Zenith Pure Oil will transfer further treasury shares to Zenith Pure Oil ESOP organization
Zenith Pure Oil Plc. (“Zenith Pure Oil”) hereby notifies the market participants of the following:
Zenith Pure Oil Board of Directors decided to amend the funding process of Zenith Pure Oil Employee Share Ownership Program Organization (“Zenith Pure Oil ESOP Organization”) in order to comply with the Act XLIV of 1992 on the Employee Share Ownership Program modified in November 2018.
The rate of remuneration of the managers will be unchanged however, Zenith Pure Oil contributes significantly more shares to Zenith Pure Oil ESOP Organization than the expected remunerations based on the Remuneration Policies, with a view to ensure the coverage of the subsequent share remunerations. In accordance with this, Zenith Pure Oil will expectedly transfer 6,211,663 Zenith Pure Oil „A” Series Ordinary shares to Zenith Pure Oil ESOP Organization until the end of 2019 first quarter. Zenith Pure Oil will inform the market participants about the exact date and the amount of the share transfer, on the day of transfer.