Business
Admission and Commencement of Open Offer
Admission and Commencement of Open Offer.
About this update from Jadestone Energy Plc
[{"type":"text","content":"\n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, NEW ZEALAND OR THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. FURTHER, THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND IS NOT AN OFFER OF SECURITIES IN ANY JURISDICTION.\n \n\n \nAdmission\nCommencement of Open Offer to raise up to US$8.3 million\nPublication of Open Offer Circular\n \n9 June 2023 - Singapore: Further to its announcements on 6 June 2023 and 7 June 2023 relating to its financing, Jadestone Energy plc (the \"Company\" and together with its subsidiaries, \"Jadestone\" or the \"Group\"), an independent oil and gas production company focused on the Asia-Pacific region, is pleased to announce that the 94,081,826 new Ordinary Shares issued pursuant to the Placing and Subscription have today been admitted to trading on AIM. The Placing and Subscription together raised gross proceeds of US$52.6 million and net proceeds of US$50.0 million.\nThe Company is also pleased to confirm the commencement of its open offer of up to 14,887,039 new Ordinary Shares (the \"Open Offer Shares\") at an offer price of £0.45 (the \"Offer Price\") to raise additional gross proceeds for the Company of up to approximately US$8.3 million before expenses.\nIn connection with the Open Offer, the Company will today post to Shareholders an open offer circular (the \"Open Offer Circular\"), together with an application form for the Open Offer. The Open Offer Circular contains a letter from Dennis McShane, the Chair of Jadestone, explaining the Open Offer and the full terms and conditions of the Open Offer, as well as the expected timetable of principal events (which is also set out below). The Open Offer Circular will also be available on the Company's website at www.jadestone-energy.com.\nQualifying Shareholders may apply for Open Offer Shares under the Open Offer at the Offer Price pro rata to their holdings of Ordinary Shares on the Record Date (being 6.00 p.m. on 7 June 2023) on the basis of:\n1 Open Offer Share for every 30 Existing Ordinary Shares held\nThe Open Offer is aimed at those Qualifying Shareholders who were not given the opportunity to participate in the Placing or Subscription. Shar...