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Serinus Energy announces completion of recapitalisation after extraordinary general meeting
StockMarketWire.com
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Oil and gas company Serinus Energy has reported that it can now complete the process of recapitalising the company after all resolutions were passed at the extraordinary general meeting of shareholders on 15 December 2020.
It said that this will leave it free of debt and able to pursue its 'pipeline of identified, near-term opportunities within its existing portfolio of assets'.
Serinus announced that the admission of 728,788,669 placing shares and 59,148,183 subscription shares to trading on AIM is expected to occur on 17 December this year, followed, on 21 December 2020, by the admission of 112,925,402 ordinary shares allotted to EBRD as the final part of the recapitalisation.
It said that Kulczyk Investments has informed it that following the admission of the placing and subscription shares, Kulczyk will own 7.8% of the issued share capital of the company and, as a result, the relationship agreement between Kulczyk and the company, dated 15 May 2018, will terminate in accordance with its terms.
At 2:58pm: (LON:SENX) Serinus Energy Plc Ord Npv share price was 0p at 3.2p
Story provided by StockMarketWire.com
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