Jadestone Energy Inc. Announces Grants Under Long Term Incentive Plans

SINGAPORE / ACCESSWIRE / April 29, 2020 / Jadestone Energy Inc. (AIM:JSE) (“Jadestone” or the “Company”), an independent oil and gas production company focused on the Asia Pacific region, is pleased to announce that on April 27, 2020 it granted (a) an aggregate of 6,525,000 incentive stock options to a number of employees, officers, directors, and consultants, including an individual engaged in investor relations activities on behalf of the Company, (b) an aggregate of 695,200 performance share awards to a number of its employees and (c) 101,063 restricted share awards to the Company’s President and CEO, A. Paul Blakeley.

The stock options are exercisable for a period of ten years at an exercise price of GBP 0.44 per share, and will vest upon the third anniversary of the grant date. The market value of the performance shares to be issued upon the vesting of the performance share awards is approximately GBP 0.56 per share, as calculated by an independent, specialist service provider. The performance share awards will vest on the third anniversary of the grant date, and the number of performance shares to be issued will be determined against two performance measures which will be applied annually: (i) absolute total shareholder return as measured on a target share price plus dividend, weighted at 30%, and (ii) relative total shareholder return as measured against agreed peer companies, weighted at 70%.

The market value of the restricted shares to be issued upon the vesting of the restricted share awards is approximately GBP 0.40 per share as calculated by an independent, specialist service provider, and the restricted share award will vest on the third anniversary of the grant date. The restricted share award was elected to be taken by the recipient in lieu of a salary increase to further the alignment of interests with shareholders.

The stock options, the performance share awards and the restricted share awards were granted in accordance with the terms of the Company’s stock option plan, performance share plan and restricted share plan respectively, each of which have been approved by the Company’s shareholders. As the Company transitions away from its historical North American model to a remuneration approach more aligned with current practice in the UK, this will be the last grant of stock options for which the non executive directors will be recipients.

Certain persons discharging managerial responsibilities (“PDMR”) were recipients of stock options as detailed below.

PDMR

Position

Number

A. Paul Blakeley

Executive Director, President and Chief Executive Officer

1,290,000

Daniel Young

Executive Director and Chief Financial Officer

700,000

Dennis McShane

Non-Executive Director, Chairman

75,000

Robert A. Lambert

Non-Executive Director, Deputy Chairman

50,000

Iain McLaren

Non-Executive Director

50,000

Cedric Fontenit

Non-Executive Director

50,000

David Neuhauser

Non-Executive Director

50,000

Lisa A. Stewart

Non-Executive Director

50,000

Certain PDMRs were recipients of performance share awards and/or restricted share awards as detailed below.

PDMR

Position

Performance Share Award Number

Restricted Share Award Number

A. Paul Blakeley

Executive Director, President and Chief Executive Officer

155,000

101,063

Daniel Young

Executive Director and Chief Financial Officer

80,000

N/A

– Ends –

Jadestone Energy Inc.

+65 6324 0359 (Singapore)

Paul Blakeley, President and CEO

+1 403 975 6752 (Canada)

Dan Young, CFO

+44 7392 940 495

Robin Martin, Investor Relations Manager

ir@jadestone-energy.com

   

Stifel Nicolaus Europe Limited (Nomad, Joint Broker)

+44 (0) 20 7710 7600 (UK)

Callum Stewart

 

Simon Mensley

Ashton Clanfield

 
   

BMO Capital Markets Limited (Joint Broker)

+44 (0) 20 7236 1010 (UK)

Thomas Rider

 

Jeremy Low

 

Thomas Hughes

 
   

Camarco (Public Relations Advisor)

+44 (0) 203 757 4980 (UK)

Billy Clegg

jadestone@camarco.co.uk

James Crothers

 

About Jadestone Energy Inc.

Jadestone Energy Inc. is an independent oil and gas company focused on the Asia Pacific region. It has a balanced, low risk, full cycle portfolio of development, production and exploration assets in Australia, Vietnam and the Philippines.

