JERSEY, Channel Islands, May 18, 2018 (GLOBE NEWSWIRE) -- Serinus Energy Plc (“Serinus” or the “Company”) (TSX:SEN)(AIM:SENX)(WARSAW:SEN), the international upstream oil and gas exploration and production company that owns and operates projects in Tunisia and Romania is pleased to announce that at 8.00am today its entire issued share capital was admitted to trading on AIM.
The Placing announced on 15 May 2018 has closed successfully, resulting in the issue of 66,666,667 new ordinary shares of no par value in the Company at 15 pence per share, raising aggregate gross proceeds for the Company of approximately £10 million.
The Company’s total number of shares in issue following Admission is 217,318,805.
Voluntary delisting from the Toronto Stock Exchange
The Company also announces that it has applied for a voluntary delisting of its ordinary shares from the Toronto Stock Exchange (“TSX”) in Canada (the “Delisting”). The Company intends to voluntarily delist from the TSX post-market on May 22, 2018, retaining its listings on the Warsaw Stock Exchange and AIM.
The Company believes that the relatively low trading volume of its shares on the TSX over a sustained period no longer justifies the financial and administrative costs associated with maintaining a TSX listing.
Shareholders of the Company (the “Shareholders”) currently hold shares of the Company (the “Shares”) in physical certificated form or through the Canadian Depositary for Securities (“CDS”). Following the Delisting, Shareholders wishing to trade their Shares on AIM will require that such shares are made eligible to be transferred and settled though CREST, the United Kingdom based share transfer and settlement system. Shares cannot be transferred and settled through CREST until a Shareholder’s CDS Participant broker or the Shareholder, if the Shares are held in certificated form, as applicable, validly instructs Computershare Trust Company of Canada (“Computershare”) to arrange for the Shares to be held by a CREST participant broker. This can be done by completing a ‘Register Removal Request – Canada to Jersey’ form, with valid CREST participant account details, and submitting such form to Computershare via email at email@example.com.
For any questions on this process please contact Computershare’s global transaction unit by phone at +1 (877) 624-5999. The Company intends to maintain CDS eligibility for its shares until June 29, 2018 in order to allow Shareholders time to complete the process contemplated above.
The Company encourages Shareholders who hold Shares through a CDS participant broker to contact their broker for further information on the foregoing.
Serinus is an international upstream oil and gas exploration and production company that owns and operates projects in Tunisia and Romania.
For further information, please refer to the Serinus website (www.serinusenergy.com) or contact the following:
Serinus Energy Plc +1-403-264-8877
Jeffrey Auld, Chief Executive Officer
Calvin Brackman, Vice President, External Relations & Strategy
Numis Securities Limited +44 (0) 20 7260 1000
(Nominated Adviser and Joint Broker)
GMP FirstEnergy +44 (0) 20 7448 0200
Forward Looking Statement Disclaimer
This news release includes forward looking information and statements within the meaning of securities laws. Such statements relate to the Corporation’s or management’s objectives, projections, estimates, expectations, or predictions of the future and can be identified by words such as “plans”, “assumes”, “will”, “anticipate” and “may” or variations of such words. These statements are based on certain assumptions and analyses by the Corporation that reflect its experience and understanding of future developments. Such statements are subject to a number of uncertainties, including, but not limited to, delisting from the Toronto Stock Exchange and continued listing on the Warsaw Stock Exchange and AIM, the Corporation’s ability to realize the anticipated benefits of the delisting and other factors identified in the Corporation’s filings with regulatory authorities in Canada. Many of these uncertainties are beyond the Corporation’s control and, therefore, may cause actual actions or results to differ from those expressed or implied herein. The Corporation disclaims any intention or obligation to update or revise any forward looking statements, whether as a result of new information, future events or otherwise, unless required by law.