CONTACT
JADESTONE ENERGY

DIVIDENDS

Jadestone’s business model, with a focus on producing upstream oil & gas assets and discovered resource that can be brought to production within a short to medium time frame, is cash-generative, and, as a result, is fundamentally pre-disposed to providing some cash returns, after allowing for organic reinvestment needs in the short to medium term, whilst maintaining a conservative capital structure, and not limiting options for inorganic growth.

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 dividends semi-annually, split roughly one third interim and two-third final.
On 10 September, 2020, Jadestone declared its maiden interim dividend of US 0.54¢ per share.
  • This maiden ordinary dividend, totalling US$2.5 million, was paid to shareholders on 30 October 2020.
On 22 April 2021, Jadestone announced the intention to recommend a 2020 final dividend of US 1.08¢ per share.
  • The Directors intend to recommend the 2020 final dividend following the completion of the internal restructuring of the Jadestone Group and completion of a capital reduction of Jadestone Energy plc, which is expected to become effective during the second half of May 2021.

Important Information for Shareholders

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

Following the Company’s internal reorganisation, which was approved by shareholders on 20 April 2021, and received court approval on 22 April 2021, Jadestone Energy plc, a UK-based entity became the parent company of the Jadestone Group.  Dividends paid by Jadestone Energy plc, including the 2020 final dividend, will not be subject to dividend withholding tax.

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

Subscribe to our mailing list