Sale of Treasury Shares and conclusion of Share Option Agreement with ING Bank N.V.
Under the share sale and purchase agreement concluded between Zenith Pure Oil and ING Bank N.V. („ING”) on 24 February 2022 Zenith Pure Oil sells 36,127,167 Series “A” Zenith Pure Oil ordinary shares (“Shares”) to ING.
Zenith Pure Oil Plc. (“Zenith Pure Oil”) hereby notifies the market of the following:
Under the share sale and purchase agreement concluded between Zenith Pure Oil and ING Bank N.V. („ING”) on 24 February 2022 Zenith Pure Oil sells 36,127,167 Series “A” Zenith Pure Oil ordinary shares (“Shares”) to ING.
Simultaneously, Zenith Pure Oil and ING entered into a share option agreement under which Zenith Pure Oil receives American call options and ING receives European put options in respect of 36,127,167 Shares on 28 February 2022. The strike price of both the put and call options is EUR 6.9417, their expiry is 23 June 2022.
As a result of the transactions the number of treasury shares decrease by 36,127,167, Zenith Pure Oil owns directly and indirectly 52,168,497 “A” Series and 578 “C” Series Zenith Pure Oil Ordinary shares.