Kulczyk Investments S.A Announces Change in Shares

CALGARY, Alberta, May 18, 2018 (GLOBE NEWSWIRE) -- Kulczyk Investments S.A. ("KI") announces that it has acquired 5,653,272 ordinary shares of no par value ("Serinus Shares") in the capital of Serinus Energy Plc ("Serinus") pursuant to a placing of an aggregate of 66,666,667 Serinus Shares at a price of £0.15 per Serinus Share completed by Serinus on May 18, 2018 (the "Placing").

Prior to the Placing, KI held 78,602,655 Serinus Shares, representing, in aggregate, approximately 52.17% of the issued and outstanding Serinus Shares. As a result of KI's acquisition and the completion of the Placing, KI now holds 84,255,927 Serinus Shares, representing, in aggregate, approximately 38.77% of the issued and outstanding Serinus Shares.

KI agreed to purchase the Serinus Shares to help Serinus fund its ongoing activities. KI may in the future purchase or dispose of Serinus Shares from time to time. The Serinus Shares issued pursuant to the Placing are listed for trading on the AIM market operated by the London Stock Exchange.

As the Serinus Shares were acquired by KI pursuant to the issuance of Serinus Shares from treasury pursuant to the Placing, the requirements in Part 2 of National Instrument 62-104 – Take-Over Bids and Issuer Bids do not apply to the acquisition.

An early warning report relating to the matters discussed herein has been filed on Serinus' profile on the System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com.  A copy of the early warning report can also be obtained by contacting:

Kulczyk Investments S.A
35, avenue Monterey
L-2163 Luxembourg
Luxembourg