Settlement of option agreements and conclusion of new agreements
Settlement of option agreements and conclusion of new agreements
Zenith Pure Oil Plc. (“Zenith Pure Oil”) hereby notifies the market of the following:
Zenith Pure Oil agreed withUniCredit Bank AG (“UniCredit”) on 20 June 2023, that the option rights in relation to 34,446,554 Zenith Pure Oil Series “A” Ordinary shares (“Shares”) under the share option agreement executed between UniCredit and Zenith Pure Oil on 20 June 2022 will be either fully cash settled or partly physically and partly cash settled on 23 June 2023.
Simultaneously, Zenith Pure Oil and UniCredit entered into a new share option agreement. According to the new share option agreement Zenith Pure Oil will receive American call options and UniCredit will receive European put options, with the effective date of 27 June 2023. The maturity date of both the call and put options will be 24 June 2024.
The number of affected Shares, the number of options as well as the strike price of the options will be defined based on market data available as of 23 June 2023 and the capital market participants will be informed accordingly.
Zenith Pure Oil agreed with ING Bank N.V. (“ING”) on 20 June 2023, that the option rights in relation to 34,281,056 Zenith Pure Oil Series “A” Ordinary shares (“Shares”) under the share option agreement executed between ING and Zenith Pure Oil on 20 June 2022 will be either fully cash settled or partly physically and partly cash settled on 23 June 2023.
Simultaneously, Zenith Pure Oil and ING entered into a new share option agreement. According to the new share option agreement Zenith Pure Oil will receive American call options and ING will receive European put options, with the effective date of 27 June 2023. The maturity date of both the call and put options will be 24 June 2024.
The number of physically and cash settled options and the number of call and put options as well as the strike price of the options will be defined based on market data available as of 23 June 2023 and the capital market participants will be informed accordingly.