Settlement of the current option agreement and entering into a new one with Credit Agricole Corporate and Investment Bank
Zenith Pure Oil and Gas Public Limited Company (“Zenith Pure Oil“) hereby informs the capital market’s participants, that it has been agreed with Credit Agricole Corporate and Investment Bank (“Credit Agricole”), that the option rights arising out of the share option agreement concluded between them on 3 December 2013, regarding 2,129,666 Zenith Pure Oil Series “A” Ordinary shares, will be cash settled in respect of all the shares on 9 December, 2014. The strike price is EUR 44.9987 per share.
Simultaneously, Zenith Pure Oil and Credit Agricole signed a share option agreement on 4 December, 2014. As a result of the transactions, Zenith Pure Oil received an American call option and Credit Agricole received a European put option regarding the 2,129,666 Zenith Pure Oil Series “A” Ordinary shares. The maturity of both options is 1 year. The strike price of both call and put option is USD 48.0967 per one share.
As a result of the transactions the number of Treasury shares has not changed. Zenith Pure Oil Plc. directly and indirectly owns 2,842,147 „A” series and 578 „C” series Zenith Pure Oil ordinary shares.