GRANT OF ANNUAL SHARE OPTIONS

RNS Number : 7068Z
Touchstone Exploration Inc.
25 May 2021
 

GRANT OF ANNUAL SHARE OPTIONS

 

CALGARY, ALBERTA (May 25, 2021) - Touchstone Exploration Inc. ("Touchstone" or the "Company") announces the grant of 2,713,000 share options on May 25, 2021 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

15,000

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

828,000

Total

2,713,000

 

The share options were issued with an exercise price of C$1.73 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 May 21, 2021. 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 12,030,434 share options outstanding, representing 5.7 percent of the Company's outstanding common shares.

 

The notification below, made in accordance with the requirements of the EU 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 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)

Nominated Advisor: Edward Mansfield / Daniel Bush / Michael McGloin  Tel: +44 (0) 207 408 4090

Corporate Broking: Jerry Keen

 

Canaccord Genuity (Joint Broker) 

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

 

Camarco (Financial PR)

Nick Hennis / Billy Clegg    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 Regulations.

 

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

 

 

Identification code

Options over common shares of no par value in the capital of Touchstone Exploration Inc., each with an exercise price of C$1.73 and an expiry date of 25 May 2026.

 

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

15,000

7.

Nil

137,500

8.

Nil

142,500

9.

Nil

117,500

10.

Nil

147,500

 

d)

Aggregated information

- Aggregated volume

 

 

 

 

 

 

 

 

 

 

 

 

 

 

- Price

Aggregate volumes

1.  450,000

2.  300,000

3.  300,000

4.  142,500

5.  132,500

6.    15,000

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

25 May 2021

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 or visit 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.
 
END
 
 
DSHEASSSALPFEEA
UK 100

Latest directors dealings