Pricing Anomaly between London and Warsaw listings

Source: www.gulfoilandgas.com 2/5/2021, Location: Europe

The directors of Serinus Energy plc ("Serinus") (SEN) note that recently a significant difference has developed between the prices at which shares in the Company are trading on the London and Warsaw stock exchanges. Shares on both exchanges have the same International Security Identification number ("ISIN") JE00BF4N9R98 and participate equally in the profits of the Company. Regulatory information is notified to both exchanges at the same time, and the directors confirm that the Company has notified all price sensitive information required by securities regulation in both jurisdictions.

The Warsaw Stock Exchange is a Recognised Investment Exchange whereas AIM is a Multilateral Trading Facility; the former requires a prospectus for the admission of securities whereas the latter does not. While the Company produced a prospectus, available on the Company's website and dated 26 September 2014, admitting 38,479,608 shares to trading in Warsaw, it has not been updated since. In total 78,629,941 shares have been admitted to trading in Warsaw. This means that whilst all 1,140,660,629 issued and outstanding shares of the Company are eligible to be traded on AIM only 78,629,941 of these shares are eligible to be traded on the Warsaw Stock Exchange.


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