REG - Touchstone Explrtn. - GRANT OF ANNUAL SHARE OPTIONS

Touchstone ExplorationAnnouncement

11/04/2022 07:16

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220411:nRSK8758Ha&default-theme=true

RNS Number : 8758H  Touchstone Exploration Inc.  11 April 2022

GRANT OF ANNUAL SHARE OPTIONS

 

CALGARY, ALBERTA (April 11, 2022) - Touchstone Exploration
Inc. ("Touchstone" or the "Company") announces the grant of 2,946,000 share
options on April 8, 2022 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
 Beverley Smith, Non-Executive Director                         130,000
 Stanley T. Smith, Non-Executive Director                       137,500
 Thomas E. Valentine, Non-Executive Director                    142,500
 Dr. Harrie Vredenburg, Non-Executive Director                  117,500
 John D. Wright, Non-Executive Director                         147,500
 Employees                                                      946,000
 Total                                                          2,946,000

 

Each share option allows the holder to purchase one Company common share at an
exercise price of C$1.43 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 7, 2022. 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 12,373,934 share options
outstanding, representing approximately 5.9 percent of the Company's
outstanding common shares.

 

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 (http://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 Advisor and Joint Broker)

Daniel Bush / Toby Gibbs / Michael
McGloin
            Tel: +44 (0) 207 408 4090

 

Canaccord Genuity (Joint Broker)

Adam James / Henry Fitzgerald O'Connor / Thomas
Diehl                       Tel: +44 (0) 207 523 8000

 

Camarco (Financial PR)

Billy Clegg / Emily Hall / Lily Pettifar
                                    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 Regulation.

 

 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.   Beverley Smith

                                                                   7.   Stanley T. Smith

                                                                   8.   Thomas E. Valentine

                                                                   9.   Dr. Harrie Vredenburg

                                                                   10.  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

                                                                   10.  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  Options over common shares of no par value in the capital of Touchstone

                                                            Exploration Inc., each with an exercise price of C$1.43 and an expiry date of
                                                                   8 April 2027.

      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              130,000
                                                                   7.   Nil              137,500
                                                                   8.   Nil              142,500
                                                                   9.   Nil              117,500
                                                                   10.  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.   130,000

                                                                   7.   137,500

                                                                   8.   142,500

                                                                   9.   117,500

                                                                   10.  147,500

                                                                   Aggregate prices

                                                                   1.   Nil

                                                                   2.   Nil

                                                                   3.   Nil

                                                                   4.   Nil

      - Price                                                      5.   Nil

                                                                   6.   Nil

                                                                   7.   Nil

                                                                   8.   Nil

                                                                   9.   Nil

                                                                   10.  Nil
 e)   Date of the transaction                                      8 April 2022
 f)   Place of the transaction                                     Outside a trading venue

 

d)

Aggregated information

- Aggregated volume

 

 

 

 

 

 

 

 

 

 

 

 

 

 

- Price

Aggregate volumes

1.   450,000

2.   300,000

3.   300,000

4.   142,500

5.   132,500

6.   130,000

7.   137,500

8.   142,500

9.   117,500

10.  147,500

Aggregate prices

1.   Nil

2.   Nil

3.   Nil

4.   Nil

5.   Nil

6.   Nil

7.   Nil

8.   Nil

9.   Nil

10.  Nil

e)

Date of the transaction

8 April 2022

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  DSHGPUCCCUPPGMU