Jadestone Energy Inc. Announces Update on Internal Reorganisation

Rhea-AI Summary

Jadestone Energy Inc. (AIM:JSE) announced a proposed internal reorganisation to shift its domicile to the United Kingdom, resulting in a newly incorporated entity, Jadestone Energy Plc, becoming the parent company. This reorganisation will not alter control, shareholding, or management of the Jadestone Group. The company has also published relevant documents on their website in accordance with AIM regulations.

Jadestone Energy, focused on the Asia Pacific region, operates multiple oil and gas assets, including projects in Australia, Vietnam, and Indonesia.

Positive

• Proposed reorganisation aimed at enhancing corporate structure by re-domiciling to the UK.
• No change in control or management, ensuring stability for investors.
• Continued focus on expansion within the Asia Pacific oil and gas sector.

Negative

• None.

SINGAPORE, SINGAPORE / ACCESSWIRE / March 25, 2021 / Jadestone Energy Inc. (AIM:JSE) (the "Company" or "Jadestone"), 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") to effect a re-domicile to the United Kingdom, with the effect that a newly incorporated English company Jadestone Energy Plc will become the ultimate holding company of the Jadestone group of companies (the "Jadestone Group").

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.

The Company notes the publication by the London Stock Exchange of the AIM Schedule One announcement in connection with the Reorganisation. This document, along with an appendix, have been uploaded to the Company's website, www.jadestone-energy.com. Certain immaterial amendments have been made to the Schedule One announcement released by the London Stock Exchange from the draft Schedule One announcement which was posted to shareholders following consultation with the Company's Nominated Adviser. For the avoidance of doubt, shareholders should refer to the version released by the London Stock Exchange and uploaded to the Company's website.

____________________________

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, Joint Broker)	+44 (0) 20 7710 7600 (UK)
Callum Stewart
Jason Grossman Simon Mensley
Ashton Clanfield
BMO Capital Markets Limited (Joint Broker)	+44 (0) 20 7236 1010 (UK)
Thomas Rider
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 and Vietnam.

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.

This announcement does not contain inside information.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

SOURCE: Jadestone Energy Inc.

View source version on accesswire.com:
https://www.accesswire.com/637405/Jadestone-Energy-Inc-Announces-Update-on-Internal-Reorganisation

FAQ

What is the purpose of Jadestone Energy's proposed reorganisation?

The reorganisation aims to shift Jadestone Energy's domicile to the United Kingdom, creating a new parent company, Jadestone Energy Plc, without changing control or management.

Will the reorganisation of Jadestone Energy impact shareholders?

No, the proposed reorganisation will not alter control or shareholding among shareholders of the Jadestone Group.

How does the reorganisation affect Jadestone Energy's operations?

The reorganisation will not change any operational aspects of the Jadestone Group's companies or assets.

Where can I find more information about Jadestone Energy's internal reorganisation?

Further details can be found in the AIM Schedule One announcement and on Jadestone Energy's official website.