Touchstone Exploration Inc. GRANT OF SHARE OPTIONS

Data : 07/04/2020 @ 08:00
Fonte : UK Regulatory (RNS & others)
Titolo : Touchstone Exploration Inc (TXP)
Quotazione : 46.5  1.0 (2.20%) @ 15:54
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Touchstone Exploration Inc. GRANT OF SHARE OPTIONS

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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

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(END) Dow Jones Newswires

April 07, 2020 02:00 ET (06:00 GMT)

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