![](https://tracker.live.rns-distribution.com/track.live-rns/5203564_d9353a075fe0b610698e373da828b7e4.png)
EXERCISE OF STOCK OPTIONS, DIRECTOR / PDMR SHAREHOLDING AND RULE 2.9 ANNOUNCEMENT
CALGARY, ALBERTA (May 30, 2024) - Touchstone Exploration Inc. ("Touchstone" or the "Company") (TSX, LSE: TXP) announces that a non-executive director and certain employees gave notice to exercise stock options representing an aggregate 250,000 common shares of no par value in the Company ("Common Shares") on May 28, 2024.
As part of this exercise, Dr. Harrie Vredenburg, non-executive director, exercised stock options representing 115,000 Common Shares with an exercise price of C$0.23 (approximately 13.2 pence) per stock option. The stock options were issued on April 5, 2019 in accordance with the Company's shareholder approved stock option plan and were set to expire on May 31, 2024. The associated Common Shares were issued on May 29, 2024.
Application has been made for the 250,000 new Common Shares, which will rank pari passu with the Company's existing issued share capital, to be admitted to trading on AIM, which is expected to take place on June 6, 2024 ("Admission"). Immediately following Admission, the Company's issued share capital will consist of 235,299,086 Common Shares. The Company does not hold any Common Shares in treasury. This figure may be used by shareholders to determine if they are required to notify their interest in, or a change to their interest in, the Company.
In accordance with Rule 2.9 of the City Code on Takeovers and Mergers, Touchstone confirms that, following Admission, it will have in issue and admitted to trading and listing (as the case may be) on the AIM market of the London Stock Exchange and/or the Toronto Stock Exchange, 235,299,086 common shares. The International Securities Identification Number (ISIN) of the ordinary shares is CA89156L1085.
The notification below, made in accordance with the requirements of the UK Market Abuse Regulation, provides further detail regarding the above transaction.
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 or contact:
Touchstone Exploration Inc.
Paul Baay, President and Chief Executive Officer Tel: +1 (403) 750-4487
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 / Ana 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
Advisory
For reference purposes in this announcement, one British pound has been translated from Canadian dollars at a rate of 1.74 to 1.00.
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 | Harrie Vredenburg | ||||
2 | Reason for the notification | |||||
a) | Position/status | 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
Identification code | Common Shares of Touchstone Exploration Inc.
CA89156L1085 | ||||
b) | Nature of the transaction | Exercise of 115,000 stock options | ||||
c) |
Prices and volumes |
| ||||
d) | Aggregated information - Aggregated volume - Price | Aggregated volume: 115,000 stock options exercised Aggregated price: C$0.23 (c13.2p) each Aggregate total C$26,450 (c£15,180) | ||||
e) | Date of the transaction | May 29, 2024 | ||||
f) | Place of the transaction | Off market transaction
|
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.