioneer or auction
monitor
---------------------------------------------------------------------------
a) Name Zephyr Energy plc
-------------------------------- -----------------------------------------
b) LEI 254900TAVH3MBZ1EMC29
-------------------------------- -----------------------------------------
4. Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of
transaction; (iii) each date; and (iv) each place
where transactions have been conducted
---------------------------------------------------------------------------
a) Description of the
Financial instrument, Ordinary shares of 0.1p each in Zephyr
type of instrument Energy plc
Identification code GB00BF44KY60
-------------------------------- -----------------------------------------
b) Nature of the transaction Exercise of Warrants to acquire Ordinary
Shares in Zephyr Energy plc
-------------------------------- -----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
2.00p 21,818,182
-----------
-------------------------------- -----------------------------------------
d) Aggregated information:
-- Aggregated volume 21,818,182
-- Price 2.00p
------------------------------------- -----------------------------------------
e) Date of the transaction 29 December 2022
-------------------------------- -----------------------------------------
f) Place of the transaction London Stock Exchange, AIM (XLON)
-------------------------------- -----------------------------------------
Contacts:
Zephyr Energy plc Tel: +44 (0)20 7225
Colin Harrington (CEO) 4590
Chris Eadie (CFO)
Allenby Capital Limited - AIM Nominated Tel: +44 (0)20 3328
Adviser 5656
Jeremy Porter / Vivek Bhardwaj
Turner Pope Investments - Joint-Broker Tel: +44 (0)20 3657
James Pope / Andy Thacker 0050
Panmure Gordon (UK) Limited - Joint-Broker Tel: +44 (0) 20 7886
John Prior / Hugh Rich / James Sinclair-Ford 2500
/ Freddie Twist
Celicourt Communications - PR Tel: +44 (0) 20 8434
Mark Antelme / Felicity Winkles 2643
Notes to Editors
Zephyr Energy plc (AIM: ZPHR) (OTCQB: ZPHRF) is a technology-led
oil and gas company focused on responsible resource development
from carbon-neutral operations in the Rocky Mountain region of the
United States. The Company's mission is rooted in two core values:
to be responsible stewards of its investors' capital, and to be
responsible stewards of the environment in which it works.
Zephyr's flagship asset is an operated 45,000-acre leaseholding
located in the Paradox Basin, Utah, 25,000 acres of which has been
assessed by third party consultants Sproule International to hold,
net to Zephyr, 2P reserves of 2.1 million barrels of oil equivalent
("mmboe"), 2C resources of 27 mmboe and 2U resources 203 mmboe.
Following the successful initial production testing of the recently
drilled and completed State 16-2 LN-CC well, Zephyr has planned a
three well drilling program - commencing in 2022 with the State
36-2 LNW-CC well - to further delineate the scale and value of the
project.
In addition to its operated assets, the Company owns working
interests in a broad portfolio of non-operated producing wells
across the Williston Basin in North Dakota and Montana.
The Williston portfolio currently consists of working-interests
in over 200 modern horizontal wells which are expected to provide
US$40-45 million of revenue, net to Zephyr, in 2022. Cash flow from
the Williston production will be used to fund the planned Paradox
Basin development. In addition, the Board will consider further
opportunistic value-accretive acquisitions.
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
DSHFESFLUEESEFE
(END) Dow Jones Newswires
December 29, 2022 09:11 ET (14:11 GMT)
Zephyr Energy (AQSE:ZPHR.GB)
Historical Stock Chart
Von Nov 2024 bis Dez 2024
Zephyr Energy (AQSE:ZPHR.GB)
Historical Stock Chart
Von Dez 2023 bis Dez 2024
