Jadestone Energy Inc announces Special Meeting Voting Results

SINGAPORE, SINGAPORE / ACCESSWIRE / April 20, 2021 / Jadestone Energy Inc. (AIM:JSE) (the "Company" or "Jadestone"), an independent oil and gas production company focused on the Asia Pacific region, is pleased to announce that the resolution put to shareholders at the Company's Special Meeting on 20 April 2021 was duly passed, with approximately 100.0%¹ of shares voted in support of the motion, and the Company did not receive any notice of exercise of dissent rights.

Shareholders voted overwhelmingly to pass the special resolution to approve the internal reorganisation of the Company's corporate structure (the "Reorganisation"), and its implementation by way of a British Columbia, Canada, court-approved plan of arrangement (the "Arrangement").

The Arrangement, which is subject to Court approval, provides for, among other things, the transfer by shareholders and subsequent cancellation of all issued and outstanding shares in the Company, Jadestone Energy Inc., in exchange for ordinary shares of Jadestone Energy plc on a one-for-one basis. As a result, Jadestone Energy plc will become the ultimate parent company of the Jadestone group of companies (the "Jadestone Group"). In connection with the Arrangement, Jadestone Energy plc will apply for the new shares to be admitted to trading on the AIM market of the London Stock Exchange.

The Reorganisation will not result in a change in control in the ultimate holding company of the Jadestone Group and, accordingly, will not result in a change in control in the ultimate shareholding in any of the companies or assets of the Jadestone Group. Further, the Reorganisation will not result in a change in the management of any of the Jadestone Group's companies or assets.

¹ 99.9953% of shares voted in support of the motion.

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SOURCE: Jadestone Energy Inc.