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Touchstone Explrtn. (TXP)

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Monday 11 April, 2022

Touchstone Explrtn.

GRANT OF ANNUAL SHARE OPTIONS

RNS Number : 8758H
Touchstone Exploration Inc.
11 April 2022
 

GRANT OF ANNUAL SHARE OPTIONS

 

CALGARY, ALBERTA (April 11, 2022) - Touchstone Exploration Inc. ("Touchstone" or the "Company") announces the grant of 2,946,000 share options on April 8, 2022 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

130,000

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

946,000

Total

2,946,000

 

Each share option allows the holder to purchase one Company common share at an exercise price of C$1.43 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 April 7, 2022. 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 12,373,934 share options outstanding, representing approximately 5.9 percent of the Company's outstanding common shares.

 

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

Daniel Bush / Toby Gibbs / Michael McGloin    Tel: +44 (0) 207 408 4090

 

Canaccord Genuity (Joint Broker) 

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

 

Camarco (Financial PR)

Billy Clegg / Emily Hall / Lily Pettifar    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 Regulation.

 

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$1.43 and an expiry date of 8 April 2027.

 

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

130,000

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.  130,000

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

8 April 2022

f)

Place of the transaction

Outside a trading venue

 

 

 

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