REG - Jadestone Energy PLC - Appointment of CFO

Jadestone EnergyAnnouncement

29/10/2024 07:00

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RNS Number : 0162K  Jadestone Energy PLC  29 October 2024

Appointment of CFO

 

29 October 2024 - Singapore: Jadestone Energy plc (AIM:JSE) ("Jadestone" or
the "Company"), an independent upstream production company focused on the
Asia-Pacific region, is pleased to announce the appointment of Andrew
Fairclough as Chief Financial Officer ("CFO") and Executive Director of the
Company, effective 29 October 2024. Mr. Fairclough will join the Company's
Disclosure Committee and will relocate to Singapore in the coming months.

 

Bert-Jaap Dijkstra, who has stepped down as CFO and Executive Director with
immediate effect, will remain with the Company for a handover period prior to
his planned departure in early November 2024.

 

Mr. Fairclough has nearly 30 years of corporate finance, capital markets and
senior management and board experience across multiple geographies, including
corporate strategy, debt and equity structuring and capital raising, mergers
and acquisitions, capital management, financial planning, budgeting and
financial reporting.

 

From 2020 to 2023, Mr. Fairclough was CFO of Serinus Energy Plc, an AIM quoted
exploration and production (E&P) company with operations in Romania and
Tunisia. Before that, he was CFO and Corporate Secretary of Whalsay Energy
Limited, a private company focused on upstream appraisal and development on
the UK Continental Shelf. Mr. Fairclough is currently a Non-Executive Director
of Corcel Plc, an AIM quoted oil and gas E&P company focused on Angola and
Brazil.

 

Following a career in the UK military and prior to his upstream CFO roles, Mr.
Fairclough had a 17 year career in investment banking, with experience in both
corporate finance and corporate broking across several sectors, principally at
Rothschild and Merrill Lynch. Mr. Fairclough holds a LLB Laws degree from
University College London.

 

Paul Blakeley, President and CEO commented:

 

"I am delighted to welcome Andrew to the company and on behalf of everyone at
Jadestone, wish him success in his new role. With his investment banking
background and recent executive and board roles with upstream companies, he
has the ideal blend of skills and experience required to help us execute on
our strategic aims."

 

Regulatory disclosures:

 

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

 

Andrew John Fairclough, aged 55, has held the following directorships and/or
partnerships in the past five years:

 

 Current directorships/partnerships  Past directorships/partnerships
 Corcel Plc                          Serinus Energy Plc

                                     Serinus Energy Romania S.A.

                                     Serinus Holdings Limited

                                     Serinus Petroleum Consultants Limited

                                     Serinus Tunisia B.V.

                                     Serinus B.V.

 

Mr. Fairclough was acting as executive director of Xcite Energy Limited and
its operating subsidiary, Xcite Energy Resources between 2014 and 2017. In
December 2016, Xcite Energy Limited entered into liquidation.

 

Mr. Fairclough does not hold any ordinary shares nor options over ordinary
shares in the Company.

 

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 Mr.
Fairclough.

 

-ends-

For further information, please contact:

 

 Jadestone Energy plc
 Paul Blakeley, President and CEO                      +65 6324 0359 (Singapore)
 Andrew Fairclough, 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)
 Georgia Edmonds

 Elfie Kent

 

About Jadestone Energy

 

Jadestone Energy plc is an independent upstream 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, Nam Du/U Minh in Vietnam and the SFA Cluster offshore
Malaysia, 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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