Last checked at 12 May 2022 10:42
12 May 2022
Press Release
Voting Results from AGM & Share Consolidation
Jersey, Channel Islands, 12 May 2022 -- Serinus Energy plc ("Serinus" or the "Company") (AIM:SENX, WSE:SEN) is pleased to report that at the Annual General Meeting of shareholders ("AGM") held on 12 May 2022, all resolutions were duly passed. The voting results for the Ordinary Resolutions and Special Resolution presented to shareholders in the Proxy Statement and Notice of Meeting dated 19 April 2022 were as follows:
Voting Results
Ordinary Resolution | Votes For |
| Votes Against |
| Votes Withheld | |||
Number | Percent (%) |
| Number | Percent (%) |
|
| ||
1. Financial Statements | 358,827,794 | 99.57 | 1,557,559 | 0.43 | 1,698,712 | |||
2. Re-appoint L. Redziniak | 356,654,963 | 99.52 | 1,728,803 | 0.48 | 3,700,344 | |||
3. Re-appoint J. Auld | 340,393,093 | 94.45 | 19,990,673 | 5.55 | 1,700,344 | |||
4. Re-appoint J. Causgrove | 356,594,963 | 99.52 | 1,728,803 | 0.48 | 3,760,344 | |||
5. Re-appoint N. Fortescue | 356,398,638 | 99.45 | 1,985,128 | 0.55 | 3,700,344 | |||
6. Re-appoint J. Kempster | 356,394,963 | 99.46 | 1,928,803 | 0.54 | 3,760,344 | |||
7. Re-appoint A. Fairclough | 343,394,963 | 95.82 | 14,988,803 | 4.18 | 3,700,344 | |||
8. Re-appoint Auditors | 355,697,491 | 98.70 | 4,686,275 | 1.30 | 1,700,344 | |||
9. Auditor Remuneration | 355,824,292 | 98.73 | 4,559,474 | 1.27 | 1,700,344 | |||
10. Allot Relevant Securities | 343,363,412 | 95.28 | 17,020,354 | 4.72 | 1,700,344 | |||
.
Special Resolutions | Votes For |
| Votes Against |
| Votes Withheld | ||||
Number | Percent (%) |
| Number | Percent (%) |
|
| |||
11. Pre-emption Rights | 343,149,089 | 95.22 | 17,236,309 | 4.78 | 1,698,712 | ||||
12. Purchase of Own Shares | 356,781,412 | 99.55 | 1,603,986 | 0.45 | 3,698,712 | ||||
13. Consolidation of Shares | 343,600,800 | 95.34 | 16,784,598 | 4.66 | 1,698,712 | ||||
Note: A vote "Withheld" is not a vote in law and is not counted in the calculation of the proportion of the votes "For" and "Against" shown.
Share Consolidation
Resolution 13 authorises the Company to consolidate all the Ordinary Shares on a one for ten basis (the Consolidation). The Consolidation was proposed as the directors consider it in the best interest of the shareholders and the Company's development to have a more manageable number of issued ordinary shares. In addition, the Directors believe the Consolidation will:
• increase the Company share price proportionately and in doing so help improve the market liquidity of, and trading activity in, the Company's shares;
• provide the basis for a narrowing in the market bid and ask share price spread in the Company's shares; and
• overall, further enhance the perception of the Company and its prospects and help improve the marketability of the Company's shares to a wider group of potential investors.
The timetable of the Consolidation is as follows:
• Upon implementation of the Consolidation, shareholders on the register of members of the Company on 6:00 p.m. (BST) on 16 May (the Consolidation Record Date), will exchange every 10 Existing Ordinary Shares that they hold for one Consolidated Ordinary Share.
• It is expected that the Consolidated Ordinary Shares arising as a result of the Consolidation from Existing Ordinary Shares held in uncertificated form will be credited to CREST accounts at 8:00 a.m. (BST) on 17 May 2022.
All defined terms used in this announcement have the meanings set out in the Company's Notice of AGM dated 19 April 2022, which will be available on the Company's website: https://serinusenergy.com/shareholder-information/ .
About Serinus
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 Jeffrey Auld, Chief Executive Officer Andrew Fairclough, Chief Financial Officer Calvin Brackman, Vice President, External Relations & Strategy | +44 204 541 7859 |
Shore Capital (Nominated Adviser & Joint Broker) Toby Gibbs / John More (Corporate Advisory)
|
+44 207 408 4090 |
Arden Partners plc (Joint Broker) Ruari McGirr (Corporate Finance) Alexandra Campbell-Harris (Corporate Finance) | +44 207 614 5900 |
Camarco (Financial PR - London) Owen Roberts Phoebe Pugh | +44 203 781 8334 |
TBT i Wspólnicy (Financial PR - Warsaw) Katarzyna Terej | +48 602 214 353 |
Translation: This news release has been translated into Polish from the English original.
Forward-looking Statements This release may contain forward-looking statements made as of the date of this announcement with respect to future activities that either are not or may not be historical facts. Although the Company believes that its expectations reflected in the forward-looking statements are reasonable as of the date hereof, any potential results suggested by such statements involve risk and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. Various factors that could impair or prevent the Company from completing the expected activities on its projects include that the Company's projects experience technical and mechanical problems, there are changes in product prices, failure to obtain regulatory approvals, the state of the national or international monetary, oil and gas, financial , political and economic markets in the jurisdictions where the Company operates and other risks not anticipated by the Company or disclosed in the Company's published material. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties and actual results may vary materially from those expressed in the forward-looking statement. The Company undertakes no obligation to revise or update any forward-looking statements in this announcement to reflect events or circumstances after the date of this announcement, unless required by law.