Business
Relief from Canadian Reporting Requirements
Relief from Canadian Reporting Requirements.
About this update from Jadestone Energy Plc
[{"type":"text","content":"\n \n \n RNS Number : 9505O\n Jadestone Energy Inc.\n 04 June 2020\n \n \n \n \n Jadestone Energy Inc.\n \n \n \n Jadestone Energy Granted Relief from Canadian Reporting Requirements\n \n \n \n \n \n \n June 4, 2020-Singapore: \n \n Jadestone Energy Inc. (AIM:JSE) (\"Jadestone\" or the \"Company\"), an independent oil and gas production company focused on the Asia Pacific region, announces that is has been granted relief from certain Canadian disclosure obligations effective immediately. \n \n \n \n \n \n Relief granted consistent with a designated foreign issuer\n \n \n The Company's principal regulator in Canada, the British Columbia Securities Commission (\"BCSC\"), has granted Jadestone relief from certain Canadian disclosure requirements, generally consistent with the relief granted to a designated foreign issuer (\"DFI\"), as defined in National Instrument 71-102 Continuous Disclosure and Other Exemptions Relating to Foreign Issuers. The BCSC's order granting this relief is available at: \n \n https://www.bcsc.bc.ca/Securities_Law/Exemption_Orders/\n \n . \n \n \n \n \n \n While the Company remains a British Columbia incorporated corporation, and will continue as a reporting issuer in the Provinces of British Columbia and Alberta, henceforth the Company will provide disclosure in Canada generally consistent with the disclosures required of a DFI. \n \n \n \n \n \n Jadestone's management sought this relief as part of its ongoing transition from Canadian driven disclosures and practices towards those expected of companies admitted to trading on AIM, as a reflection of the Company's sole listing now being AIM, and its shareholder base which is predominantly comprised of UK and European institutional investors. The Company anticipates material savings in both administrative costs and management time as a result of this relief. \n \n \n \n \n \n For the avoidance of doubt, the Company's disclosures, as required by the AIM Rules for Companies, and UK legislation applicable to the Company, are unaffected by this decision and remain in place. \n \n \n \n \n \n Semi-annual reporting\n \n \n A key consequence of the BCSC decision is that the Company will no longer be required to report quarterly financial information, and will instead now report finan...