EXERCISE OF STOCK OPTIONS,
DIRECTOR / PDMR SHAREHOLDING AND RULE 2.9
ANNOUNCEMENT
CALGARY, ALBERTA (May 28, 2024) -
Touchstone Exploration Inc. ("Touchstone" or the "Company") (TSX, LSE: TXP) announces that
non-executive director Mr. Kenneth McKinnon gave notice to exercise stock options representing an
aggregate 132,500 common shares of no par value in the Company
("Common
Shares") on May 24,
2024.
Mr. McKinnon exercised stock options
representing 132,500 Common Shares with an exercise price of C$0.23
(approximately 13.2 pence) per stock option. The stock options were
issued on April 5, 2019 in accordance with the Company's
shareholder approved stock option plan and were set to expire on
May 31, 2024. The associated Common Shares were issued on May 28,
2024.
Application has been made for the
132,500 new Common Shares, which will rank pari passu with the
Company's existing issued share capital, to be admitted to trading
on AIM, which is expected to take place on June 3, 2024
("Admission"). Immediately following Admission, the Company's
issued share capital will consist of 234,518,561 Common Shares. The
Company does not hold any Common Shares in treasury. This figure
may be used by shareholders to determine if they are required to
notify their interest in, or a change to their interest in, the
Company.
In accordance with Rule 2.9 of the
City Code on Takeovers and Mergers, Touchstone confirms that,
following Admission, it will have in issue and admitted to trading
and listing (as the case may be) on the AIM market of the London
Stock Exchange and/or the Toronto Stock Exchange, 234,518,561
common shares. The International Securities Identification Number
(ISIN) of the ordinary shares is CA89156L1085.
The notification below, made in
accordance with the requirements of the UK Market Abuse Regulation,
provides further detail regarding the above transaction.
Touchstone Exploration Inc.
Touchstone Exploration Inc. is a
Calgary, Alberta based company engaged in the business of acquiring
interests in petroleum and natural gas rights and the exploration,
development, production and sale of petroleum and natural gas.
Touchstone is currently active in onshore properties located in the
Republic of Trinidad and Tobago. The Company's common shares are
traded on the Toronto Stock Exchange and the AIM market of the
London Stock Exchange under the symbol "TXP".
For further information about
Touchstone, please visit our website at
www.touchstoneexploration.com or
contact:
Touchstone Exploration Inc.
Paul Baay, President and Chief
Executive
Officer
Tel: +1 (403) 750-4487
Scott Budau, Chief Financial
Officer
Shore Capital (Nominated Advisor and Joint
Broker)
Daniel Bush / Toby Gibbs / Tom
Knibbs
Tel: +44 (0) 207 408 4090
Canaccord Genuity (Joint Broker)
Adam James / Ana
Ercegovic
Tel: +44 (0) 207 523 8000
FTI
Consulting (Financial PR)
Nick Hennis / Ben Brewerton
Tel: +44 (0) 203 727 1000
Email: touchstone@fticonsulting.com
Advisory
For reference purposes in this
announcement, one British pound has been translated from Canadian
dollars at a rate of 1.74 to 1.00.
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them in accordance with the Market Abuse
Regulation.
|
1
|
Details of the person discharging managerial responsibilities
/ person closely associated
|
|
a)
|
Name
|
Kenneth McKinnon
|
|
2
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Reason for the notification
|
|
a)
|
Position/status
|
Non-executive Director
|
|
b)
|
Initial notification
/Amendment
|
Initial notification
|
|
3
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
|
a)
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Name
|
Touchstone Exploration
Inc.
|
|
b)
|
LEI
|
2138008URBSUC1J24J73
|
|
4
|
Details of the transaction(s): section to be repeated for (i)
each type of instrument; (ii) each type of transaction; (iii) each
date; and (iv) each place where transactions have been
conducted
|
|
a)
|
Description of the financial
instrument, type of instrument
Identification code
|
Common Shares of Touchstone
Exploration Inc.
CA89156L1085
|
|
b)
|
Nature of the transaction
|
Exercise of 132,500 stock
options
|
|
c)
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Prices and volumes
|
|
Effective Price
|
Volume
|
|
C$0.23 (c13.2p)
|
132,500
|
|
|
d)
|
Aggregated information
- Aggregated volume
- Price
|
Aggregated volume: 132,500 stock
options exercised
Aggregated price: C$0.23 (c13.2p)
each
Aggregate total C$30,475
(c£17,490)
|
|
e)
|
Date of the transaction
|
May 28, 2024
|
|
f)
|
Place of the transaction
|
Off market transaction
|