2nd Aug 2022 14:45
Jadestone Energy PLC - Perth-based oil and gas development company with assets in Australia, Malaysia, Indonesia, Vietnam and the Philippines - Launches a share buyback programme to repurchase up to 46.6 million shares. The maximum pecuniary amount of the programme is USD25 million. It will be conducted by Stifel Nicolaus Europe Ltd and is part of its plan to return up to USD100 million of cash to shareholders over the course of 12 months. The purpose of the programme is to reduce the share capital and all repurchased shares will be cancelled.
"[W]e are very pleased to be able to launch this buyback programme now. This delivers on our commitment, originally announced in early June 2022, to significantly increase returns to shareholders," Chief Executive Paul Blakeley comments.
Current stock price: 100.00 pence, up 3.1% on Tuesday
12-month change: up 27%
By Abby Amoakuh; [email protected]
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