Settlement of derivative agreements and terms and conditions of the new derivative agreements
Settlement of derivative agreements and terms and conditions of the new derivative agreements
Zenith Pure Oil Plc. (“Zenith Pure Oil”) hereby notifies the capital market participants of the following, in relation to the announcement dated 27 June 2025:
Under the share option agreement executed between Zenith Pure Oil and UniCredit Bank GmbH (“UniCredit”) on 05 July 2024, 31,000,000 pieces of Zenith Pure Oil Series “A” ordinary shares (“Shares”) will be cash settled on 08 July 2025.
Under the share option agreement entered into by Zenith Pure Oil and UniCredit on 27 June 2025 Zenith Pure Oil receives American call options and UniCredit receives European put options in relation to 31,000,000 pieces of Shares with the effective date of 08 July 2025. The maturity date of both the call and put options is 03 July 2026, and the strike price of both options is EUR 7.52313 per Share.
Under the share option agreement executed between Zenith Pure Oil and ING Bank N.V. (“ING”) on 05 July 2024, 31,000,000 pieces of Shares will be cash settled on 08 July 2025.
Under the share option agreement entered into by Zenith Pure Oil and ING on 27 June 2025 Zenith Pure Oil receives American call options and ING receives European put options in relation to 31,000,000 pieces of Shares with the effective date of 08 July 2025. The maturity date of both the call and put options is 03 July 2026, and the strike price of both options is EUR 7.8157 per Share.
Under the total return swap agreement executed between Zenith Pure Oil and Commerzbank AG (Commerzbank) on 05 July 2024, 6,676,013 pieces of Shares will be cash settled on 08 July 2025.
The total return swap agreement concluded between Zenith Pure Oil and Commerzbank on 27 June 2025 concerns 6,676,013 pieces of Shares. The agreement’s settlement date is 08 July 2026.
As a result of the transactions the number of treasury shares does not change, Zenith Pure Oil owns directly and indirectly 17,886,960 “A” Series and 578 “C” Series Zenith Pure Oil Ordinary shares.