Last checked at 18 Mar 2024 07:00
Vesting of Share Awards and Director Share Dealing
18 March 2024 - Singapore: Jadestone Energy plc ("Jadestone", or the "Company"), an independent upstream company focused on the Asia-Pacific region, announces that a total of 50,570 restricted share awards ("RS Awards") granted by the Company on 18 March 2021, pursuant to the Company's Restricted Share Plan, vested on 18 March 2024.
With the vesting of the RS Awards, 50,570 ordinary shares of £0.001 each in the capital of the Company have been issued on 18 March 2024 to A. Paul Blakeley, Executive Director, President and CEO of Jadestone. The original RS Awards reflected a decision by Mr Blakeley to receive a portion of his annual base salary in the form of restricted share units to provide greater alignment with shareholders.
Following the share issuance, Mr. Blakeley holds a total of 4,943,992 ordinary shares, representing 0.91% 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.
Admission
Application has been made to the London Stock Exchange for the 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. GMT on 21 March 2024.
Total Voting Rights
Following the vesting of the RS Awards, the Company will have 540,817,144 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 540,817,144.
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
1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name: | A. Paul Blakeley
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2. | Reason for the notification | |||||
a) | Position/status: | Executive Director, President and CEO
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b) | Initial notification/Amendment: | Initial Notification
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3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Jadestone Energy Plc
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b) | LEI: | 21380076GWJ8XDYKVQ37
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4. | 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: Identification code: | Ordinary shares of £0.001 each in the share capital of Jadestone Energy plc ISIN: GB00BLR71299
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b) | Nature of the transaction: | Vesting of restricted shares award
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c) | Price(s) and volume(s): |
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d) | Aggregated information: · Aggregated volume: · Price: |
50,570 ordinary shares Nil
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e) | Date of the transaction: | 18 March 2024
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f) | Place of the transaction: | XOFF
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For further information, please contact:
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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 and increasingly diversified portfolio of production and development assets in Australia, Malaysia, Indonesia, Thailand and Vietnam, all stable jurisdictions with a positive upstream investment climate.
Led by an experienced management team with a track record of delivery, who were core to the successful growth of Talisman Energy's business in Asia-Pacific, the Company is pursuing a strategy to grow and diversify the Company's production base both organically, through developments such at Akatara in Indonesia and Nam Du/U Minh in Vietnam, as well as through acquisitions that fit within Jadestone's financial framework and play to the Company's strengths in managing maturing oil assets. Jadestone delivers value in its acquisition strategy by enhancing returns through operating efficiencies, cost reductions and increased production through further investment.
Jadestone is a responsible operator and well positioned for the energy transition through its increasing gas production, by maximising recovery from existing brownfield developments and through its Net Zero pledge on Scope 1 & 2 GHG emissions from operated assets by 2040. This strategy is aligned with the IEA Net Zero by 2050 scenario, which stresses the necessity of continued investment in existing upstream assets to avoid an energy crisis and meet demand for oil and gas through the energy transition.
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.