Jadestone Energy PLC Application To Cease to be Reporting in Canada (5112D)
03 Marzo 2022 - 1:01AM
UK Regulatory
TIDMJSE
RNS Number : 5112D
Jadestone Energy PLC
03 March 2022
Jadestone Energy
Application To Cease to be a Reporting Issuer in Canada
3 March 2022 - Singapore: Jadestone Energy plc ("Jadestone" or
the "Company"), an independent oil and gas production company
focused on the Asia-Pacific region, announces that it is applying
to the securities regulatory authorities in the Canadian provinces
of British Columbia and Alberta to cease to be a reporting issuer
in these two jurisdictions.
If granted, such relief would mean that Jadestone is no longer
classified as a designated foreign issuer under Canadian securities
regulations, and would no longer be required to file financial
statements and other continuous disclosure documents with the
Canadian securities regulatory authorities.
This application continues the pivot away from the Company's
legacy Canadian securities market presence, and is justified by the
very low and decreasing level of Canadian based shareholding in the
Company (currently estimated at around 0.09% of issued capital), as
well as significant expected efficiency improvements and cost
reductions. The pivot has, among other steps, already seen the
Company's shares admitted to AIM in August 2018, the Company's
compensation structures realigned from North American to UK norms
in May 2019, the Company's shares delisted from the TSX Venture
exchange in March 2020, the adoption of the UK Quoted Companies
Alliance Corporate Governance Code in place of Canadian governance
norms and practices in December 2020, and the redomicile of
Jadestone's parent company to the UK in April 2021.
Jadestone will continue to comply with all UK regulatory and
disclosure requirements.
For further information, please contact:
Jadestone Energy plc
Paul Blakeley, President and CEO +65 6324 0359 (Singapore)
Phil Corbett, Investor Relations Manager +44 7713 687467 (UK)
ir@jadestone-energy.com
Stifel Nicolaus Europe Limited (Nomad, +44 (0) 20 7710 7600 (UK)
Joint Broker)
Callum Stewart
Jason Grossman
Ashton Clanfield
Jefferies International Limited (Joint +44 (0) 20 7029 8000 (UK)
Broker)
Tony White
Will Soutar
Camarco (Public Relations Advisor) +44 (0) 203 757 4980 (UK)
Billy Clegg jse@camarco.co.uk
James Crothers
About Jadestone Energy
Jadestone Energy plc is an independent oil and gas company
focused on the Asia-Pacific region. It has a balanced, low risk,
full cycle portfolio of development, production and exploration
assets in Australia, Malaysia, Indonesia, Vietnam and the
Philippines.
The Company has a 100% operated working interest in the Stag
oilfield and in the Montara project, both offshore Australia. Both
the Stag and Montara assets include oil producing fields, with
further development and exploration potential. The Company also has
interests in four oil producing licences offshore Peninsula
Malaysia; two operated and two non-operated positions. Further, the
Company has a 100% operated working interest in two gas development
blocks in Southwest Vietnam, and an operated 100% interest
(assuming completion of the Hexindo stake acquisition, as announced
in November 2021) in the Lemang PSC, onshore Sumatra, Indonesia,
which includes the Akatara gas field.
In addition, the Company has executed a sale and purchase
agreement to acquire a 69% operated working interest in the Maari
Project, shallow water offshore New Zealand, and is working with
the seller to obtain final New Zealand government approvals.
Led by an experienced management team with a track record of
delivery, who were core to the successful growth of Talisman's
business in Asia, the Company is pursuing an acquisition strategy
focused on growth and creating value through identifying,
acquiring, developing and operating assets in the Asia-Pacific
region.
Jadestone Energy plc is listed on the AIM market of the London
Stock Exchange. The Company is headquartered in Singapore. For
further information on the Company please visit
www.jadestone-energy.com .
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END
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March 03, 2022 02:01 ET (07:01 GMT)
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