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IN BRIEF: Jadestone resumes trading as Woodside cancels sale of assets

Thu, 11th Apr 2024 16:00

Jadestone Energy PLC - oil and gas company focused on the Asia-Pacific region - Shares readmitted to trading on the AIM market of the London Stock Exchange at 10:30 GMT on Thursday. Jadestone shares were suspended in February, after the company announced its intention to acquire interests in certain offshore Australian oil and gas fields from Woodside Energy Group Ltd. If successful, the deal would be large enough to constitute a reverse takeover under AIM listing rules, resulting in the suspension.

Jadestone says that Woodside has now cancelled the sale of its participating interests in the Macedon and Greater Pyrenees projects, offshore Western Australia. As a result, the suspension was lifted.

Current stock price: 27.50 pence per share, up 17% in London on Thursday

12-month change: down from 7,035.00 pence per share in April 2023

By Hugh Cameron, Alliance News reporter

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