Stock Option Price Conversion

RNS Number : 6905H

Serinus Energy PLC

19 November 2018

 

SERINUS ENERGY PLC

STOCK OPTION PRICE CONVERSION

Jersey, Channel Islands, November 19, 2018 -- Serinus Energy plc ("Serinus", "SEN" or the "Company") (AIM:SENX, WSE:SEN), announces that following the continuance of the Company to Jersey, Channel Islands and the admission of the Company's shares to trading on the AIM market of the London Stock Exchange, the Company's Board of Directors have approved the conversion of the strike price of the outstanding stock options of senior executives and staff from Canadian Dollars per share to Pound Sterling per share. This strike price conversion was set using the GBP/CAD exchange rate at the date of the continuance, this being 03 May 2018.

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                                                     [phone]

Jeffrey Auld, Chief Executive Officer

Calvin Brackman, Vice President, External Relations & Strategy

Numis Securities Limited                                           [phone]

(Nominated Adviser and Joint Broker)

John Prior

Paul Gillam

Ben Stoop

GMP FirstEnergy                                                        [phone]

(Joint Broker)

Hugh Sanderson

Jonathan Wright

Camarco                                                                    [phone]
(Financial PR - London)
Billy Clegg
Owen Roberts

TBT i Wspólnicy                                                         [phone] 

(Financial PR - Warsaw)

Piotr Talarek

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.

1	Details  of  the  person  discharging  managerial  responsibilities  /  person  closely associated Reason for the notification
a)	Name		Jeffrey Auld Tracy Heck Calvin Brackman Alexandra Damascan
2	Reason for the notification
a)	Position/status		Jeffrey Auld (Chief Executive Officer) Tracy Heck (Chief Financial Officer) Calvin Brackman (VP, External Relations & Strategy) Alexandra Damascan (President, Serinus Energy Romania SA)
b)	Initial notification /Amendment		Initial Notification
3	Details of the issuer,  emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name			Serinus Energy Plc
b)	LEI			549300W183KUX62DVI32
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of  the financial instrument, type of instrument Identification code			Ordinary Shares of no par value   JE00BF4N9R98
b)	Nature of the transaction			Change of strike price of options following delisting from Toronto Stock Exchange and listing on AIM
c)	Price(s) and volume(s)	PDMR Volume Previous strike price (C$) New strike price (GBP) Jeffrey Auld 3,500,000 0.32 0.18 1,000,000 0.37 0.21 Tracy Heck 2,750,000 0.37 0.21 Calvin Brackman 750,000 0.37 0.21 Alexandra Damascan 250,000 0.37 0.21
d)	Aggregated information - Aggregated volume - Price	PDMR Volume Total aggregate strike value at previous strike price (C$) Total aggregate strike value at new strike price (GBP) Jeffrey Auld 4,500,000 1,490,000 840,000 Tracy Heck 2,750,000 1,017,500 577,500 Calvin Brackman 750,000 277,500 157,500 Alexandra Damascan 250,000 92,500 52,500
e)	Date of the transaction	09 October 2018
f)	Place of the transaction	Off Market

 

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