Grant of Application To Cease to be a Reporting Issuer in Canada and Notice of Results
6 April 2022 – Singapore: Jadestone Energy plc (“Jadestone” or the “Company”), an independent oil and gas production company focused on the Asia-Pacific region, announces that the Company’s application to the securities regulatory authorities in the Canadian provinces of British Columbia and Alberta to cease to be a Canadian reporting issuer has been granted.
The application was originally announced on 3 March 2022, and its grant means that Jadestone is no longer classified as a designated foreign issuer under Canadian securities regulations, and is therefore no longer required to file financial statements and other continuous disclosure documents with the Canadian securities regulatory authorities.
Jadestone will continue to comply with all UK regulatory and disclosure requirements.
The reporting issuer relief also removes the requirement for Jadestone’s statutory auditor, Deloitte Ireland LLP (“Deloitte”), to be registered with the Canadian Public Accounting Board (“CPAB”). As a result of discussions between the Company and Deloitte over the CPAB registration, as well as the process of obtaining the reporting issuer relief, the Company will report its annual audited results and recommend a final dividend for the year ended 31 December 2021 on or before 6 June 2022, rather than the Company’s usual mid-April reporting schedule.
The Company’s 2021 Annual Report and Notice of AGM will also be issued on or before 6 June 2022, with the Company’s 2022 AGM being held in late June 2022. The final dividend in respect of 2021 will be paid shortly after the AGM.
Following this one-off departure from the Company’s normal reporting schedule, which is solely due to the process of obtaining Canadian reporting relief, and the resultant relief from CPAB registration for its auditor, Jadestone will revert back to its normal reporting schedule including first-half 2022 results in September 2022 and full-year audited 2022 results in April 2023.
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)|
|Stifel Nicolaus Europe Limited (Nomad, Joint Broker)||+44 (0) 20 7710 7600 (UK)|
|Jefferies International Limited (Joint Broker)||+44 (0) 20 7029 8000 (UK)|
|Camarco (Public Relations Advisor)||+44 (0) 203 757 4980 (UK)|
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.
This announcement does not contain inside information.