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Touchstone Explrtn. - GRANT OF SHARE OPTIONS

RNS Number : 9634I
Touchstone Exploration Inc.
07 April 2020
 

GRANT OF SHARE OPTIONS

 

CALGARY, ALBERTA (April 7, 2020) - Touchstone Exploration Inc. ("Touchstone" or the "Company") announces the grant of 2,611,000 share options on April 6, 2020 to its executive officers, non-executive directors and key employees in accordance with the Company's shareholder approved stock option plan. The annual grant was awarded to the following recipients:

 

Recipient

Number of share options granted

 

 

Paul R. Baay, President, Chief Executive Officer and Director

450,000

Scott Budau, Chief Financial Officer

300,000

James Shipka, Chief Operating Officer

300,000

Kenneth R. McKinnon, Non-Executive Director

142,500

Peter Nicol, Non-Executive Director

132,500

Stanley T. Smith, Non-Executive Director

137,500

Thomas E. Valentine, Non-Executive Director

140,000

Dr. Harrie Vredenburg, Non-Executive Director

115,000

John D. Wright, Non-Executive Director

147,500

Employees

746,000

 

 

Total

2,611,000

 

The share options were issued with an exercise price of C$0.48 per common share, which was measured by reference to the five-day weighted average trading price of the Company's common shares on the Toronto Stock Exchange to the close of trading on April 3, 2020. The share options have a five-year term and vest one third on each of the next three anniversaries of the grant date.

 

Following this grant, the Company has a total of 10,917,800 share options outstanding, representing 6.0% of the Company's outstanding common shares.

 

The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail on the above transactions.

 

Touchstone Exploration Inc.

 

Touchstone Exploration Inc. is a Calgary 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.

Mr. Paul Baay, President and Chief Executive Officer                                 Tel: +1 (403) 750-4487

Mr. Scott Budau, Chief Financial Officer

 

Shore Capital (Nominated Adviser and Broker)

Nominated Advisor: Edward Mansfield / Daniel Bush / Michael McGloin   Tel: +44 (0) 207 408 4090

Corporate Broking: Jerry Keen

 

Camarco (Financial PR)

Nick Hennis / Bill Clegg                                                                              Tel: +44 (0) 203 781 8330

 

 

 

 

 

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them in accordance with the Market Abuse Regulations.

 

1.

Details of the person discharging managerial responsibilities / person closely associated

a)

 

Name

 

1.   Paul R. Baay

2.   Scott Budau

3.   James Shipka

4.   Kenneth R. McKinnon

5.   Peter Nicol

6.   Stanley T. Smith

7.   Thomas E. Valentine

8.   Dr. Harrie Vredenburg

9.   John D. Wright

2.

Reason for the notification

a)

Position/status

1.   Chief Executive Officer

2.   Chief Financial Officer

3.   Chief Operating Officer

4.   Non-Executive Director

5.   Non-Executive Director

6.   Non-Executive Director

7.   Non-Executive Director

8.   Non-Executive Director

9.   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)

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

Options over common shares of no par value in the capital of Touchstone Exploration Inc., each with an exercise price of C$0.48 and an expiry date of 5 April 2025.

 

CA89156L1085

b)

Nature of the transactions

Grant of share options to executive directors/officers

c)

 

Prices and volumes

 

 

Effective price

Volumes

1.

Nil

450,000

2.

Nil

300,000

3.

Nil

300,000

4.

Nil

142,500

5.

Nil

132,500

6.

Nil

137,500

7.

Nil

140,000

8.

Nil

115,000

9.

Nil

147,500

  

d)

Aggregated information

- Aggregated volume

 

 

 

 

 

 

 

 

 

 

 

 

 

 

- Price

Aggregate volumes

1.   450,000

2.   300,000

3.   300,000

4.   142,500

5.   132,500

6.   137,500

7.   140,000

8.   115,000

9.   147,500

Aggregate prices

1.   Nil

2.   Nil

3.   Nil

4.   Nil

5.   Nil

6.   Nil

7.   Nil

8.   Nil

9.   Nil

e)

Date of the transaction

6 April 2020

f)

Place of the transaction

Outside a trading venue

 

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
END
 
 
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Quick facts: Touchstone Exploration Inc

Price: 56.65

Market: AIM
Market Cap: £103.95 m
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