REG - Touchstone Explrtn. - GRANT OF ANNUAL SHARE OPTIONS
19/09/2023 07:00
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RNS Number : 8361M Touchstone Exploration Inc. 19 September 2023
GRANT OF ANNUAL SHARE OPTIONS
CALGARY, ALBERTA (September 19, 2023) - Touchstone Exploration
Inc. ("Touchstone" or the "Company") announces the grant of 3,758,000 share
options on September 18, 2023 to its executive officers, non-executive
directors and key employees in accordance with the Company's shareholder
approved omnibus incentive compensation plan.
Each share option allows the holder to purchase one Company common share at an
exercise price of C$1.15 per common share, which was measured by reference to
the five-day volume weighted average price of the Company's common shares on
the Toronto Stock Exchange to the close of trading on September 15, 2023. The
share options have a five-year term and vest one third on each of the next
three anniversaries of the grant date.
The annual grant was awarded to the following recipients:
Recipient Number of share
options granted
Paul R. Baay, Director, President and Chief Executive Officer 500,000
Scott Budau, Chief Financial Officer 320,000
James Shipka, Chief Operating Officer 320,000
Jenny Alfandary, Non-Executive Director 120,000
Priya Marajh, Non-Executive Director 115,000
Kenneth R. McKinnon, Non-Executive Director 142,500
Peter Nicol, Non-Executive Director 132,500
Beverley Smith, Non-Executive Director 127,500
Stanley T. Smith, Non-Executive Director 137,500
Harrie Vredenburg, Non-Executive Director 115,000
John D. Wright, Non-Executive Director 150,000
Thomas E. Valentine, Corporate Secretary 110,000
Employees 1,468,000
Total 3,758,000
Following this grant, the Company has a total of 15,217,101 share options
outstanding, representing approximately 6.5 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
(https://url.avanan.click/v2/___http:/www.touchstoneexploration.com/___.YXAxZTpzaG9yZWNhcDphOm86N2UwYjZlYjRjYThhOTkzNzAwNTEyZDMyNjUzZjY2NmQ6NjpjYWIwOmZhNjZlYzhiYTc4ZWVmYzgyYzE5YWI5NDFjYzI1NjAwZGQ0M2MxNTYzNTU1NTRlYjM2YTA3OGE5NzlhOTExNDg6cDpG)
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 / Iain Sexton
Tel: +44 (0) 207 408 4090
Canaccord Genuity (Joint Broker)
Adam James / Gordon
Hamilton
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. James Shipka
4. Jenny Alfandary
5. Priya Marajh
6. Kenneth R. McKinnon
7. Peter Nicol
8. Beverley Smith
9. Stanley T. Smith
10. Dr. Harrie Vredenburg
11. John D. Wright
12. Thomas E. Valentine
2. Reason for the notification
a) Position/status 1. Director, President and 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
11. Non-Executive Director
12. Corporate Secretary
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$1.15 and an expiry date of
September 18, 2028.
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 500,000
2. Nil 320,000
3. Nil 320,000
4. Nil 120,000
5. Nil 115,000
6. Nil 142,500
7. Nil 132,500
8. Nil 127,500
9. Nil 137,500
10. Nil 115,000
11. Nil 150,000
12. Nil 110,000
d) Aggregated information Aggregate volumes
- Aggregated volume 1. 500,000
2. 320,000
3. 320,000
4. 120,000
5. 115,000
6. 142,500
7. 132,500
8. 127,500
9. 137,500
10. 115,000
11. 150,000
12. 110,000
Aggregate prices
1. Nil
2. Nil
- Price 3. Nil
4. Nil
5. Nil
6. Nil
7. Nil
8. Nil
9. Nil
10. Nil
11. Nil
12. Nil
e) Date of the transaction September 18, 2023
f) Place of the transaction Outside a trading venue
d)
Aggregated information
- Aggregated volume
- Price
Aggregate volumes
1. 500,000
2. 320,000
3. 320,000
4. 120,000
5. 115,000
6. 142,500
7. 132,500
8. 127,500
9. 137,500
10. 115,000
11. 150,000
12. 110,000
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
e)
Date of the transaction
September 18, 2023
f)
Place of the transaction
Outside a trading venue
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