The Company has a 100% operated working interest in the Stag oilfield and the Montara project, both offshore Australia. Both the Stag and Montara assets include oil producing fields, with further development and exploration potential. The Company has a 100% operated working interest in two gas development blocks in Southwest Vietnam and is partnered with Total in the Philippines where it holds a 25% working interest in the SC56 exploration block. In addition, the Company has executed a sale and purchase agreement to acquire an operated 69% interest in the Maari Project, shallow water offshore New Zealand, and anticipates completing the transaction in H2 2020, upon receipt of customary approvals.

Led by an experienced management team with a track record of delivery, who were core to the successful growth of Talisman’s business in Asia, the Company is pursuing an acquisition strategy focused on growth and creating value through identifying, acquiring, developing and operating assets throughout the Asia-Pacific region.

Jadestone Energy Inc. is listed on the AIM market of the London Stock Exchange. The Company is headquartered in Singapore. For further information on Jadestone 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, and is disclosed in accordance with the Company’s obligations under Article 17 of those Regulations. Upon publication of this announcement, this inside information is now considered to be in the public domain.
 

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

2.

Reason for the notification

(a)

Position/status:

Executive Director, President and Chief Executive Officer

(b)

Initial notification/ amendment:

Initial notification

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

(a)

Name:

Jadestone Energy Inc.

(b)

LEI:

254900E4GCXW63X26Q32

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:

Common shares of no par value in Jadestone Energy Inc.

ISIN: CA46989Q1000

(b)

Nature of the transaction:

Grant of options and awards

(c)

Price(s) and volume(s):

Instrument

Volume

Exercise price (GBP)

Incentive stock option

1,290,000

0.44

Performance share award

155,000

Nil

Restricted share award

101,063

Nil

(d)

Aggregated information:
– Aggregated volume:
– Price:

1,546,063
Exercise price: GBP 0.44

(e)

Date of the transaction:

April 27, 2020

(f)

Place of the transaction:

Outside a trading venue

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:

Daniel Young

2.

Reason for the notification

(a)

Position/status:

Executive Director and Chief Financial Officer

(b)

Initial notification/ amendment:

Initial notification

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

(a)

Name:

Jadestone Energy Inc.

(b)

LEI:

254900E4GCXW63X26Q32

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:

Common shares of no par value in Jadestone Energy Inc.

ISIN: CA46989Q1000

(b)

Nature of the transaction:

Grant of options and awards

(c)

Price(s) and volume(s):

Instrument

Volume

Exercise price (GBP)

Incentive stock option

700,000

0.44

Performance share award

80,000

Nil

(d)

Aggregated information:
– Aggregated volume:
– Price:

780,000
Exercise price: GBP 0.44

(e)

Date of the transaction:

April 27, 2020

(f)

Place of the transaction:

Outside a trading venue

 

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:

Dennis McShane

2.

Reason for the notification

(a)

Position/status:

Non-Executive Director, Chairman

(b)

Initial notification/ amendment:

Initial notification

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

(a)

Name:

Jadestone Energy Inc.

(b)

LEI:

254900E4GCXW63X26Q32

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:

Common shares of no par value in Jadestone Energy Inc.

ISIN: CA46989Q1000

(b)

Nature of the transaction:

Grant of options

(c)

Price(s) and volume(s):

Instrument

Volume

Exercise price (GBP)

Incentive stock option

75,000

0.44

(d)

Aggregated information:
– Aggregated volume:
– Price:

75,000
Exercise price: GBP 0.44

(e)

Date of the transaction:

April 27, 2020

(f)

Place of the transaction:

Outside a trading venue

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:

Robert A. Lambert

2.

Reason for the notification

(a)

Position/status:

Non-Executive Director, Deputy Chairman

(b)

Initial notification/ amendment:

Initial notification

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

(a)

Name:

Jadestone Energy Inc.

