Jadestone Energy Announces Grant of Stock Options
December 4, 2019—Singapore: Jadestone Energy Inc. (AIM:JSE, TSXV:JSE) (“Jadestone” or the “Company”), an independent oil and gas production company focused on the Asia Pacific region, announces that on December 3, 2019 it granted an aggregate of 75,000 incentive stock options to Lisa Stewart, its newly appointed Non-Executive Director (“NED”) and accordingly a person discharging managerial responsibilities (“PDMR”). The stock options are exercisable for a period of ten years at an exercise price of C$1.17 per share and will vest upon the third anniversary of the grant date.
The stock options were granted in accordance with the terms of the Company’s stock option plan, which has been approved by shareholders and the TSX Venture Exchange. The grant is consistent with Jadestone’s current NED compensation structure, which includes a mix of cash and incentive stock options. Having listed on the London AIM market last year, Jadestone is transitioning its NED compensation structure to be based on cash-only fees, consistent with UK best practice, and to thereby phase out stock options, as a part of compensation for NEDs, over a three-year period to 2022.
— Ends —
|Jadestone Energy Inc.||+65 6324 0359 (Singapore)|
|Paul Blakeley, President and CEO||+1 403 975 6752 (Canada)|
|Dan Young, CFOemail@example.com|
|Robin Martin, Investor Relations Manager|
|Stifel Nicolaus Europe Limited (Nomad, Joint Broker)||+44 (0) 20 7710 7600 (UK)|
|BMO Capital Markets Limited (Joint Broker)||+44 (0) 20 7236 1010 (UK)|
|Camarco (Public Relations Advisor)||+ 44 (0) 203 757 4980 (UK)|
About Jadestone Energy Inc.
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, Vietnam and the Philippines.
The Company has a 100% operated working interest in the Stag oilfield and the Montara project, both offshore Australia. Both the Stag and Montara assets include oil producing fields, with further development and exploration potential. The Company has a 100% operated working interest in two gas development blocks in Southwest Vietnam and is partnered with Total in the Philippines where it holds a 25% working interest in the SC56 exploration block.
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 throughout the Asia Pacific region.
Jadestone Energy Inc. is currently listed on the TSXV and AIM. The Company is headquartered in Singapore. For further information on Jadestone please visit www.jadestone-energy.com.
The information contained within this announcement is considered to be inside information prior to its release, as defined in Article 7 of the Market Abuse Regulation No. 596/2014, and is disclosed in accordance with the Company’s obligations under Article 17 of those Regulations.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
DEALING NOTIFICATION FORM
FOR USE BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY AND THEIR CLOSELY ASSOCIATED PERSONS
|1.||Details of the person discharging managerial responsibilities/person closely associated|
|(a)||Name:||Lisa A. Stewart|
Reason for the notification
|(b)||Initial notification/ amendment:||Initial notification|
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
|(a)||Name:||Jadestone Energy Inc.|
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
|(a)||Description of the financial instrument, type of instrument:
|Common shares of no par value in Jadestone Energy Inc.
|(b)||Nature of the transaction:||Grant of options|
|(c)||Price(s) and volume(s):||
– Aggregated volume:
|(e)||Date of the transaction:||December 3, 2019|
|(f)||Place of the transaction:||XTSX|