Touchstone Exploration Inc. GRANT OF SHARE OPTIONS (9634I)
07 Aprile 2020 - 8:00AM
UK Regulatory
TIDMTXP
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 Initial notification
/Amendment
--------------------------- ------------------------------------------------
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 Options over common shares of no par
financial instrument, value in the capital of Touchstone Exploration
type of instrument Inc., each with an exercise price of
C$0.48 and an expiry date of 5 April
2025.
Identification code
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 Aggregate volumes
- Aggregated volume 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
- Price 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 rns@lseg.com or visit www.rns.com.
END
MSCUNRNRRAUSRAR
(END) Dow Jones Newswires
April 07, 2020 02:00 ET (06:00 GMT)
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