(b)

LEI:

254900E4GCXW63X26Q32

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:

Common shares of no par value in Jadestone Energy Inc.

ISIN: CA46989Q1000

(b)

Nature of the transaction:

Grant of options

(c)

Price(s) and volume(s):

Instrument

Volume

Exercise price (GBP)

Incentive stock option

50,000

0.44

(d)

Aggregated information:
– Aggregated volume:
– Price:

50,000
Exercise price: GBP 0.44

(e)

Date of the transaction:

April 27, 2020

(f)

Place of the transaction:

Outside a trading venue

 

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:

Iain McLaren

2.

Reason for the notification

(a)

Position/status:

Non-Executive Director

(b)

Initial notification/ amendment:

Initial notification

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

(a)

Name:

Jadestone Energy Inc.

(b)

LEI:

254900E4GCXW63X26Q32

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:

Common shares of no par value in Jadestone Energy Inc.

ISIN: CA46989Q1000

(b)

Nature of the transaction:

Grant of options

(c)

Price(s) and volume(s):

Instrument

Volume

Exercise price (GBP)

Incentive stock option

50,000

0.44

(d)

Aggregated information:
– Aggregated volume:
– Price:

50,000
Exercise price: GBP 0.44

(e)

Date of the transaction:

April 27, 2020

(f)

Place of the transaction:

Outside a trading venue

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:

Cedric Fontenit

2.

Reason for the notification

(a)

Position/status:

Non-Executive Director

(b)

Initial notification/ amendment:

Initial notification

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

(a)

Name:

Jadestone Energy Inc.

(b)

LEI:

254900E4GCXW63X26Q32

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:

Common shares of no par value in Jadestone Energy Inc.

ISIN: CA46989Q1000

(b)

Nature of the transaction:

Grant of options

(c)

Price(s) and volume(s):

Instrument

Volume

Exercise price (GBP)

Incentive stock option

50,000

0.44

(d)

Aggregated information:
– Aggregated volume:
– Price:

50,000
Exercise price: GBP 0.44

(e)

Date of the transaction:

April 27, 2020

(f)

Place of the transaction:

Outside a trading venue

 

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:

David Neuhauser

2.

Reason for the notification

(a)

Position/status:

Non-Executive Director

(b)

Initial notification/ amendment:

Initial notification

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

(a)

Name:

Jadestone Energy Inc.

(b)

LEI:

254900E4GCXW63X26Q32

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:

Common shares of no par value in Jadestone Energy Inc.

ISIN: CA46989Q1000

(b)

Nature of the transaction:

Grant of options

(c)

Price(s) and volume(s):

Instrument

Volume

Exercise price (GBP)

Incentive stock option

50,000

0.44

(d)

Aggregated information:
– Aggregated volume:
– Price:

50,000
Exercise price: GBP 0.44

(e)

Date of the transaction:

April 27, 2020

(f)

Place of the transaction:

Outside a trading venue

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:

Lisa A. Stewart

2.

Reason for the notification

(a)

Position/status:

Non-Executive Director

(b)

Initial notification/ amendment:

Initial notification

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

(a)

Name:

Jadestone Energy Inc.

(b)

LEI:

254900E4GCXW63X26Q32

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:

Common shares of no par value in Jadestone Energy Inc.

ISIN: CA46989Q1000

(b)

Nature of the transaction:

Grant of options

(c)

Price(s) and volume(s):

Instrument

Volume

Exercise price (GBP)

Incentive stock option

50,000

0.44

(d)

Aggregated information:
– Aggregated volume:
– Price:

50,000
Exercise price: GBP 0.44

(e)

Date of the transaction:

April 27, 2020

(f)

Place of the transaction:

Outside a trading venue

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

SOURCE: Jadestone Energy Inc.

View source version on accesswire.com:
https://www.accesswire.com/587540/Jadestone-Energy-Inc-Announces-Grants-Under-Long-Term-Incentive-Plans

error: Content is protected !!