REG - Jadestone Energy PLC - Appointment of Independent Non-Executive Director

Jadestone EnergyAnnouncement

09/05/2024 07:00

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RNS Number : 7657N  Jadestone Energy PLC  09 May 2024

 

Appointment of Independent Non-Executive Director

 

9 May 2024 - Singapore: Jadestone Energy plc ("Jadestone", or the "Company"),
an independent upstream company focused on the Asia-Pacific region, is pleased
to announce the appointment of Linda Beal to its Board of Directors (the
"Board") as an independent Non-Executive Director with immediate effect.

 

On appointment, Mrs Beal will join the Audit Committee as Chair, replacing
Iain McLaren who, in line with previous announcements, will not seek
re-election at the Company's Annual General Meeting on 13 June 2024. Mrs Beal
will also join the Remuneration Committee and the Governance and Nomination
Committee.

 

Linda Beal has over 30 years of experience advising the upstream sector and
since 2018 has been a board director of several UK AIM listed exploration and
production ("E&P") companies. She will bring corporate governance and
financial expertise and experience to her role as Jadestone's Audit Committee
Chair.

 

Linda joined Grant Thornton in 2013 as a Tax Partner, where she was Global
Leader for Energy and Natural Resources with a mandate to build Grant
Thornton's global energy and natural resources capability. Previously, Linda
spent 30 years at PwC and its legacy firm Price Waterhouse in Audit and Tax,
16 of them as a Partner. With PwC's Natural Resources Independents business
she focused on advising international E&P clients across the AIM, FTSE350,
overseas listed and private sectors.

 

Linda graduated in 1982 from the University of Nottingham with a Bachelor of
Science degree in Mathematics, thereafter qualifying at Price Waterhouse as a
Chartered Accountant and was admitted to the Institute of Chartered
Accountants of England and Wales in 1986.

 

Adel Chaouch, Chairman of Jadestone, commented:

 

"On behalf of Jadestone, I would like to thank Iain McLaren for his tenure on
Jadestone's Board, particularly chairing the Audit Committee. We wish him well
in the future.

 

We welcome Linda Beal to Jadestone's Board. Her sector experience, ranging
from senior tax positions at top tier advisory firms to more recent board
experience across the UK listed upstream sector means she is ideally placed to
join Jadestone as a Non-Executive Director and Chair the Audit Committee.
Together with Jadestone's other directors, I look forward to working with her
to maintain the Company's high standards of governance."

 

Regulatory disclosures

 

The following information is disclosed under Rule 17 and Schedule Two,
paragraph (g), of the AIM Rules for Companies:

 

Linda Janice Beal (née Coxon), aged 62, does not directly hold any ordinary
shares nor options over ordinary shares in the Company and has held the
following directorships in the past five years:

 

·    Linda Beal Consulting LLP (current)

·    Auxxilia Ltd (current)

·    Nomad Players Ltd (current)

·    Orca Energy Group Inc (current)

·    Kropz plc (current)

·    I3 Energy plc (current)

·    Global Pricing Innovations Ltd (current)

·    Hurricane Energy plc (previous)

·    Airnow plc (previous)

·    San Leon Energy plc (previous)

·    Aminex plc (previous)

·    FlowStream Royalties Ltd (previous)

 

Mrs Beal was a Non-Executive Director of Airnow plc from 13 April 2021 until
her resignation on 6 November 2022. On 9 October 2023 Airnow plc entered into
a Company Voluntary Arrangement.

 

There is no further information which is required to be disclosed under
Schedule Two, paragraph (g), of the AIM Rules for Companies in respect of
Linda Beal.

 

-ends-

 

For further information, please contact:

 

 Jadestone Energy plc
 Paul Blakeley, President and CEO                      +65 6324 0359 (Singapore)
 Bert-Jaap Dijkstra, CFO

 Phil Corbett, Head of Investor Relations              +44 (0) 7713 687467 (UK)
                                                       ir@jadestone-energy.com (mailto:ir@jadestone-energy.com)

 Stifel Nicolaus Europe Limited (Nomad, Joint Broker)  +44 (0) 20 7710 7600 (UK)
 Callum Stewart
 Jason Grossman
 Ashton Clanfield

 Peel Hunt LLP (Joint Broker)                          +44 (0) 20 7418 8900 (UK)
 Richard Crichton
 David McKeown

 Georgia Langoulant

 Camarco (Public Relations Advisor)                    +44 (0) 203 757 4980 (UK)
 Billy Clegg                                           jse@camarco.co.uk (mailto:jse@camarco.co.uk)
 Andrew Turner

 Elfie Kent

 

About Jadestone Energy

Jadestone Energy plc is an independent oil and gas company focused on the
Asia-Pacific region.  It has a balanced and increasingly diversified
portfolio of production and development assets in Australia, Malaysia,
Indonesia, Thailand and Vietnam, all stable jurisdictions with a positive
upstream investment climate.

 

Led by an experienced management team with a track record of delivery, who
were core to the successful growth of Talisman Energy's business in
Asia-Pacific, the Company is pursuing a strategy to grow and diversify the
Company's production base both organically, through developments such as at
Akatara in Indonesia and Nam Du/U Minh in Vietnam, as well as through
acquisitions that fit within Jadestone's financial framework and play to the
Company's strengths in managing maturing oil assets. Jadestone delivers value
in its acquisition strategy by enhancing returns through operating
efficiencies, cost reductions and increased production through further
investment.

 

Jadestone is a responsible operator and well positioned for the energy
transition through its increasing gas production, by maximising recovery from
existing brownfield developments and through its Net Zero pledge on Scope 1
& 2 GHG emissions from operated assets by 2040. This strategy is aligned
with the IEA Net Zero by 2050 scenario, which stresses the necessity of
continued investment in existing upstream assets to avoid an energy crisis and
meet demand for oil and gas through the energy transition.

 

Jadestone Energy plc (LEI: 21380076GWJ8XDYKVQ37) is listed on the AIM market
of the London Stock Exchange (AIM: JSE).  The Company is headquartered in
Singapore.  For further information on the Company please visit
www.jadestone-energy.com (http://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 which is part of UK law by virtue of the European
Union (Withdrawal) Act 2018.

 

 

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