Notification of Transaction by Director / PDMR

RNS Number : 7164Z

Touchstone Exploration Inc.

19 December 2017

 

19 December 2017

Touchstone Exploration Inc.

 

("Touchstone" or the "Company")

Notification of Transaction by Director / PDMR

Exercise of Incentive Share Options & Sale of Common Shares

Touchstone Exploration Inc. (TSX / LSE: TXP), an oil and gas exploration and production company active in the Republic of Trinidad and Tobago, announces that on 18 December 2017, Paul R. Baay, President and Chief Executive Officer, exercised incentive share options over 100,000 common shares in the Company at a price of C$0.05 per share (approximately 2.9 pence per share). These incentive share options were granted in accordance with the Company's incentive share option plan. Mr. Baay subsequently sold 100,000 common shares at a price of C$0.20 per share (approximately 11.7 pence per share).

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	Paul R. Baay
2	Reason for the notification
a)	Position/status	President and Chief Executive Officer
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 no par value CA89156L1085
b)	Nature of the transaction	Exercise of 100,000 incentive share options and sale of 100,000 common shares
c)	Prices and volumes	Prices Volumes 2.9p each 100,000 incentive share options 11.7p each 100,000 common shares
d)	Aggregated information - Aggregated volume - Price	100,000 incentive share options exercised 100,000 common shares sold Purchase: 2.9p each Sale: 11.7p each
e)	Date of the transaction	18 December 2017
f)	Place of the transaction	Toronto Stock Exchange

For further information, please contact:

Touchstone Exploration Inc.

Mr. Paul Baay, President and Chief Executive Officer                                Tel: [phone]

Mr. Scott Budau, Chief Financial Officer

Shore Capital (Nominated Advisor and Joint Broker)

Nominated Adviser: Edward Mansfield / Mark Percy                                  Tel: [phone] Corporate Broking: Jerry Keen

GMP FirstEnergy (Joint Broker)

Jonathan Wright / Hugh Sanderson                                                          Tel: [phone]

Camarco (Financial PR)

Nick Hennis / Billy Clegg / Jane Glover                                                    Tel: [phone]

About Touchstone

Touchstone Exploration Inc. is a Calgary 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".

Advisories

For reference purposes in this announcement, one British pound has been translated from Canadian dollars at a rate of 1.00 to 1.72.

 

END

 

 

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