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LONDON - Serinus Energy plc shareholders have voted in favor of the company’s acquisition by Xtellus Capital Partners (WA:CPAP), Inc., a transaction initially announced on March 24, 2025. The approval, obtained during a Court Meeting and a subsequent General Meeting held today, moves the acquisition process forward under the terms of a scheme of arrangement as per Jersey law.
The shareholders of Serinus, an energy company, cast their votes on the scheme, which proposed a cash offer by Xtellus to acquire all issued and to be issued share capital of Serinus at 3.4 pence per share. With 106,791,136 Serinus shares eligible to vote at the Court Meeting, 89.77% of the votes were cast in favor of the acquisition, while 10.23% were against it.
The General Meeting followed, seeking approval for the resolution to implement the scheme and associated amendments to the company’s articles of association. The resolution passed with 91.74% of the votes cast in support and 8.26% against, out of the total 98,520,830 Serinus shares voted.
The completion of the acquisition remains contingent on several conditions, including court sanction and regulatory approvals. A Court Sanction Hearing is scheduled for 2:30 p.m. (BST) on May 15, 2025, with the Scheme Record Time set for 6 p.m. (BST) on May 16, 2025. If all conditions are met, the effective date of the scheme is expected to be May 19, 2025, followed by the suspension and cancellation of Serinus shares from trading on the AIM market of the London Stock Exchange (LON:LSEG) and the Warsaw Stock Exchange on May 19 and May 20, respectively.
This acquisition marks a significant step for both Serinus and Xtellus, with the latter set to expand its portfolio in the energy sector. The information provided in this article is based on a press release statement.
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