Zenon Petroleum officials recently met with Zenith Bank Plc representatives to discuss reconciliation issues in the downstream petroleum company's shareholding in the financial institution.

The key issues raised include:

• Shareholding of Zenon as of December 31st, 2011.
• N205m Debit in Zenon Account
• Mandate to Move Luzon’s 370,000 Units of Zenith Bank Shares to MBS Securities
• Schedule of Securities – Zenon House Moved to AMCON
• Balance in Sea force Account

This is in line with resolving outstanding issues around the shares of Zenon managed by Veritas registrars in Zenith Bank.

Proshare News will continue to monitor the developments and provide further updates.