Serinus wants to move HQ to Channel Islands

WSE-listed oil and gas exploration firm Serinus Energy plans to redomicile from Alberta, Canada to Jersey, Channel Islands and will seek shareholders’ approval. The company also mulls dual listing in London. “Serinus intends to seek admission to be traded on the AIM market of the London Stock Exchange, subject to, among other things, market conditions. Once admitted to AIM, the Corporation would delist from the Toronto Stock Exchange but maintain its listing on the Warsaw Stock Exchange,” the company said in a market filing. The company also thinks that such move would be in the best interests of the company. “London and Jersey are more conveniently located in relation to the corporation's financing and other activities in Europe and its principal assets in Romania and Tunisia. Since the corporation has no active commercial connections to Canada, there is no reason for it to be domiciled there and thereby subject to Canadian income and capital gains taxes or for it to bear the compliance costs associated with being a Canadian taxpayer,” the company explained.