Touchstone Explrtn. - GRANT OF LONG-TERM SHARE AWARDS
19/07/2024 10:36
For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240719:nRSS0272Xa&default-theme=true
RNS Number : 0272X Touchstone Exploration Inc. 19 July 2024
GRANT OF LONG-TERM SHARE AWARDS
CALGARY, ALBERTA (July 19, 2024) - Touchstone Exploration
Inc. ("Touchstone" or the "Company") reports that the Company granted its
non-executive directors, executive officers and key employees share awards on
July 12, 2024 as part of its long-term compensation program.
The Company issued 1,447,780 restricted share units ("RSUs") and 1,397,780
performance share units ("PSUs") under its shareholder approved omnibus
incentive compensation plan to its executive officers and key employees. The
RSUs vest one third on each of the next three anniversaries of the grant date
and the number of share awards are fixed. The PSUs vest on June 11, 2027 and
the number of share awards are variable. Each award may, in the Board of
Director's ("Board") sole discretion, entitle the holder to be issued the
number of Company common shares designated in the award or payment in cash. 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. The
number of RSUs and PSUs may be adjusted for dividend equivalents from the
grant date at the discretion of the Board.
PSUs are subject to a performance multiplier. This multiplier, ranging from
zero to 1.75, will be applied to the original PSU awards granted on vesting
and is dependent on the performance of the Company relative to predefined
corporate performance measures set by the Board for the three-year vesting
period.
In accordance with its long-term director compensation plan, the Company
issued 977,332 deferred share units ("DSUs") to its non-executive directors.
The DSUs fully vest on the grant date but are only available for redemption
when the director ceases to be a member of the Board. Awards are settled in
cash as determined by the value of the underlying common shares and may be
adjusted based on dividend equivalents from the grant date at the discretion
of the Board.
The annual grants were awarded to the following recipients:
Recipient Number of RSUs
Paul R. Baay, Director, President and Chief Executive Officer 291,667
Scott Budau, Chief Financial Officer 185,000
Brian Hollingshead, EVP, Engineering and Business Development 139,473
James Shipka, EVP, Asset Development and HSE 185,000
Employees 646,640
Total 1,447,780
Recipient Number of PSUs
Paul R. Baay, Director, President and Chief Executive Officer 291,667
Scott Budau, Chief Financial Officer 185,000
Brian Hollingshead, EVP, Engineering and Business Development 139,473
James Shipka, EVP, Asset Development and HSE 185,000
Employees 596,640
Total 1,397,780
Recipient Number of DSUs
Jenny Alfandary, Non-Executive Director 108,333
Priya Marajh, Non-Executive Director 108,333
Kenneth R. McKinnon, Non-Executive Director 132,500
Peter Nicol, Non-Executive Director 122,833
Beverley Smith, Non-Executive Director 122,833
Stanley T. Smith, Non-Executive Director 132,500
Harrie Vredenburg, Non-Executive Director 108,333
John D. Wright, Non-Executive Director 141,667
Total 977,332
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) 750-4487
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 / Anna Ercegovic
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. Jenny Alfandary
10. Priya Marajh
11. Kenneth R. McKinnon
12. Peter Nicol
13. Beverley Smith
14. Stanley T. Smith
15. Dr. Harrie Vredenburg
16. John D. Wright
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
14. Non-Executive Director
15. Non-Executive Director
16. 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.
14. Deferred share units over common shares of no par value in the
capital of Touchstone Exploration Inc.
15. Deferred share units over common shares of no par value in the
capital of Touchstone Exploration Inc.
16. 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 291,667
2. Nil 185,000
3. Nil 139,473
4. Nil 185,000
5. Nil 291,667
6. Nil 185,000
7. Nil 139,473
8. Nil 185,000
9. Nil 108,333
10. Nil 108,333
11. Nil 132,500
12. Nil 122,833
13. Nil 122,833
14. Nil 132,500
15. Nil 108,333
16. Nil 141,667
d) Aggregated information Aggregate volumes
- Aggregated volume 1. 291,667
2. 185,000
3. 139,473
4. 185,000
5. 291,667
6. 185,000
7. 139,473
8. 185,000
9. 108,333
10. 108,333
11. 132,500
12. 122,833
13. 122,833
14. 132,500
15. 108,333
- Price 16. 141,667
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
14. Nil
15. Nil
16. Nil
e) Date of the transaction July 12, 2024
f) Place of the transaction Outside a trading venue
d)
Aggregated information
- Aggregated volume
- Price
Aggregate volumes
1. 291,667
2. 185,000
3. 139,473
4. 185,000
5. 291,667
6. 185,000
7. 139,473
8. 185,000
9. 108,333
10. 108,333
11. 132,500
12. 122,833
13. 122,833
14. 132,500
15. 108,333
16. 141,667
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
14. Nil
15. Nil
16. Nil
e)
Date of the transaction
July 12, 2024
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 (mailto:rns@lseg.com)
or visit
www.rns.com (http://www.rns.com/)
.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
. END DSHRPMTTMTJBTAI
Recent news on Touchstone Exploration
See all newsTouchstone Explrtn. - Closing of the Fundraise and Notice of AGM
Touchstone Explrtn. - Final Results of Fundraise and Wrap Retail Offer
Brief: Touchstone Exploration Raises US$10.9 Million At 7 Pence Per New Common Share
Touchstone Explrtn. - Initial Results of Fundraise
Brief: Touchstone launches Proposed Fundraise Of $10Mln To $15Mln