Touchstone Explrtn. - GRANT OF LONG-TERM SHARE AWARDS

Touchstone Exploration

27/08/2025 07:20

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 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

 

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
Identification code
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.
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
- 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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