Got Questions? We’ve Got Answers!
We understand that many questions arise during the investment process. We hope to provide most of the answers here. If you don’t find what you are looking for, feel free to contact us directly.
You may participate by completing our enrollment form online or sending one by mail to Zion Oil or our Plan Agent.
Current Shareholders. If you have already purchased Zion Oil stock directly from the company, you are considered a current shareholder. To enroll in the DSPP, a full enrollment form must be completed and sent to Zion Oil. Once you have enrolled, your participation will continue automatically until either you elect to withdraw from the Plan or we terminate the Plan or your participation in the Plan.
Beneficial Shareholders. You are a beneficial owner of Zion’s Common Stock if your shares are registered in the name of a bank, broker, trustee or other agent. If you want to enroll in the Plan, complete the enrollment form with your $250 investment. You may also transfer your shares by instructing your bank, broker, trustee or agent to transfer shares into your name. Please include a completed enrollment form with the transfer.
Initial investment. If you are not an existing shareholder with a Plan Account through the Plan Agent, you can make an initial investment in Zion’s Common Stock and/or Units, starting with as little as $250. If you wish to invest $10,000 or more in common stock, you will need to obtain our written approval. Written approval is not required for Unit purchases of $10,000 or more. You can obtain a Request for Waiver form from Zion Oil by calling 888-891-9466 or from our Plan Agent at www.amstock.com.
Additional Investments. Once you are a registered shareholder, additional investments may be made for $50 or more. Participants are not required to make additional investments.
Same Day Transactions. Any payments received before 12 noon ET will generally be recorded as purchased on the same business day. Payments received after 12 noon will generally be recorded as purchased on the next business day.
Automatic Monthly Withdrawals. Automatic monthly ACH withdrawals by our Plan Agent may be set up for Common Stock purchases only, on any checking or savings account. The bank account on file will be debited on the 25th of each month. The stock purchase is recorded on the date of receipt of the funds into the Plan Agent’s or the Company’s bank account.
Online Transactions. You may enroll, invest and reinvest directly through the Zion Oil website. You may also make changes to your account online through our Plan Agent’s website, www.amstock.com.
Automatic Dividend Reinvestment. If we offer dividends in the future, all dividends paid on common stock inside the DSPP will be reinvested fully. For shares of our common stock held outside the DSPP, you can elect to reinvest all or a portion of your dividends. Please be advised that Zion Oil has not yet paid dividends to her shareholders.
Mandatory Share Deposit. Any shares withdrawn from the Plan Account within 6 months after the date of purchase will be subject to a withdrawal penalty. Penalties do not apply to Common Stock purchased as a Unit. Warrants purchased as a part of a Unit may not be withdrawn until such Warrants become available for use, 30 days after the Unit Offering ends.
Shares of Common Stock purchased through the Plan will be sold to you at the average of the high and low sale prices of our Common Stock on NASDAQ. You can see the current price of our Common stock by searching for “ZN” on NASDAQ.com. Please note that shares are issued only after payment is received.
Your Plan account will be credited with the number of shares (including fractional shares, computed to three decimals) equal to the amount invested for your Plan account divided by the applicable price per share.
Fees. Zion Oil absorbs the fees required for managing your stock account and making transactions. There are only a few exceptions. Lost stock certificates will require a fee to replace and the sale of stock includes a fee and commission of sale.
Supporting the Vision. All Plan purchases support the search for oil in Israel, because the shares of stock are purchased directly from Zion from our pool of authorized and unissued Common Stock. Zion has reserved up to 15,000,000 shares of its authorized and unissued shares of Common Stock to purchases under the Plan.
The American Stock Transfer and Trust Co., or AST for short, handles all shareholder services for our Plan, the DSPP. The Agent keeps records, sends statements to participants and performs other duties as required by the Plan.
American Stock Transfer & Trust Company, LLC
Plan Administration Department
P.O. Box 922
Wall Street Station
New York, NY 10269-0560
You will receive confirmation by mail from AST after each account transaction. If purchases are completed from the Zion Oil website, you will also receive payment confirmation by email to the email address you provide. You should retain all account statements for your records. As a shareholder, you will also receive communication directly from Zion Oil to ensure you are informed of the latest company news. These communications are by email unless no email address has been provided. Updates by regular mail are sent quarterly from Zion Oil.
Yes. But because we are not financial advisors and because every IRA/401K is set up differently, we strongly suggest you speak to your plan custodian directly.
