Serinus Energy PLC — Capital/Financing Update 2020

Nov 27, 2020

Current Report No. 29/2020Date: 2020-11-27Issuer'strading name: SERINUS ENERGY plc

Title:Oversubscribed fundraise of USD21 million, Notice of GeneralMeeting and Total voting rights

Legal basis: Article 17 (1) MAR - inside information

Content:Serinus Energy plc ("Serinus" or "Company")announces that following the accelerated bookbuild which was announcedat 4.35 p.m. on 26 November 2020, the Company has conditionally raisedgross proceeds of USD21 million through the oversubscribed placing of787,936,852 Placing Shares and Subscription Shares, both at a price of 2pence per new Ordinary Share.

Directors - Jeffrey Auld, Andrew Fairclough and Eleanor Barker haveagreed to subscribe for Subscription Shares at the Placing Price. Thenumber of Subscription Shares subscribed for by Jeffrey Auld, AndrewFairclough and Eleanor Barker pursuant to the Subscription, and theirresulting shareholding on Admission, is set out in the attachment tothis report.

Moreover Serinus informs that a Circular explaining the background toand reasons for the Placing and Subscription and containing the Noticeof General Meeting, which will take place at 10.00 a.m. on 15 December,is expected to be posted to shareholders today. A copy of the Circularand Notice of General Meeting will thereafter be made available on theCompany's website: www.serinusenergy.com.The further terms andconditions of the Placing and subscription are set out in the Company'sannouncement at 4.35 p.m. yesterday.

Completion of the Placing and Subscription remains subject, inter alia,to the passing of the Resolutions at the General Meeting and toAdmission of the New Ordinary Shares. It is expected that dealings inthe New Ordinary Shares will commence at 8.00 a.m. on 17 December 2020.

Following Admission, the total number of Ordinary Shares and votingrights in the Company will be 1,027,735,227. The Company does not holdany shares in treasury. The above figure may be used by Shareholders asthe denominator for the calculations by which they will determine ifthey are required to notify their interest in, or a change to theirinterest in, the share capital of the Company under the FCA's Disclosureand Transparency Rules.

The Company also publishes, attached hereto, the full text of thedocument (in English and Polish translation), which has been filed bythe Company in the UK and will also be available on Company's website atwww.serinusenergy.com

NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, IN WHOLE OR IN PART,DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA(INCLUDING ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITEDSTATES AND THE DISTRICT OF COLUMBIA), AUSTRALIA, CANADA, JAPAN, NEWZEALAND OR SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFULTO DISTRIBUTE THIS ANNOUNCEMENTTHIS ANNOUNCEMENT IS FOR INFORMATIONPURPOSES ONLY AND DOES NOT CONSTITUTE OR CONTAIN ANY INVITATION,SOLICITATION, RECOMMENDATION, OFFER OR ADVICE TO ANY PERSON TO SUBSCRIBEFOR, OTHERWISE ACQUIRE OR DISPOSE OF ANY SECURITIES IN SERINUS ENERGYPLC OR ANY OTHER ENTITY IN ANY JURISDICTION. NEITHER THIS ANNOUNCEMENTNOR THE FACT OF ITS DISTRIBUTION, SHALL FORM THE BASIS OF, OR BE RELIEDON IN CONNECTION WITH ANY INVESTMENT DECISION IN RESPECT OF SERINUSENERGY PLC.