Serinus Energy Regulatory News (SENX)

JERSEY, Channel Islands, May 18, 2018 (GLOBE NEWSWIRE) -- Serinus Energy plc (“Serinus”, “SEN” or the “Company”) (AIM:SENX) (TSX:SEN) (WSE:SEN), today announces that Mr. Dominik Libicki has resigned from the Board of Directors of the Company (the “Board”) and Ms. Tracy Heck has been appointed to the Board.

Mr. Libicki’s resignation is in accordance with the terms of the relationship deed between Kulczyk Investments SA (“KI”), the Company and Numis Securities Ltd. whereby KI has agreed to appoint a prescribed number of directors to the Board based upon requisite shareholding thresholds set out in the relationship deed. The recent equity raise has resulted in KI now holding 38.77% of the ordinary shares of the Company, precipitating the requirement that KI reduce the number of appointments to the Board from three to two.

Ms. Heck, Chief Financial Officer of the Company since 2014, is a Chartered Accountant, qualified in both England and Canada, with over 25 years of financial experience. She will be an executive director on the Board. The disclosures required by the AIM Rules in relation to Ms Heck’s appointment were made in the Schedule One Appendix published by the Company on 15 May 2018. No further information regarding Ms Heck is required to be disclosed under Schedule 2(g) of the AIM Rules for Companies. Ms Heck holds no shares in the Company. 

The Board expresses its profound gratitude to Mr. Libicki for his diligent years of service and welcomes Ms. Heck to the Board.

About SerinusSerinus 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:

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Forward Looking Statement DisclaimerThis 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.