Jadestone Energy Inc. Court Approval of Reorganisation & AIM Admission (4180W)
23 Abril 2021 - 1:00AM
UK Regulatory
TIDMJSE
RNS Number : 4180W
Jadestone Energy Inc.
23 April 2021
Jadestone Energy
Court Approval of Reorganisation and
AIM Admission of Jadestone Energy plc Expected on 26 April
2021
23 April 2021-Singapore: Jadestone Energy Inc. (AIM:JSE) (the
"Company" or "Jadestone Canada"), an independent oil and gas
production company focused on the Asia Pacific region, is pleased
to provide an update on the Company's proposed internal
reorganisation (the "Reorganisation").
The Supreme Court of British Columbia (the "Court") has approved
the plan of arrangement under the British Columbia Business
Corporations Act (the "Arrangement"), and this will become
effective on 23:59 (PDT) on 23 April 2021.
Pursuant to the Arrangement becoming effective, Jadestone Energy
plc ("Jadestone UK"), through a wholly-owned subsidiary, will
acquire all of the issued and outstanding common shares in the
capital of Jadestone Canada in exchange for new ordinary shares in
Jadestone UK, on a one-for-one basis. As a result of the
Arrangement, Jadestone Canada will become a wholly-owned subsidiary
of Jadestone UK. Jadestone Canada Shares will be cancelled from
trading on AIM immediately prior to the Jadestone UK Shares being
admitted to trading on AIM.
Application has been made for Jadestone Energy plc's 463,649,477
Ordinary Shares to be admitted to trading on AIM ("Admission"). It
is expected that Admission will occur at 08:00 (BST) on 26 April
2021.
The Reorganisation will not result in a change in control in the
ultimate holding company of the Jadestone Group and, accordingly,
will not result in a change in control in the ultimate shareholding
in any of the companies or assets of the Jadestone Group. Further,
the Reorganisation will not result in a change in the management of
any of the Jadestone Group's companies or assets.
Further details of the Arrangement are set out in the press
release and the management information circular of the Company
dated 22 March 2021, each available on the Company's website and
under the Company's corporate profile on SEDAR at www.sedar.com
.
Expected timetable of key dates for the Arrangement
Last date and time of trading of the 23 April 2021 at 16:30 (BST), 08:30 (PDT).
Jadestone Canada Shares on AIM:
Effective Time of the Arrangement 23 April 2021 at 23:59 (PDT).
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Cancellation of admission of Jadestone Immediately prior to Jadestone UK Shares
Canada Shares to trading on AIM being admitted to trading on AIM.
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Admission of Jadestone UK Shares to trading 26 April 2021 at 08:00 (BST).
on AIM:
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Deposit deadline (for Letters of Transmittal): On the date that is six years from the effective time the
Arrangement.
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Capitalised terms used in this announcement have the same
meaning as the Reorganisation announcement on 22 March 2021.
For further information, please contact:
Jadestone Energy Inc. +65 6324 0359 (Singapore)
Paul Blakeley, President and CEO +44 7392 940 495 (UK)
Dan Young, CFO ir@jadestone-energy.com
Robin Martin, Investor Relations Manager
Stifel Nicolaus Europe Limited (Nomad, +44 (0) 20 7710 7600 (UK)
Joint Broker)
Callum Stewart
Jason Grossman
Simon Mensley
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 Inc. 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, 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
a 100% operated working interest in two gas development blocks in
Southwest Vietnam, and an operated 90% interest 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 an operated 69% interest in the Maari Project,
shallow water offshore New Zealand, and anticipates completing the
transaction in H1 2021, upon receipt of customary 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 Inc. is listed on the AIM market of the London
Stock Exchange. The Company is headquartered in Singapore. For
further information on Jadestone please visit
www.jadestone-energy.com .
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END
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