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Serinus Energy PLC on Monday said it agreed to a takeover offer by Xtellus Capital Partners Inc, a New York-based broker dealer and specialist investment bank. Serinus, a Romania and Tunisia-focused oil and gas explorer and developer, said the offer values it at £5.1 million, or about 3.40 pence each, or 31% higher than its closing price of 2.6p on Friday. Serinus recommends shareholders to vote in favour of the takeover at a general meeting that is yet to be announced. Serinus Energy shares shot up 26% to 3.29 pence each on Monday afternoon in London, giving it a market capitalisation of £4.9 million. Serinus expects the takeover to become effective in the second quarter of 2025. It is subject to approval by the National Agency for Mineral Resources in Romania, among others. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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