Trinity Exploration & Production Reorganisation of Significant Shareholding (8824O)
June 14 2022 - 12:56PM
UK Regulatory
TIDMTRIN
RNS Number : 8824O
Trinity Exploration & Production
14 June 2022
Trinity Exploration & Production plc
('Trinity' or the 'Company' or the 'Group')
Notification of Reorganisation of Significant Shareholding
Trinity Exploration & Production plc (AIM: TRIN), the
independent E&P company focused on Trinidad and Tobago,
announces that it has received a TR1 notification from the trust of
David and Christina Segel as set out below. David and Christina
Segel are re-organising their holdings and as a result the David
and Christina Segel Living Trust plans to dispose of the shares it
holds within Trinity and reallocate them within their family such
that there is no reduction in the family's combined shareholding.
The plan is to distribute to two new trusts: the David A Segel
Trust and the CS Living Trust. The initial distribution has
resulted in the David and Christina Segel Living Trust now holding
3,724,998 Ordinary shares, amounting to 9.58% in the capital of
Trinity.
While the TR1 as set out below describes how 0.84% of the
shareholding is being reorganised, the remainder of 9.58% is
expected to be transferred and the reorganisation completed in the
near future, which will be described in further announcements.
TR-1: Standard form for notification of major holdings
NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and
to the FCA in Microsoft Word format if possible) (i)
1a. Identity of the issuer or the Trinity Exploration & Production
underlying issuer of existing shares plc
to which voting rights are attached
(ii) :
----------------------------------------------
1b. Please indicate if the issuer is a non-UK issuer (please mark with
an "X" if appropriate)
Non-UK issuer
----
2. Reason for the notification (please mark the appropriate box or boxes
with an "X")
An acquisition or disposal of voting rights X
----
An acquisition or disposal of financial instruments
----
An event changing the breakdown of voting rights
----
Other (please specify) (iii) :
----
3. Details of person subject to the notification obligation (iv)
Name Arrabon Energy Services LLC, majority
owned by the David and Christina
Segel Living Trust
City and country of registered office
(if applicable)
4. Full name of shareholder(s) (if different from 3.) (v)
Name
----------------------------------------------
City and country of registered office
(if applicable)
----------------------------------------------
5. Date on which the threshold was 10(th) June 2022
crossed or reached (vi) :
----------------------------------------------
6. Date on which issuer notified 13(th) June 2022
(DD/MM/YYYY):
----------------------------------------------
7. Total positions of person(s) subject to the notification obligation
% of voting % of voting rights Total of both Total number
rights attached through financial in % (8.A + of voting rights
to shares (total instruments 8.B) held in issuer
of 8. A) (total of 8.B (8.A + 8.B)
1 + 8.B 2) (vii)
------------------ ---------------------- --------------- --------------------
Resulting situation
on the date
on which threshold
was crossed
or reached 9.58% 9.58% 9.58%
------------------ ---------------------- --------------- --------------------
Position of
previous notification
(if
applicable) 10.42% 10.42%
------------------ ---------------------- --------------- --------------------
8. Notified details of the resulting situation on the date on which
the threshold was crossed or reached (viii)
A: Voting rights attached to shares
Class/type of Number of voting rights % of voting rights
shares (ix)
ISIN code (if
possible)
Direct Indirect Direct Indirect
(DTR5.1) (DTR5.2.1) (DTR5.1) (DTR5.2.1)
---------------------
Ordinary US$1.00 3,724,998 9.58%
--------------------- --------------------- -------------------- ----------------
SUBTOTAL 8.
A 3,724,998 9.58%
-------------------------------------------- --------------------------------------
B 1: Financial Instruments according to DTR5.3.1R (1) (a)
Type of financial Expiration Exercise/ Number of voting % of voting
instrument date Conversion Period rights that may rights
(x) (xi) be acquired if
the instrument
is
exercised/converted.
----------- ------------------------- -------------------------- ----------------
SUBTOTAL 8. B
1
------------------------- -------------------------- ----------------
B 2: Financial Instruments with similar economic effect according to
DTR5.3.1R (1) (b)
Type of financial Expiration Exercise/ Physical Number of % of voting
instrument date (x) Conversion or cash voting rights rights
Period (xi) Settlement
(xii)
---------------- ---------------- ----------------- ----------------
SUBTOTAL
8.B.2
----------------- ----------------
9. Information in relation to the person subject to the notification
obligation (please mark the
applicable box with an "X")
Person subject to the notification obligation is not controlled
by any natural person or legal entity and does not control any other
undertaking(s) holding directly or indirectly an interest in the
(underlying) issuer (xiii)
Full chain of controlled undertakings through which the voting rights
and/or the
financial instruments are effectively held starting with the ultimate
controlling natural person or legal entity (please add additional
rows as necessary) (xiv)
Name (xv) % of voting rights % of voting rights Total of both if
if it equals or through financial it equals or is
is higher than the instruments if it higher than the
notifiable threshold equals or is higher notifiable threshold
than the notifiable
threshold
---------------------- --------------------- ------------------------
10. In case of proxy voting, please identify:
Name of the proxy holder
-----------------------------------------------
The number and % of voting rights
held
-----------------------------------------------
The date until which the voting rights
will be held
-----------------------------------------------
Enquiries:
Trinity Exploration & Production plc Via Walbrook
Nick Clayton, Non- Executive Chairman
Jeremy Bridglalsingh, Chief Executive Officer
SPARK Advisory Partners Limited ( Nominated Tel: +44 (0)20 3368
Adviser and Financial Adviser) 3550
Mark Brady
James Keeshan
Cenkos Securities PLC (Broker) Tel: +44 (0)20 7397
Leif Powis 8900
Neil McDonald +44(0)131 220 6939
Walbrook PR Limited Tel: +44 (0)20 7933
Nick Rome /Tom Cooper 8780
trinityexploration@walbrookpr.com
About Trinity ( www.trinityexploration.com )
Trinity is an independent oil production company focused solely
on Trinidad and Tobago . Trinity operates producing and development
assets both onshore and offshore, in the shallow water West and
East Coasts of Trinidad . Trinity's portfolio includes current
production, significant near-term production growth opportunities
from low risk developments and multiple exploration prospects with
the potential to deliver meaningful reserves/resources growth. The
Company operates all of its ten licences and, across all of the
Group's assets, management's estimate of the Group's 2P reserves as
at the end of 2021 was 19.73 mmbbls. Group 2C contingent resources
are estimated to be 47.22 mmbbls. The Group's overall 2P plus 2C
volumes are therefore 66.95 mmbbls."
Trinity is quoted on the AIM market of the London Stock Exchange
under the ticker TRIN.
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