Issue of Equity, Director/ PDMR Shareholding & TVR

RNS Number : 9191V

Trinity Exploration & Production

12 August 2020

 

Trinity Exploration & Production plc

('Trinity' or the 'Company' or the 'Group')

Issue of Equity, Director/ PDMR Shareholding & Total Voting Rights

Trinity Exploration & Production plc (AIM: TRIN), the independent E&P company focused on Trinidad and Tobago, announces the Company has issued 4,745,057 new ordinary shares in the Company ('Ordinary Shares') to certain employees who have exercised options that vested in respect of the one-off awards made under the approved 2017 Long Term Incentive Plan ("LTIP") as announced to the market on 10 July 2020. The 4,745,057 Ordinary Shares issued fall under the block admission to trade that was effective from 16 July 2020.

Of the Ordinary Shares to be issued, Bruce Dingwall, Executive Chairman has exercised 3,121,080 options of which 1,745,772 Ordinary shares were sold to cover tax liabilities in respect of the Ordinary Shares issued.  Following these transactions, Mr Dingwall is interested in 14,861,422 Ordinary shares in the Company representing 3.82% per cent of the issued share capital (voting rights), of the Company as per the table below.

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Bruce Dingwall
2	Reason for the notification
a)	Position/status	Executive Chairman
b)	Initial notification /Amendment	Initial
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Trinity Exploration & Production plc
b)	Legal Entity Identifier	213800WHW7571LAEDG63
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	Ordinary shares of USD 0.01 per share par value GB00B8JG4R91
b)	Nature of the transaction	Exercise of Options under the LTIP and sale of Ordinary Shares
c)	Currency	USD & GBP
d)	Price(s) and volume(s)	Date Transaction Type Amount Price 11 Aug 2020 Exercise of Options 3,121,080 USD 0.01 11 Aug 2020 Sale of Ordinary Shares 1,745,772 £0.088
e)	Aggregated information - Aggregated volume - Aggregated price - Aggregated total	Transaction Type Amount Price Exercise of Options 3,121,080 USD 0.01 Sale of Ordinary Shares 1,745,772 £0.088   Residual increase in shareholding   Exercise of Options  1,375,308   USD 0.01
f)	Date of the transaction	11.08.2020
g)	Place of the transaction	Off market (Exercise) and London Stock Exchange, AIM (sale)

Total Voting Rights

Following the issue of the Ordinary Shares the Company will have 388,794,303 Ordinary Shares in issue with no shares held in treasury. This is the total number of voting rights in the Company and may be used by shareholders as the denominator for calculations by which they determine if they are required to notify their interest in, or change to their interest in, the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules. 

Enquiries:

Trinity Exploration & Production Bruce Dingwall CBE, Executive Chairman Jeremy Bridglalsingh, Managing Director & Chief Financial Officer Tracy Mackenzie, Corporate Development Manager	Tel: [phone]
SPARK Advisory Partners Limited ( Nominated Adviser and Financial Adviser) Mark Brady	Tel: [phone]
Cenkos Securities PLC (Broker) Joe Nally (Corporate Broking) Neil McDonald	Tel: [phone]   [phone]
Walbrook PR Limited Nick Rome	Tel: [phone] [e-mail]

About Trinity

Trinity is an independent oil and gas exploration and production company focused solely on   Trinidad and Tobago.  Trinity operates producing and development assets both onshore and offshore, in the shallow water West and East Coasts of   Trinidad. Trinity's portfolio includes current production, significant near-term production growth opportunities from low risk developments and multiple exploration prospects with the potential to deliver meaningful reserves/resources growth.  The Company operates all of its nine licences and, across all of the Group's assets, management's estimate of 2P reserves as at the end of 2019 was 20.9 mmbbls. Group 2C contingent resources are estimated to be 20.1 mmbbls. The Group's overall 2P plus 2C volumes are therefore 41.1 mmbbls.

Trinity is quoted on the AIM market of the London Stock Exchange under the ticker TRIN.

 

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