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Jadestone Energy (AIM:JSE) has announced its 2020 financial results and declared a final dividend of USȼ1.08/share, totaling US$7.5 million for the year. Despite a challenging environment due to the COVID-19 pandemic, Jadestone reported a net revenue of US$217.9 million, down 33% year-over-year, and a net post-tax loss of US$60.2 million, primarily due to an impairment loss. However, the company exited 2020 with strong cash flow, remaining debt-free as of Q1 2021, and a commitment to ongoing shareholder returns. The 2021 outlook anticipates production of 11,500-13,500 bbls/d.
Jadestone Energy Inc. (AIM:JSE) announced the successful passing of a special resolution at its shareholders' meeting on April 20, 2021. Approximately 100% of shares voted supported the internal reorganization of the company’s corporate structure. This will involve a court-approved plan of arrangement, where existing shares of Jadestone Energy Inc. will be exchanged for ordinary shares in Jadestone Energy plc on a one-for-one basis. The reorganization will not alter control or management structures within the Jadestone Group.
Jadestone Energy Inc. will announce its consolidated audited financial statements for the period ending December 31, 2020, on April 22, 2021. The company will host a conference call for investors and analysts at 4:00 p.m. Singapore time, which includes a Q&A session. Interested parties can access the live webcast and find further information on the company's website. The financial results will be disclosed in detail, contributing to an understanding of Jadestone's performance in the oil and gas sector focused on the Asia Pacific region.
Jadestone Energy Inc. has appointed Jefferies International Limited as a corporate broker, effective immediately. Jefferies will join Stifel Nicolaus Europe Limited, the current joint broker and nominated adviser. This appointment is expected to enhance Jadestone's advisory capabilities, helping the independent oil and gas company focused on the Asia Pacific region navigate its growth strategy. Jadestone operates several key projects, including the Stag oilfield and Montara project in Australia, and intends to acquire additional assets to boost its portfolio.
Jadestone Energy announced that as of March 31, 2021, its capital comprises 463,649,477 ordinary shares with voting rights, with no treasury shares held. Shareholders should use this figure to determine their notifications under FCA rules regarding interests in the Company. This announcement emphasizes transparency regarding voting rights and capital structure.
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.
Jadestone Energy Inc. (AIM:JSE) has announced plans for an internal reorganization to re-domicile to the UK, creating a new holding company, Jadestone Plc. This move does not change control or management and will exchange shares on a one-for-one basis. Shareholders will receive details via a management information circular. A special meeting for approval will be held on April 20, 2021. Additionally, Jadestone is extending the acquisition timeline for a 69% interest in the Maari asset to June 30, 2021, with an effective date of January 1, 2019.
Jadestone Energy Inc. (AIM:JSE) announced on March 19, 2021, that CEO A. Paul Blakeley exercised options for 1,500,000 common shares. This includes 500,000 shares at CAD 0.49 and 1,000,000 shares at CAD 0.47, totaling an expenditure of CAD 715,000. Following this transaction, Blakeley holds 4,232,798 shares, representing 0.91% of the company's issued share capital. This announcement adheres to UK Market Abuse Regulation requirements.
On March 18, 2021, Jadestone Energy granted a total of 4,039,713 incentive awards to employees, including 2,852,631 stock options and 1,136,512 performance shares, aligning with a three-year transition to a UK-style incentive approach. The stock options come with an exercise price of GBP 0.77, while the performance shares have a market value of GBP 0.84 per share. Additionally, a block listing application for these shares will be submitted to the London Stock Exchange, effective around March 23, 2021. The company currently has 462,149,477 common shares issued.
Jadestone Energy announced a proposed internal reorganisation to establish a new parent holding company in the UK, projected to yield annual cost savings of $0.5 to $1 million. This move aims to enhance its profile among UK and European investors and optimize its tax structure. The company reported 2P oil reserves of 37.1 million barrels as of December 31, 2020, down 4.7 million from 2019, primarily due to production. Court approval is pending for the reorganisation, with a shareholder meeting scheduled for April 20, 2021.
