Business
Intention to Admit Shares to AIM
Intention to Admit Shares to AIM.
About this update from Jadestone Energy Plc
[{"type":"text","content":"\n \nRNS Number : 7058U Jadestone Energy Inc. 16 July 2018 \n\nTHIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH IT WOULD BE UNLAWFUL TO DO SO. PLEASE SEE THE FURTHER INFORMATION SECTION WITHIN THIS ANNOUNCEMENT.\n \nThis announcement does not constitute an offer of securities for sale or subscription in any jurisdiction.\n \nJadestone Energy Inc.\n \nIntention to Admit Shares to the AIM Market of the London Stock Exchange plc\nProposed Equity Placing and Senior Debt Financing to fund the Montara Project Acquisition, Offshore Australia\n \n16 July 2018-Singapore: Jadestone Energy Inc. (TSXV:\"JSE\") (\"Jadestone\" or the \"Company\"), an independent oil and gas production, development and exploration company focused on the Asia Pacific region, is pleased to announce a placing of new common shares (the \"Common Shares\") to raise gross proceeds of US$95 million (\"Placing\") and its intention to apply for an additional listing of its shares on the AIM Market of the London Stock Exchange plc (\"AIM\"). Jadestone expects Admission to trading on AIM of the existing and new Common Shares to occur in August 2018 (\"Admission\").\n \nThis follows the Company's announcement earlier this morning that it has executed a definitive Sale and Purchase Agreement (\"SPA\") with certain subsidiaries of PTT Exploration and Production Public Company Limited (\"PTTEP\") to acquire a 100% interest in the Montara oil project (the \"Montara Oil Project\" or the \"Montara Assets\") via an asset acquisition (the \"Acquisition\") for a total cash consideration of US$195 million (subject to customary working capital adjustments and contingent consideration). The Acquisition will have an effective date of 1 January 2018.\n \nAs part of the financing of the acquisition Jadestone proposes to enter into a reserve based lending facility of US$120 million (the \"RBL Facility\"). Two existing institutional shareholders, Directors and senior management have indicated that they intend to subscribe for up to US$46 million as part of the placing. \n \nThe nominated adviser for the Admission is Stifel Nicolaus Europe Limited (\"Stifel\"); Stifel is also joint brok...