Zenith Energy Ltd. Delisting from the TSX-V
TheNewswire - May 25, 2020 - Zenith Energy Ltd. ("Zenith" or the "Company") (LSE:ZEN) (TSXV:ZEE) (OSE:ZENAME), the listed international oil & gas production company focused on pursuing African development opportunities, announces that it is in the process of obtaining final approval from the TSX Venture Exchange ("TSX-V") to complete its voluntary delisting (the "Delisting").
Zenith has provided initial notice of the Delisting and its rationale for this decision in a press release dated April 22, 2020.
It is expected that the common shares of the Company (the "Shares") will be delisted from the TSXV at the close of trading on May 29, 2020 with the Shares continuing to trade on Main Market of the London Stock Exchange (the "LSE") and the Merkur Market of the Oslo Stock Exchange (the "Merkur Market").
Implications of the delisting for shareholders on the Canadian register
Shareholders of the Company (the "Shareholders") currently hold Shares in physical certificated form or through the Canadian Depositary for Securities ("CDS"). Following the Delisting, Shareholders wishing to have depository interests ("DIs") in respect of their holdings in order to trade their Shares on the LSE will require that such shares are made eligible to be transferred and settled though CREST, the United Kingdom based share transfer and settlement system. Shares cannot be transferred and settled through CREST until a Shareholder's CDS Participant broker or the Shareholder, if the Shares are held in certificated form, as applicable, validly instructs Computershare Trust Company of Canada ("Computershare") to arrange for the Shares to be held by a CREST participant broker/nominee.
CDS participants or those with Shares held by a broker within CDS, who wish to have DIs issued in respect of their holdings, should arrange for the CDS participant or broker to complete and submit a Computershare xSettle Electronic Instruction or a "Register Removal Request - CDS Withdrawals to UK Depositary Interests" form to Computershare for the issue of DIs to their broker/nominee in CREST. Shareholders who hold their Shares through a Canadian broker are encouraged to contact their broker to arrange for this to happen.
Registered shareholders with Shares held in certificated form who wish to have DIs issued in respect of their holdings, will need to open an account with a CREST broker/nominee and complete a "Register Removal Request - Canadian Certificate to UK Depositary Interests" form and submit it to Computershare together with the original Canadian share certificate(s). Alternatively, Canadian share certificates can be submitted to the CREST broker/nominee for them to arrange the issuance and deposit of the DIs into CREST.
These forms are available from: https://www-us.computershare.com/Investor/help/PrintableForms and may be submitted to Computershare via email at firstname.lastname@example.org.
For any questions on this process please contact Computershare by phone at 1-800-564-6253. The Company intends to maintain CDS eligibility for its shares to allow Shareholders time to complete the process contemplated above.
Until the transfer of Shares is effected, Shareholders on the Company's Canadian register and beneficial shareholders holding their securities through a CDS participant broker will not be able to trade their holdings on the LSE and their Shares will remain on the Canadian Share register.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release