REG - Touchstone Explrtn. - GRANT OF LONG-TERM SHARE AWARDS
27/08/2025 07:30
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RNS Number : 8366W Touchstone Exploration Inc. 27 August 2025
GRANT OF LONG-TERM SHARE AWARDS
CALGARY, ALBERTA (August 27, 2025) - Touchstone Exploration
Inc. ("Touchstone" or the "Company") reports that the Company granted its
non-executive directors, executive officers and key employees share awards on
August 25, 2025 as part of its long-term compensation program.
The Company issued 3,537,139 restricted share units ("RSUs") and 3,423,974
performance share units ("PSUs") under its shareholder approved omnibus
incentive compensation plan to its executive officers and key employees.
The RSUs vest in equal one-third tranches on each of the first three
anniversaries of the grant date. PSU awards cliff vest on the third
anniversary of the grant date and are subject to a performance multiplier
ranging from zero times to 1.75 times based on achievement of predefined
corporate performance targets set by the Board of Directors ("Board") over the
vesting period. RSU awards are fixed while the number of PSUs earned is
variable. Each RSU and PSU award may, at the Board's discretion, be settled in
common shares, cash, or a combination thereof. If paid in cash, the plan
participant will receive a cash payment based on the fair value of the
underlying common shares on the applicable vesting date.
In accordance with its long-term director compensation plan, the Company
issued 1,476,424 deferred share units ("DSUs") to its non-executive directors.
DSUs vest immediately upon grant but may only be redeemed after the director
ceases to be a member of the Board. DSUs are settled in cash based on the
market price of the Company's common shares at the time of redemption.
The annual grants were awarded to the following recipients:
Recipient Number of RSUs
Paul R. Baay, Director, President and Chief Executive Officer 660,128
Scott Budau, Chief Financial Officer 462,090
Brian Hollingshead, EVP, Engineering and Business Development 386,647
James Shipka, EVP, Asset Development and HSE 418,710
Employees 1,609,564
Total 3,537,139
Recipient Number of PSUs
Paul R. Baay, Director, President and Chief Executive Officer 660,128
Scott Budau, Chief Financial Officer 462,090
Brian Hollingshead, EVP, Engineering and Business Development 386,647
James Shipka, EVP, Asset Development and HSE 418,710
Employees 1,496,399
Total 3,423,974
Recipient Number of DSUs
Priya Marajh, Non-Executive Director 278,008
Kenneth R. McKinnon, Non-Executive Director 320,634
Peter Nicol, Non-Executive Director 299,887
Beverley Smith, Non-Executive Director 278,008
Stanley T. Smith, Non-Executive Director 299,887
Total 1,476,424
The notification below, made in accordance with the requirements of the UK
Market Abuse Regulation, provides further detail on the above transactions.
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
(https://url.avanan.click/v2/___http:/www.touchstoneexploration.com/___.YXAxZTpzaG9yZWNhcDphOm86ZWU5OTBkNjgxOWY4MjY5OTljZGM0MTJhZGM2MzFiODY6NjplN2UzOjJhYWNhMjgzNmMzYWM2OGIwOTE2ZjliOTQ1MDBiNmFjYzVmNzFiN2RhYjY1MjhkZjlkMGQ2YjhiNjQ0NmU5MDA6cDpUOk4)
or contact:
Touchstone Exploration Inc.
Mr. Paul Baay, President and Chief Executive
Officer Tel: +1 (403) 750-4405
Mr. 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 / Charlie
Hammond
Tel: +44 (0) 207 523 8000
FTI Consulting (Financial PR)
Nick Hennis / Ben
Brewerton
Tel: +44 (0) 203 727 1000
Email: touchstone@fticonsulting.com (mailto:touchstone@fticonsulting.com)
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 1. Paul R. Baay
2. Scott Budau
3. Brian Hollingshead
4. James Shipka
5. Paul R. Baay
6. Scott Budau
7. Brian Hollingshead
8. James Shipka
9. Priya Marajh
10. Kenneth R. McKinnon
11. Peter Nicol
12. Beverley Smith
13. Stanley T. Smith
2. Reason for the notification
a) Position/status 1. Director, President and Chief Executive Officer
2. Chief Financial Officer
3. EVP, Engineering and Business Development
4. EVP, Asset Development and HSE
5. Director, President and Chief Executive Officer
6. Chief Financial Officer
7. EVP, Engineering and Business Development
8. EVP, Asset Development and HSE
9. Non-Executive Director
10. Non-Executive Director
11. Non-Executive Director
12. Non-Executive Director
13. 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 1. Restricted share units over common shares of no par value in the capital
of Touchstone Exploration Inc.
2. Restricted share units over common shares of no par value in the capital
of Touchstone Exploration Inc.
Identification code 3. Restricted share units over common shares of no par value in the capital
of Touchstone Exploration Inc.
4. Restricted share units over common shares of no par value in the capital
of Touchstone Exploration Inc.
5. Performance share units over common shares of no par value in the capital
of Touchstone Exploration Inc.
6. Performance share units over common shares of no par value in the capital
of Touchstone Exploration Inc.
7. Performance share units over common shares of no par value in the capital
of Touchstone Exploration Inc.
8. Performance share units over common shares of no par value in the capital
of Touchstone Exploration Inc.
9. Deferred share units over common shares of no par value in the capital of
Touchstone Exploration Inc.
10. Deferred share units over common shares of no par value in the
capital of Touchstone Exploration Inc.
11. Deferred share units over common shares of no par value in the
capital of Touchstone Exploration Inc.
12. Deferred share units over common shares of no par value in the
capital of Touchstone Exploration Inc.
13. Deferred share units over common shares of no par value in the
capital of Touchstone Exploration Inc.
CA89156L1085
b) Nature of the transactions Grant of share units to executive directors/officers
c) Prices and volumes
Effective prices Volumes
1. Nil 660,128
2. Nil 462,090
3. Nil 386,647
4. Nil 418,710
5. Nil 660,128
6. Nil 462,090
7. Nil 386,647
8. Nil 418,710
9. Nil 278,008
10. Nil 320,634
11. Nil 299,887
12. Nil 278,008
13. Nil 299,887
d) Aggregated information Aggregate volumes
- Aggregated volume 1. 660,128
2. 462,090
3. 386,647
4. 418,710
5. 660,128
6. 462,090
7. 386,647
8. 418,710
9. 278,008
10. 320,634
11. 299,887
12. 278,008
13. 299,887
Aggregate prices
- Price 1. Nil
2. Nil
3. Nil
4. Nil
5. Nil
6. Nil
7. Nil
8. Nil
9. Nil
10. Nil
11. Nil
12. Nil
13. Nil
e) Date of the transaction August 25, 2025
f) Place of the transaction Outside a trading venue
d)
Aggregated information
- Aggregated volume
- Price
Aggregate volumes
1. 660,128
2. 462,090
3. 386,647
4. 418,710
5. 660,128
6. 462,090
7. 386,647
8. 418,710
9. 278,008
10. 320,634
11. 299,887
12. 278,008
13. 299,887
Aggregate prices
1. Nil
2. Nil
3. Nil
4. Nil
5. Nil
6. Nil
7. Nil
8. Nil
9. Nil
10. Nil
11. Nil
12. Nil
13. Nil
e)
Date of the transaction
August 25, 2025
f)
Place of the transaction
Outside a trading venue
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