Settlement of the current option agreement and entering into a new transaction with ING Bank
Zenith Pure Oil and Gas Public Limited Company (“Zenith Pure Oil“) hereby informs the capital market’s participants, that it has agreed with ING Bank N.V. (“ING”), that the option rights arising out of the share option agreement concluded between them on 24 November 2015, regarding 5,220,000 Zenith Pure Oil Series “A” Ordinary shares, will be cash settled in respect of 4,863,101 number of options and physically settled in respect of 356,899 number of options on 28 November, 2016. The strike price for settlement is EUR 42.8654 per share.
Zenith Pure Oil and ING concluded a new share option transaction on 24 November, 2016 whereby as a result of the transactions, Zenith Pure Oil received American call options and ING received European put options regarding 4,863,101 Zenith Pure Oil Series “A” Ordinary shares. The maturity of the options is 1 year. The strike price of both call and put options is EUR 60.22309 per one share.
As a result of the transactions Zenith Pure Oil Plc. will directly and indirectly own 7,914,159 „A” series and 578 „C” series Zenith Pure Oil ordinary shares.