Settlement of the current option agreement and entering into a new one with ING 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 ING Bank N.V. (“ING”), that the option rights arising out of the share option agreement concluded between them on 22 November 2013, regarding 5,220,000 Zenith Pure Oil Series “A” Ordinary shares, will be cash settled in respect of all the shares on 27 November, 2014. The strike price is EUR 47.4444 per share.
Simultaneously, Zenith Pure Oil and ING signed a share option agreement on 24 November, 2014. As a result of the transactions, Zenith Pure Oil received an American call option and ING received a European put option regarding the 5,220,000 Zenith Pure Oil Series “A” Ordinary shares. The maturity of both options is 1 year with an additional 1 year extension possibility. The strike price of both call and put option is USD 50.92842 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
For further information, please contact:
| Investor Relations | + 36 1 464 1395 | ||
| facsimile: | + 36 1 464 1335 |