UK's Trinity Exploration soars after $30 mln deal with Touchstone

Trinity Exploration & Production

01/05/2024 08:20

** Shares of Trinity Exploration & Production  TRIN.L  up
48.6% at 53.5p
    ** Touchstone Exploration  TXP.L  to acquire Trinity for
about 24.1 mln pounds ($30.07 mln)
    ** London-listed shares of Touchstone were down 5.5% at 39p
    ** Under the all-share offer, Trinity shareholders will
receive 1.5 new Touchstone share for each Trinity share
    ** Upon completion, Trinity shareholders will own about
19.9% of the combined company
    ** Shares of TXP fell ~4% in 2024, while TRIN down ~12%



($1 = 0.8013 pounds)

 (Reporting by Yamini Kalia in Bengaluru)
 ((Yamini.Kalia@thomsonreuters.com;))