Form 8 (OPD) - Touchstone Exploration

Touchstone Exploration Inc.

15 May 2024

 

FORM 8 (OPD)

PUBLIC OPENING POSITION DISCLOSURE BY A PARTY TO AN OFFER

Rules 8.1 and 8.2 of the Takeover Code (the "Code")

1.         KEY INFORMATION

(a) Full name of discloser:	TOUCHSTONE EXPLORATION INC.
(b) Owner or controller of interests and short positions disclosed, if different from 1(a):      The naming of nominee or vehicle companies is insufficient.  For a trust, the trustee(s), settlor and beneficiaries must be named.	N/A
(c) Name of offeror/offeree in relation to whose relevant securities this form relates:      Use a separate form for each offeror/offeree	TOUCHSTONE EXPLORATION INC.
(d) Is the discloser the offeror or the offeree?	OFFEROR
(e) Date position held:      The latest practicable date prior to the disclosure	15 May 2024
(f)  In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?      If it is a cash offer or possible cash offer, state "N/A"	N/A

2.         POSITIONS OF THE PARTY TO THE OFFER MAKING THE DISCLOSURE

If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.

(a)        Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates

Class of relevant security:	Common shares of no par value
	Interests		Short positions
	Number	%	Number	%
(1) Relevant securities owned and/or controlled:	NIL	-	NIL	-
(2) Cash-settled derivatives:	NIL	-	NIL	-
(3) Stock-settled derivatives (including options) and agreements to purchase/sell:	NIL	-	NIL	-
TOTAL:	NIL	-	NIL	-

All interests and all short positions should be disclosed.

Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

Details of any securities borrowing and lending positions or financial collateral arrangements should be disclosed on a Supplemental Form 8 (SBL).

(b)        Rights to subscribe for new securities

Class of relevant security in relation to which subscription right exists:	N/A
Details, including nature of the rights concerned and relevant percentages:	N/A

3.         POSITIONS OF PERSONS ACTING IN CONCERT WITH THE PARTY TO THE OFFER MAKING THE DISCLOSURE

Details of any interests, short positions and rights to subscribe (including directors' and other employee options) of any person acting in concert with the party to the offer making the disclosure:

(a)   Interests in Touchstone Exploration Inc. (Touchstone) common shares held by Touchstone directors (together with their close relatives and related trusts of any of them): Name Total number of Touchstone common shares Percentage of existing issued share capital of Touchstone* Paul R. Baay 2,251,786 0.96% John D. Wright 4,773,177 2.03% Jenny Alfandary 18,868 0.00% Kenneth R. McKinnon 787,119 0.33% Peter Nicol 520,532 0.22% Beverley Smith 61,526 0.02% Stanley T. Smith 689,698 0.29% Dr. Harrie Vredenburg 488,765** 0.20% * Percentages are calculated on the basis of 234,212,726 common shares in issue as at the latest practicable date prior to this disclosure. ** Included in this holding is 60 common shares held on trust by Andrew Grasby and 120 common shares held on trust by Hibberdene Inc. Share Options Name Share Plan Grant date Number of Touchstone common shares under option Exercise price per Touchstone common share (C$) Date fully vested*** Paul Baay Share Option Plan 5 April 2019 450,000 0.23 5 April 2022 Paul Baay Share Option Plan 6 April 2020 450,000 0.48 6 April 2023 Paul Baay Share Option Plan 25 May 2021 450,000 1.73 25 May 2024 Paul Baay Share Option Plan 8 April 2022 450,000 1.43 8 April 2025 Paul Baay Omnibus Option Plan 18 September 2023 500,000 1.15 18 September 2026 John Wright Share Option Plan 25 May 2021 147,500 1.73 25 May 2024 John Wright Share Option Plan 8 April 2022 147,500 1.43 8 April 2025 John Wright Omnibus Option Plan 18 September 2023 150,000 1.15 18 September 2026 Jenny Alfandary Share Option Plan 26 August 2022 120,000 1.55 26 August 2025 Jenny Alfandary Omnibus Option Plan 18 September 2023 120,000 1.15 18 September 2026 Priya Marajh Share Option Plan 26 August 2022 115,000         1.55 26 August 2025 Priya Marajh Omnibus Option Plan 18 September 2023 115,000 1.15 18 September 2026 Kenneth McKinnon Share Option Plan 5 April 2019 132,500 0.23 30 September 2022 Kenneth McKinnon Share Option Plan 6 April 2020 142,500 0.48 6 April 2023 Kenneth McKinnon Share Option Plan 25 May 2021 142,500 1.73 25 May 2024 Kenneth McKinnon Share Option Plan 8 April 2022 142,500 1.43 8 April 2025 Kenneth McKinnon Omnibus Option Plan 18 September 2023 142,500 1.15 18 September 2026 Peter Nicol Share Option Plan 6 April 2020 132,500 0.48 6 April 2023 Peter Nicol Share Option Plan 25 May 2021 132,500 1.73 25 May 2024 Peter Nicol Share Option Plan 8 April 2022 132,500 1.43 8 April 2025 Peter Nicol Omnibus Option Plan 18 September 2023 132,500 1.15 18 September 2026 Beverley Smith Share Option Plan 22 December 2020 115,000 2.07 22 December 2023 Beverley Smith Share Option Plan 25 May 2021 15,000 1.73 25 May 2024 Beverley Smith Share Option Plan 8 April 2022 130,000 1.43 8 April 2025 Beverley Smith Omnibus Option Plan 18 September 2023 127,500 1.15 18 September 2026 Stanley Smith Share Option Plan 6 April 2020 45,835 0.48 6 April 2023 Stanley Smith Share Option Plan 25 May 2021 137,500 1.73 25 May 2024 Stanley Smith Share Option Plan 8 April 2022 137,500 1.43 8 April 2025 Stanley Smith Omnibus Option Plan 18 September 2023 137,500 1.15 18 September 2026 Harrie Vredenburg Share Option Plan 5 April 2019 115,000 0.23 5 April 2022 Harrie Vredenburg Share Option Plan 6 April 2020 115,000 0.48 6 April 2023 Harrie Vredenburg Share Option Plan 25 May 2021 117,500 1.73 25 May 2024 Harrie Vredenburg Share Option Plan 8 April 2022 117,500 1.43 8 April 2025 Harrie Vredenburg Omnibus Option Plan 18 September 2023 115,000 1.15 18 September 2026 *** Options will become vested in tranches on the first and second anniversary of the grant date before becoming fully vested on the third anniversary of the grant date.

Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

Details of any securities borrowing and lending positions or financial collateral arrangements should be disclosed on a Supplemental Form 8 (SBL).

4.         OTHER INFORMATION

(a)        Indemnity and other dealing arrangements

Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the party to the offer making the disclosure or any person acting in concert with it: Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state "none"

None

(b)        Agreements, arrangements or understandings relating to options or derivatives

Details of any agreement, arrangement or understanding, formal or informal, between the party to the offer making the disclosure, or any person acting in concert with it, and any other person relating to: (i)  the voting rights of any relevant securities under any option; or (ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced: If there are no such agreements, arrangements or understandings, state "none"

None

(c)        Attachments

Are any Supplemental Forms attached?

Supplemental Form 8 (Open Positions)	NO
Supplemental Form 8 (SBL)	NO

Date of disclosure:	15 May 2024
Contact name:	Paul Baay
Telephone number:	[phone]

Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.

The Panel's Market Surveillance Unit is available for consultation in relation to the Code's disclosure requirements on [phone].

The Code can be viewed on the Panel's website at www.thetakeoverpanel.org.uk.

 

END