ZEN and AWY Announced The Change Of Interests Of Substantial Holders

Zenith Energy Limited (ASX: ZEN) announces the change of interests of the substantial holder in accordance with section 671B of the Corporations Act 2001 on 25 January 2019. The interests of ZEN’s substantial holder TIGA Trading Pty Ltd. before the notice included 9,734,296 fully paid ordinary shares with the voting power of 9.93%. The present notice with effect from 22 January 2019 reflects 8,649,296 fully paid ordinary shares with the voting power of 8.83%.

According to ZEN’s announcement on 29 November 2018, there was a change of interests of the substantial holder in accordance with section 671B of the Corporations Act 2001. The interests of ZEN’s substantial holder THORNEY OPPORTUNITIES Ltd. before the notice included 11, 034, 609 fully paid ordinary shares with the voting power of 11.26 %. The present notice with effect from 23 November 2018 reflects 9,734,296 fully paid ordinary shares with the voting power of 9.93%. 

On 21 November 2018, ZEN announced that its wholly-owned subsidiary, Zenith Pacific (JUN) Pty Ltd, has executed an amendment to the PPA with North Star Resources, to add a further 6MW of installed capacity in the Power Station at the Northern Star’s Jundee Project. Under the amended terms of the PPA, ZEN will build, own and operate, an expanded 24MW power station to reliably and efficiently service the power needs of the Jundee Project, located in the Northern Goldfields region of Western Australia, around 45kms northeast of Wiluna and approximately 52 km of Kalgoorlie.

Australian Whiskey Holdings Limited (ASX: AWY) on 25 January 2019 announced the change of interests of its substantial holder Ace Cosmo Developments Limited (BVI Company No.1980573) (“ACDL”), effective from 23 January 2019. Before the notice, Ace Cosmo Developments had 121,951, 219 Fully paid ordinary shares with the voting power of 7.71% (based on 1,581,798,954 AWY Shares on the issue). The present notice reflects 142,451,219 shares with the voting power of 8.74% (based on 1,630,579,441 AWY Shares on the issue).

On 18 December 2018 AWY announced that they had settled the repayment of $4,810,000 of principal loans to Bannanacoast Community Credit Union Ltd and Dowd Corporate Finance Pty Ltd. The loans were required to settle the purchase of the Nant Estate in Bothwell, Tasmania. The repayments of these loans were made from the proceeds of the capital raising announced by the company on 6 November 2018 that raised 11, 946, 049.

Terry Cuthbertson, chairman of the company, was happy with the support they received from existing and the new shareholders of the company to facilitate the repayment of an expiring debt profile. He said that AWY continues to have a positive support base from its shareholders. It has enabled the company to reposition its balance sheet to support the future growth plans of the business.

The shares of ZEN were trading at A$0.680, and AWY at $0.045 as on 25th January 2019.


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