Serinus Energy PLC — Major Shareholding Notification 2018

Jun 14, 2018

Current Report No. 47/2018Date: 2018-06-14Issuer'strading name: SERINUS ENERGY plc

Title:Notification on indirect acquisition of shares in SerinusEnergy plc as a result of inheritance

Legal basis: Article 70.1 of the Act on Offering - acquisition ordisposal of a significant block of shares

Content:The Management of SERINUS ENERGY plc ("Company"),informs that on June 14, 2018 it received from Ms. Dominika Kulczyk andMr. Sebastian Kulczyk notification dated June 13, 2018 and filed underArticle 69 of the Act of 29 July 2005 on Public Offering, ConditionsGoverning the Introduction of Financial Instruments to Organized Tradingand Public Companies ("Act").

Additionally the Company informs that respective document, preparedunder AIM regulations concerning an indirect acquisition of shares inSerinus Energy plc as a result of inheritance is being disclosed in theUK.

Text of the notification (translation) under Article 69 of the Act

"In performance of the obligation resulting from Art. 69 (1)(1) of theact of 29 July 2005 on Public Offering, the Conditions Governing theIntroduction of Financial Instruments to Organised Trading, and onPublic Companies (consolidated text Journal of Laws of 2018 No. 512)(the "Act"), Sebastian Kulczyk and Dominika Kulczyk hereby inform that,as a result of indirect acquisition on 13 June 2018 of 84,255,927 (say:eighty-four million two hundred fifty-five thousand nine hundredtwenty-seven) shares in Serinus Energy plc (the "Company") they exceededthe threshold of 33 1/3 % (say: thirty-three and one third) of the totalnumber of votes on the Company's shareholders meeting.

The indirect acquisition of shares in the Company was a result ofinheritance, while the shares were handed over and the constitutiveentry into the Cypriot companies' register was made on 13 June 2018.

The basis for the inheritance was the will of Dr Jan Kulczyk executedunder Swiss law. The estate comprised inter alia 100% (say: one hundredpercent) of shares in the company Luglio Limited ("Luglio"), a Cypriotlaw company, being the dominant entity of Kulczyk Investments S.A.("KI"), which holds 84,255,927 (say: eighty-four million two hundredfifty-five thousand nine hundred twenty-seven) shares in the Company,constituting 38.77% (say: thirty-eight and seventy-seven hundredthpercent) of the Company's share capital and authorising to exercise84,255,927 (say: eighty-four million two hundred fifty-five thousandnine hundred twenty-seven) votes on the Company's shareholders meeting,constituting 38.77% (say: thirty-eight and seventy-seven hundredthpercent) of the total number of votes on the Company's shareholdersmeeting. In compliance with Cypriot law the acquisition of the shares inLuglio requires an entry to a relevant register and is effective as ofthe moment of such entry.

On 13 June 2018 in line with the certificated issued by the Ministry ofEnergy, Commerce, Industry and Tourism Sebastian Kulczyk and DominikaKulczyk were entered into the Cypriot companies' register as co-ownersof 100% (say: one hundred percent) of shares in Luglio. In compliancewith Cypriot law Sebastian Kulczyk and Dominika Kulczyk are co-owners of100% (say: one hundred percent) of shares in Luglio, while under Cypriotlaw each of them is considered to own all the shares subject toco-ownership. Further, in line with Cypriot law, in case shares in acompany are subject to co-ownership, one of the co-owners needs to beentered into Cypriot companies' corporate register, as maintained by thecompany's secretary as so called senior shareholder.

Sebastian Kulczyk and Dominika Kulczyk have not entered into anyarrangement pertaining to the manner of exercising their rightsattaching to the shares in Luglio, in particular pertaining to theexercising of voting rights. In case of lack of agreement between theco-owners as to the manner of exercising voting rights attaching to theshares, Cypriot law stipulates that the senior shareholder has a castingvote.

Sebastian Kulczyk and Dominika Kulczyk inform that Sebastian Kulczyk isthe senior shareholder of Luglio.

As required under Art. 69 (4)(2) of the Act Sebastian Kulczyk andDominika Kulczyk inform that prior to the acquisition of shares referredto herein the did not hold (directly or indirectly) any shares in theCompany.

As required under Art. 69 (4)(3) of the Act Sebastian Kulczyk andDominika Kulczyk inform that as at the date hereof each of them holds84,255,927 (say: eighty-four million two hundred fifty-five thousandnine hundred twenty-seven) shares in the Company, constituting 38.77%(say: thirty-eight and seventy-seven hundredth percent) of the Company'sshare capital and authorising to exercise 84,255,927 (say: eighty-fourmillion two hundred fifty-five thousand nine hundred twenty-seven) voteson the Company's shareholders meeting, constituting 38.77% (say:thirty-eight and seventy-seven hundredth percent) of the total number ofvotes on the Company's shareholders meeting.

As required under Art. 69 (4)(5) of the Act Sebastian Kulczyk andDominika Kulczyk inform that they hold the Company's shares referred toherein indirectly, via Luglio and KI. No other subsidiaries of SebastianKulczyk or Dominika Kulczyk hold shares in the Company.

As required under Art. 69 (4)(6) of the Act Sebastian Kulczyk andDominika Kulczyk inform that no person referred to in Art. 87 (1)(3)(c)exists.

As required under Art. 69 (4)(7) of the Act Sebastian Kulczyk andDominika Kulczyk inform that the number of votes calculated in line withArt. 69b (2) of the Act, to the acquisition of which Sebastian Kulczykor Dominika Kulczyk would be entitled or obliged as holders of financialinstruments referred to in Art. 69b (1)(2) of the Act, which areexecuted solely by way of pecuniary settlement is 0 (say: zero).

As required under Art. 69 (4)(8) of the Act Sebastian Kulczyk andDominika Kulczyk inform that the number of votes calculated in line withArt. 69b (3) of the Act, to which the financial instruments referred toin Art. 69b (1)(2) of the Act would be connected is 0 (say: zero)."