The latest announcement is out from Zenith Energy ( (GB:ZEN) ).
Zenith Energy Ltd. has successfully completed a private placement and debt settlement, raising approximately £2.888 million by issuing 30,316,359 new common shares at a 22% discount. The proceeds will support general working capital and fund legal arbitrations against the Republic of Tunisia. The participation of existing investors and directors, including CEO Andrea Cattaneo, demonstrates strong internal confidence in the company’s strategic direction. This move aims to strengthen Zenith’s financial position and market value without the need for additional equity capital raising before an upcoming arbitration decision.
More about Zenith Energy
Zenith Energy Ltd. is an independent energy company focused on energy production, exploration, and development with assets in North Africa, the US, and Europe. Listed on multiple exchanges including the London Stock Exchange Main Market, the company pursues development opportunities in revenue-generating energy production assets and engages in low-risk exploration activities.
YTD Price Performance: 109.47%
Average Trading Volume: 2,532,236
Technical Sentiment Consensus Rating: Sell
Current Market Cap: £20.04M
See more data about ZEN stock on TipRanks’ Stock Analysis page.