Trinity Exploration - Notice of Interim Results
24/09/2024 07:00
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RNS Number : 3300F Trinity Exploration & Production 24 September 2024
24 September 2024
Trinity Exploration & Production plc
("Trinity" or "the Group" or "the Company")
Notice of Interim Results
Trinity Exploration & Production plc (AIM: TRIN), the independent E&P
company focused on Trinidad and Tobago, will announce its Interim Results for
the six months ended 30 June 2024 on Friday 27 September 2024.
- Ends -
Enquiries:
Trinity Exploration & Production plc Via Vigo Consulting
Jeremy Bridglalsingh, Chief Executive Officer
Julian Kennedy, Chief Financial Officer
Nick Clayton, Non-Executive Chairman
SPARK Advisory Partners Limited +44 (0)20 3368 3550
(Nominated Adviser and Financial Adviser)
Mark Brady
James Keeshan
Cavendish Capital Markets Limited (Broker) +44 (0)20 7397 8900
Leif Powis +44 (0)131 220 6939
Derrick Lee
Neil McDonald
Vigo Consulting Limited t (mailto:trinity@vigoconsulting.com) rinity
(mailto:trinity@vigoconsulting.com) @vigoconsulting.com
Finlay Thomson (mailto:trinity@vigoconsulting.com)
Patrick d'Ancona +44 (0)20 7390 0230
About Trinity (www.trinityexploration.com (http://www.trinityexploration.com)
)
Trinity is an independent oil production company focused solely on Trinidad
and Tobago. Trinity operates producing and development assets both onshore
and offshore, in the shallow water West and East Coasts of Trinidad.
Trinity's portfolio includes current production, significant near-term
production growth opportunities from low-risk developments and multiple
exploration prospects with the potential to deliver meaningful
reserves/resources growth. The Company operates all of its licences and,
across all of the Group's assets, management's estimate of the Group's 2P
reserves as at the end of 2023 was 12.91 mmstb. Group 2C contingent
resources are estimated to be 38.68 mmstb. The Group's overall 2P plus 2C
volumes are therefore 51.58 mmstb.
On 1 May 2024, the board of directors of each of Trinity and Touchstone
Exploration Inc (TSX, LSE: TXP) ("Touchstone") announced in accordance with
Rule 2.7 of the City Code on Takeovers and Mergers (the "Touchstone Offer")
that they had reached agreement on the terms of an all share offer pursuant to
which Touchstone would acquire the entire issued and to be issued ordinary
share capital of Trinity. The acquisition was to be effected by means of a
scheme of arrangement under Part 26 of the Companies Act 2006. Further
information on the Touchstone Offer can be found on Trinity's website at:
https://trinityexploration.com/investors/touchstone-offer/
(https://trinityexploration.com/investors/touchstone-offer/) .
On 2 August 2024, the boards of directors of Trinity and Lease Operators
Limited ("Lease Operators") announced in accordance with Rule 2.7 of the City
Code on Takeovers and Mergers that they had reached agreement on the terms of
a recommended all-cash acquisition of the entire issued, and to be issued,
share capital of Trinity by Lease Operators (the "Acquisition") to be effected
by means of a Court-sanctioned scheme of arrangement under Part 26 of the
Companies Act 2006. Further information on the Acquistion can be found on
Trinity's website at:
https://trinityexploration.com/investors/lease-operators-offer/
(https://trinityexploration.com/investors/lease-operators-offer/) .
On 18 September 2024 the Trinity Directors announced their intention to seek
the permission of the Court to formally withdraw the scheme of arrangement
relating to the Touchstone Offer (the "Withdrawal") with a Court hearing
scheduled for 25 September 2024 (the "Withdrawal Hearing").
The Touchstone Board confirmed on 19 September 2024 that it does not intend to
exercise its right to implement the Touchstone Offer by way of a Takeover
Offer for the Trinity Shares as an alternative to the scheme of arrangement
and received the Takeover Panel's consent for the Touchstone Offer to lapse
upon the Withdrawal taking effect.
The Acquisition remains subject to certain other Conditions, including the
approval of Trinity Shareholders at the Court Meeting and General Meeting, the
Court's sanction of the Scheme at the Court Hearing, the delivery of a copy of
the Court Order to the Registrar of Companies and the satisfaction or (where
capable of being waived) waiver of the other Conditions to the Acquisition.
Trinity is quoted on AIM, a market operated and regulated by the London Stock
Exchange Plc, under the ticker TRIN.
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