Serinus Energy plc (LON:SENX) has announced that its preliminary results for 2020 will be published on 26 March 2021. By the 26 March 2021 the Company will have completed its 2020 year-end audit process and BDO LLP will issue its audit opinion.
Following the United Kingdom leaving the European Union on 1 January 2021, it has become necessary for any audit firm reporting on a company listed on a European regulated exchange to be approved by that relevant EU competent authority.
As Serinus is dual listed on both AIM and the Warsaw Stock Exchange, which is an EU regulated market, its auditor, BDO, is required to be approved by the Polska Agencja Nadzoru Audytowego (“PANA”) as a third country auditor. BDO submitted its application for registration in January 2021, at the earliest opportunity, but has yet to receive approval of its registration as a third country auditor recognised by the WSE.
According to Article 205 sec. 3 of the Polish Act of 11 May 17 on Statutory Auditors, Auditors Firms and Public Oversight an opinion of an independent statutory auditor prepared by an auditor from a third country that has not been registered on the list of auditors from the third countries kept by PANA has no legal status in Poland. As of the date of this announcement there are no auditors from a third country registered on the aforementioned list in Poland and consequently there are no registered audit firms whose opinion of the Company’s Annual Report would meet both Jersey and Polish law requirements.
Upon the approval and registration of BDO by PANA, Serinus will be able to release its audited Annual Report for 2020, which will include the BDO audit opinion. It is for this reason that the Company will release preliminary results on 26 March 2021 in place of the 2020 Annual Report.
With reference to the current report No. 2/2021 of 14 January 2021, the Management of Serinus Energy plc hereby announces that the Annual Report of Serinus for 2020, originally scheduled for disclosure on 26 March 2021, will be published on 30 April 2021.
The Management of the Company announces that the dates of publication of the Company’s interim financial reports for the financial year 2021 remain unchanged.
