Release of Preliminary Results

RNS Number : 0047T

Serinus Energy PLC

22 March 2021

 

22 March 2021

Press Release

Release of Preliminary Results

Jersey, Channel Islands, 22 March 2021 -- Serinus Energy plc ("Serinus" or the "Company") (AIM:SENX, WSE:SEN) announces that its preliminary results for 2020 will be published on 26 March 2021. By the 26 March 2021 the Company will have completed its 2020 year-end audit process and BDO LLP ("BDO") will issue its  audit opinion.

Following the United Kingdom leaving the European Union ("EU") on 1 January 2021, it has become necessary for any audit firm reporting on a company listed on a European regulated exchange to be approved by that relevant EU competent authority.

As Serinus is dual listed on both AIM and the Warsaw Stock Exchange ("WSE"), which is an EU regulated market, its auditor, BDO, is required to be approved by the Polska Agencja Nadzoru Audytowego ("PANA") as a third country auditor. BDO submitted its application for registration in January 2021, at  the earliest opportunity, but has yet to receive approval of its registration as a third country auditor recognised by the WSE.  

According to Article 205 sec. 3 of the Polish Act of 11 May 17 on Statutory Auditors, Auditors Firms and Public Oversight an opinion of an independent statutory auditor prepared by an auditor from a third country that has not been registered on the list of auditors from the third countries kept by PANA has no legal status in Poland. As of the date of this announcement there are no auditors from a third country registered on the aforementioned list in Poland and consequently there are no registered audit firms whose opinion of the Company's Annual Report would meet both Jersey and Polish law requirements.

Upon the approval and registration of BDO by PANA, Serinus will be able to release its audited Annual Report for 2020, which will include the BDO audit opinion. It is for this reason that the Company will release preliminary results on 26 March 2021 in place of the 2020 Annual Report.

With reference to the current report No. 2/2021 of 14 January 2021, the Management of Serinus Energy plc hereby announces that the Annual Report of Serinus for 2020, originally scheduled for disclosure on 26 March 2021, will be published on 30 April 2021.

The Management of the Company announces that the dates of publication of the Company's interim financial reports for the financial year 2021 remain unchanged.

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	[phone]
A rden Partners plc (Nominated Adviser & Joint Broker) Paul Shackleton / Dan Gee-Summons (Corporate Finance) Tim Dainton (Equity Sales)	[phone]
Shore Capital Stockbrokers Limited (Joint Broker) Toby Gibbs / John More (Corporate Advisory) Jerry Keen (Corporate Broking)	[phone]
Camarco (Financial PR - London) Billy Clegg Owen Roberts	[phone]
TBT i Wspólnicy (Financial PR - Warsaw) Katarzyna Terej	[phone]

Forward Looking Statement Disclaimer

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.

Translation : This news release has been translated into Polish from the English original.

 

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