News: ZEN Zenith Energy Updates On Scheme For Proposed Acquisition By Elemental

July 13 (Reuters) - Zenith Energy Ltd (ZEN) :

• UPDATES ON PROPOSED SCHEME OF ARRANGEMENT FOR PROPOSED ACQUISITION OF ZENITH BY ELEMENTAL INFRASTRUCTURE BIDCO
• OVERWHELMINGLY MAJORITY OF SHAREHOLDERS VOTED IN FAVOUR OF SCHEME, BUT A SUBSTANTIAL SHAREHOLDER HAS VOTED AGAINST IT
• CO'S INDEPENDENT BOARD COMMITTEE CONTINUES TO UNANIMOUSLY RECOMMEND THAT ZENITH SHAREHOLDERS VOTE IN FAVOUR OF SCHEME
• INDEPENDENT EXPERT CONCLUDED SCHEME IS FAIR & REASONABLE IN ABSENCE OF A SUPERIOR PROPOSAL
• TOTAL SCHEME CONSIDERATION OF $1.01 IS TOP END OF $0.89 TO $1.02 RANGE DETERMINED BY INDEPENDENT EXPERT