Jadestone Energy Changes Fiscal Year End to December 31
Singapore (FSCwire) - Jadestone Energy Inc. (TSXV: "JSE") (the "Company") is pleased to announce that it intends to change its fiscal year end from March 31 to December 31. This notice is given pursuant to Section 4.8(2) of National Instrument 51-102-Continuous Disclosure Obligations ("NI 51-102").
Chief Financial Officer, Dan Young said "This change will bring Jadestone into line with most of its peers, simplify our financial processes, and better align with regulatory reporting and host nations' planning periods. Most of our subsidiaries are required to report on a calendar year basis for local regulators, meaning this change will result in efficiency gains and hence cost savings."
The Company will begin transitioning to the new fiscal year end immediately. The length and ending date of the periods, including the comparative periods, of each interim and annual financial report will be as follows:
| Transition Year | Comparat-ive Annual Financial Statements to Transition Year | New Financial Year | Comparat-ive Annual Financial Statements to New Financial Year | Interim Period for Transition Year | Comparat-ive Interim Periods to Interim Periods in Transition Year | Interim Periods for New Financial Year | Comparat-ive Interim Periods to Interim Periods in New Financial Year |
| 9 months ended December 31, 2017 | 12 months ended March 31, 2017 | 12 months ended December 31, 2018 | 9 months ended December 31, 2017 | 3 months ended | 3 months | 3 months ended March 31, 2018 | 3 months ended March 31, 2017 |
| 6 months ended September 30, 2017 | 6 months ended September 30, 2016 | 6 months ended | 6 months ended | ||||
| 9 months ended September 30, 2018 | 9 months ended September 30, 2017 |
The Company intends to release its interim financial report for the three months ended September 30, 2017 on November 28, 2017. Further details on the investor webcast will be provided in due course. The financial report for the transitional period ended December 31, 2017 will be issued on or before the filing deadline of April 30, 2018, as prescribed by sections 4.2 and 4.4 of NI 51-102.
About Jadestone
Jadestone Energy Inc. is TSX-V listed oil and gas company headquartered in Singapore. The Company is currently engaged in production, development and exploration and appraisal activities in Australia, Indonesia, Vietnam and the Philippines. Following a recent strategic review, the Company is focusing on acquiring assets with production in the near term, and where significant follow-on reinvestment opportunities exist to enhance value, as well as undeveloped discoveries which may be rapidly brought to production.
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For further information, please contact:
Media and General Enquiries
Email: contact@jadestone-energy.com
Phone: +65 6324 0359 ۬
Investor Enquiries
Email: IR@jadestone-energy.com
Phone: +1 (403) 975-6752
Website
www.jadestone-energy.com
Cautionary Statements
Certain statements in this press release are forward-looking statements and information (collectively "forward-looking statements"), within the meaning of the applicable Canadian securities legislation, as well as other applicable international securities laws. The forward-looking statements contained in this press release are forward-looking and not historical facts.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This information is provided by RNS
The company news service from the London Stock Exchange
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/jadestone11132017.pdf
Source: Jadestone Energy Inc. (TSX Venture:JSE)
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