Vesting of Share Awards and Director Share Dealing
27 April 2023 – Singapore: Jadestone Energy plc (AIM:JSE) (the “Company”), an independent oil and gas production company focused on the Asia-Pacific region, announces that a total of 79,327 performance share awards (“PS Awards”) granted by the Company on 27 April 2020 pursuant to the Company’s Performance Share Plan vested on 27 April 2023 following the application of performance conditions measured over the three-year period to 31 December 2022. In addition, a total of 101,063 restricted share awards (“RS Awards”) granted by the Company on 27 April 2020 pursuant to the Company’s Restricted Share Plan vested on 27 April 2023.
With the vesting of the PS Awards and the RS Awards, 180,390 ordinary shares of £0.001 each in the capital of the Company have been issued on 27 April 2023 amongst a number of employees. This includes the issuance of 124,313 shares to A. Paul Blakeley, Executive Director, President and CEO of Jadestone.
Following the shares issuance, Mr. Blakeley holds a total of 4,357,111 ordinary shares, which represents 0.98% of the Company’s issued share capital.
The FCA notification, made in accordance with the requirements of the UK Market Abuse Regulation is appended below and gives further details on the transaction described above.
Application has been made to the London Stock Exchange for PS Awards and RS Awards to be admitted to trading on AIM. It is expected that admission will become effective, and that dealings will commence at 8.00 a.m. BST on 3 May 2023.
Total Voting Rights
Following the vesting of the PS Awards and RS Awards, the Company will have 446,611,191 Ordinary Shares (excluding treasury shares) of £0.001 par value each in issue, and no Ordinary Shares in treasury. Therefore, the total voting rights in the Company will be 446,611,191.
This figure should be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA’s Disclosure Guidance and Transparency Rules.
DEALING NOTIFICATION FORM
FOR USE BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY AND THEIR CLOSELY ASSOCIATED PERSONS
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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, Thailand and Vietnam.
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 a 16.67% non-operated interest in the North West Shelf Oil Project offshore Western Australia, comprising four oil fields containing significant upside potential through potential infill drilling and life extension activities.
The Company has interests in four oil producing licences offshore Peninsular Malaysia; two operated and two non-operated positions, and a non-operated 9.52% interest in the Sinphuhorm producing gas field onshore Thailand.
Further, the Company has a 100% operated working interest in two gas development blocks in Southwest Vietnam, and an operated 100% interest in the Lemang PSC, onshore Sumatra, Indonesia, which includes the Akatara gas field development, where first production is expected in the first half of 2024.
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 (LEI: 21380076GWJ8XDYKVQ37) is listed on the AIM market of the London Stock Exchange (AIM: JSE). The Company is headquartered in Singapore. For further information on the Company 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 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018.