Jadestone Energy Inc - Asia Pacific-focused oil & gas company - Says Supreme Court of British Columbia has approved plan of arrangement, which will become effective at 2359 PDT on Friday.
Jadestone Energy PLC, through a wholly-owned subsidiary, will acquire all of the shares in Jadestone Canada in exchange for new ordinary shares in Jadestone UK, on a one-for-one basis. As a result of the arrangement, Jadestone Canada will become a wholly-owned subsidiary of Jadestone UK. Jadestone Canada shares will be cancelled from trading on AIM immediately prior to the Jadestone UK shares being admitted to trading on AIM.
Expects AIM admission on Monday.
"The reorganisation will not result in a change in control in the ultimate holding company of the Jadestone group and, accordingly, will not result in a change in control in the ultimate shareholding in any of the companies or assets of the Jadestone group. Further, the reorganisation will not result in a change in the management of any of the Jadestone group's companies or assets," says Jadestone Energy.
Current stock price: 59.50 pence
Year-to-date change: down 3.3%
By Lucy Heming;Â lucyheming@alliancenews.com
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