Serinus Energy plc (LON:SENX, WSE:SEN) has announced that Shore Capital and Corporate Limited has been appointed as nominated adviser with immediate effect. Shore Capital Stockbrokers Limited and Arden Partners Plc will remain joint brokers.
Further to the announcements by Arden Partners Plc on 11 and 14 April 2022 regarding the loss of its nominated adviser status upon the completion of its recommended takeover, the Company has appointed Shore Capital as its nominated adviser. Given the timing of the completion of the recommended takeover of Arden Partners Plc, the Exchange has agreed that subject to initial due diligence being undertaken, Shore Capital has until 5pm on 27 July 2022 to complete its full due diligence.
There can be no guarantee on the outcome of the full due diligence and its impact on Shore Capital’s decision to continue to act as nominated adviser. Accordingly, in such circumstances there is a risk that if Shore Capital does not continue to act as nominated adviser following completion of its full due diligence and the Company has not found an alternative nominated adviser, the Company’s AIM securities may be suspended pursuant to AIM Rule 1. If within one month of that suspension, the Company has failed to appoint a replacement nominated adviser, the admission of its AIM securities will be cancelled.
Notwithstanding the extension of time provided in respect of completing full due diligence obligations at engagement, Shore Capital will continue to be subject to all the ongoing nominated adviser responsibilities under the AIM Rules for Nominated Advisers.
Serinus Energy is an international upstream oil and gas exploration and production company that owns and operates projects in Tunisia and Romania.