Zion Oil & Gas is not responsible for any penalties incurred from investing through Retirement Accounts.
All shares of Zion Oil’s Common Stock and Warrants that are purchased through the Direct Stock Plan will be held by the Plan Agent in book-entry form in your account. There is no cost to you for this service.
You may request that your certificates be mailed to you or transferred to a broker at any time. However, Warrant certificates may only be issued during the 5 year period when your warrants are available for use.
If you hold other Zion Common Stock certificates you may also deposit those certificates with the Plan Agent, at no cost to you. The shares represented by the deposited certificates will not be included in the book-entry form. Note: The certificates should not be endorsed and the assignment section should not be completed.
Only whole shares will be represented in certificate form. If fractional shares are requested, a check representing fractional shares and/or warrants will be sent to you.
If a payment is made by a check drawn on insufficient funds or incorrect draft information, or the Plan Agent otherwise does not receive the money, the requested purchase will be deemed void, and the Plan Agent will immediately remove from your account any shares already purchased upon the prior credit of such funds.
Please be aware that fees incurred by the Plan Agent from the insufficient draft for your stock purchase may be charged back to you, by the sale of stock from your DSPP account, for the total amount of the charge.
Yes. Subject to compliance with all applicable laws, you may transfer ownership of some or all of your Plan shares by sending the Plan Agent written, signed transfer instructions. Transfer paperwork may be found at www.amstock.com. You will be responsible for any applicable taxes in connection with the transfer. New and existing shareholders must sign an enrollment form in order to become a DSPP participant.
A new DSPP account will not be opened as a result of a transfer of fewer than ten (10) shares, unless you (i) authorize the reinvestment of dividends on the shares to be transferred and (ii) include an optional cash payment with your transfer instructions sufficient to purchase the remainder of the ten (10) shares required to enroll.
Registration. To make changes to the name(s) on the account, all existing holders must sign transfer paperwork. The paperwork must have a Medallion Signature Guarantee seal. If stock certificates have been issued, they must be returned to the Plan Agent before they can be reissued with a new registration. For a copy of the necessary paperwork and further instructions please visit www.amstock.com.
Dividend Reinvestment. You may change your dividend selection at any time by completing a new enrollment form and returning it to Zion Oil or our Plan Agent.
Automatic Monthly Withdrawals. Authorization to begin, end or amend a monthly withdrawal for the purchase of Common Stock must be received in writing, with the signatures of all existing holders. Changes can also be made by logging on to your account at www.amstock.com.
You may terminate your participation in the Plan by giving written notice to the Plan Agent or logging on to your online account. Upon termination, you must elect either to receive a certificate for the number of whole shares held in your Plan account or to have all of the shares in your Plan account sold for you.
Certificate. If you elect to receive a certificate, the certificate will be issued for whole shares only. A check for the value of any fractional share will be issued to you. The value of any fractional share will be based on the closing market price of the Common Stock on the first day that the stock is traded after the withdrawal request is received.
Sale. If you request that your shares be sold, the Plan Agent will make the sale in the market, if practicable, within ten (10) trading days after receipt of the request. You will receive the proceeds of sale, less any brokerage commission and transfer tax. Receipt by the Plan Agent of due notice of a participant’s death or incompetence shall be deemed a notice of withdrawal.
When the Plan Agent is authorized to sell shares, neither the Company nor any participant under the Plan has the authority or power to control the timing or pricing of sales, or the selection of the broker dealer making the sales. Therefore, you will not be able to precisely time your sales through the Plan, and will bear the market risk associated with fluctuation in the price of the Company’s Common Stock.
The Plan Agent will process notices of withdrawal and send proceeds to you as soon as practicable, without interest.
Signatures of all registered holders must be “Medallion Guaranteed” by a financial institution participating in the Medallion Guarantee program for all sale requests. The Medallion Guarantee program ensures that the individual signing is in fact the owner as indicated on the participant’s account.
As a DSPP shareholder, you will be sent a proxy statement in connection with each meeting of the Company’s shareholders, together with a proxy card representing the shares registered directly in your name and the whole shares held in your DSPP account. This proxy card, when signed and returned, will be voted as you indicate. If the proxy card is not returned or if it is returned unsigned, the shares will not be voted unless you or a duly appointed representative votes in person at the meeting. If no instructions are indicated on a properly signed and returned proxy card, all of the shares represented by the proxy card will be voted in accordance with the recommendations of the Company’s management.
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