CONTACT
JADESTONE ENERGY

DIVIDENDS

In September 2019, Jadestone announced the adoption of a dividend policy.

Subject to the continued operational performance of the business, the Company indicated its plans to declare its maiden ordinary interim dividend at the same time as the Company announces its half yearly results to June 30, 2020. The Company intends to declare dividends semi-annually thereafter.

Jadestone’s growth-oriented strategy remains unchanged and unaffected by the decision to adopt a dividend policy. The business model is highly cash-generative, and, as a result, is fundamentally pre-disposed to providing some cash returns, after allowing for organic reinvestment needs, whilst maintaining a conservative capital structure, and not limiting options for inorganic growth.

Jadestone declared its maiden dividend of US 0.54¢ per share on September 10, 2020.

This maiden ordinary dividend, totalling US$2.5 million represents the interim 1/3rd portion of a full year dividend. The Company has reaffirmed its full year dividend guidance of US$7.5 – 12.5 million.

  • Ex-Dividend date: October 15, 2020 (the day on which the stock begins trading without the right to receive the interim dividend)
  • Record date: October 16, 2020 (the cut-off date established by the Company in order to determine which shareholders are eligible to receive a dividend)
  • Payment date: October 30, 2020 (the date on which the dividend payment is issued)

The Company does not offer a dividend reinvestment plan, and does not offer dividends in the form of ordinary shares.

Important Information for Shareholders

As Jadestone is a Canadian domiciled corporation, the Company’s Transfer Agent will apply withholding tax to all dividend payments made to Canadian non-resident taxpaying shareholders.

Accordingly, Computershare Trust Company will contact all depositary interest holders and registered shareholders by mail, requesting certain information relating to tax residency. They will also request payment preferences with respect to the dividend.

UK Register

For nominees of Jadestone shareholders with interests held as depositary interests on CREST (the UK’s central securities depositary), you will be contacted by Computershare UK and will be requested to do the following:

1. Complete an IC76 Declaration form to indicate that you are a Canadian non-resident taxpayer, resident in a country that Canada has a tax treaty with, and you are eligible to receive a reduced withholding tax rate. Any account where a reduced rate has not been validly claimed will be subject to the maximum Canadian withholding tax rate of 25%. Responses must be received by the record date October 16, 2020.

2. Opt whether to receive dividend payments by US dollar-denominated cheque, or directly through the CREST system. CREST elections must be made directly through the CREST system, otherwise a paper cheque will be mailed to you.

 

Additional information will be provided in Computershare UK’s direct communications by mail. If you would like further help, or if you do not receive your communications by mail, please call one of Computershare UK’s customer service representatives on +44 (0)370 702 0003.

Completed forms should be returned to:

Computershare Investor Services PLC
The Pavilions
Bridgwater Road
Bristol
BS13 8AE
UK

Canadian Register

For registered shareholders and nominees Jadestone shareholders with interests held as depositary interests on CDS (the Canadian Depositary for Securities), you will be contacted by Computershare Canada, and will be requested to do the following:

1. For Canadian non-resident taxpayers, complete either an IRS Form W-9 (US persons) or a form NR301 (all others) to indicate that you are a Canadian non-resident taxpayer, resident in a country that Canada has a tax treaty with, and you are eligible to receive a reduced withholding tax rate. Any account where a reduced rate has not been validly claimed will be subject to the maximum Canadian withholding tax rate of 25%. Responses must be received by the record date October 16, 2020. No withholding tax will be applied to residents of Canada.

2. Opt whether to receive dividend payments by US dollar-denominated cheque, or to have funds directly deposited into a Canadian (US dollar-denominated) or US bank account. To enrol in the direct deposit service, please complete an Authorization for Electronic Direct Deposit in US Dollars form, otherwise a paper cheque will be mailed to you.

 

Additional information will be provided in Computershare Canada’s direct communications by mail. If you would like further help, or if you do not receive your communications by mail, please contact Vanessa Lee, Relationship Manager at Computershare Canada on +1 604 661 9450.

Completed forms should be returned by email to vanessa.lee@computershare.com or by mail to:

Computershare 
8th Flor, 100 University Ave
Toronto, ON
M5J 2Y1
Canada

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