Prima Energy acquires 28.3% in Jadestone Energy

PT Prima Petroleum Energi

02 September 2026

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION INTO OR IN ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.

THIS ANNOUNCEMENT IS AN ANNOUNCEMENT FALLING UNDER RULE 2.8 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE "UK TAKEOVER CODE").

FOR IMMEDIATE RELEASE                                                                                                      2 September 2026

Statement regarding Jadestone Energy plc (the "Company" or "Jadestone Energy")

PT Prima Petroleum Energi ("Prima Energy"), a leading independent oil and gas company in Indonesia, announces that it has reached an agreement to acquire an interest in c.28.3% of the issued share capital of Jadestone Energy from funds managed by Tyrus Capital S.A.M. (the terms of which are set out in a private share purchase agreement between Prima Energy and funds managed by Tyrus Capital S.A.M.).

Prima Energy has no intention of making an offer to acquire Jadestone Energy and is bound by the terms of Rule 2.8 of the UK Takeover Code in that respect.

Prima Energy is an experienced upstream oil and gas operator in Indonesia and will support the Company as it continues to deliver long term growth and value creation for all shareholders.

Notes relating to Rule 2.8 of the UK Takeover Code

Under Note 2 on Rule 2.8 of the UK Takeover Code, Prima Energy reserves the right to set the restrictions in Rule 2.8 aside in the following circumstances:

(a)  with the agreement of the board of Jadestone Energy;

(b)  if a third party announces a firm intention to make an offer for Jadestone Energy;

(c)  if a third party announces a possible offer for Jadestone Energy;

(d)  if Jadestone Energy announces a Rule 9 waiver proposal (see Note 1 of the Notes on Dispensations from Rule 9) or a reverse takeover (as defined in the UK Takeover Code); or

(e)  if there has been a material change of circumstances (as determined by the Takeover Panel).

Standard Chartered acted as sole financial adviser and Herbert Smith Freehills Kramer LLP acted as legal adviser to Prima Energy in connection with the transaction.

END

Enquiries:

Standard Chartered (Financial Adviser to Prima Energy) + [phone] / [phone]

Jeremy Low

Kamal Khullar

Keith Welch

Laurence Jacometti

Important Notices

This announcement is not intended to, and does not, constitute or form part of any offer, invitation or the solicitation of an offer to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of, any securities, or the solicitation of any vote or approval in any jurisdiction, whether pursuant to this announcement or otherwise. Any offer, if made, will be made solely by certain offer documentation which will contain the full terms and conditions of any offer, including details of how it may be accepted.

The release, distribution or publication of this announcement in whole or in part, directly or indirectly in, into or from jurisdictions outside the United Kingdom may be restricted by law and therefore persons into whose possession this announcement comes should inform themselves about, and observe, such restrictions. Any failure to comply with the restrictions may constitute a violation of the securities law of any such jurisdiction.

This announcement has been prepared in accordance with English law and information disclosed may not be the same as that which would have been prepared in accordance with the laws of jurisdictions outside England.

Standard Chartered Bank (Singapore) Limited (UEN No.: 201224747C) ("Standard Chartered"), which is authorised by the Monetary Authority of Singapore, is acting exclusively for Prima Energy and no one else in connection with the transaction and will not be responsible to anyone other than Prima Energy for providing the protections afforded to clients of Standard Chartered nor for providing advice in relation to the transaction or any other matter referred to in this announcement.

 

END