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Serinus Energy shareholders approve share allotment

Published 09/01/2025, 12:20

SQZ
1.97%

JERSEY, Channel Islands - Serinus Energy PLC (LSE:SENX) announced today that its shareholders have approved a special resolution to allot ordinary shares and dis-apply pre-emption rights during the General Meeting held on Thursday. The resolution was passed with 93.54% of votes in favor and 6.46% against, with no votes withheld.

The company, which engages in upstream oil and gas exploration and production, has operations in Tunisia and Romania. The resolution allows Serinus Energy to issue new shares without offering them first to existing shareholders, a move that can potentially dilute current ownership but also provide the company with a mechanism to raise capital more swiftly.

The specific terms of the resolution, such as the number of shares to be allotted or the timeline for the issuance, were not disclosed in the press release statement. The resolution's approval indicates shareholder support for the company's strategy and management decisions.

This corporate action may be of interest to investors as it could affect the company's capital structure and share value. The approval of such measures is often seen as a sign of trust in a company's future prospects and management's plans for growth.

The press release did not elaborate on the intended use of the funds that may be raised from the allotment of new shares. It is common for companies in the energy sector to seek additional capital to fund exploration projects, development of existing assets, or acquisitions.

Serinus Energy is listed on the London Stock Exchange (LON:LSEG), and its activities in oil and gas exploration and production are subject to the fluctuations of the global energy markets. The outcome of the General Meeting is based on a press release statement and reflects the formal voting results as recorded.

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