Result of AGM

RNS Number : 3972C

Trinity Exploration & Production

18 June 2021

 

Trinity Exploration & Production plc

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

Result of Annual General Meeting and Total Voting Rights

Trinity Exploration & Production plc (AIM: TRIN), the independent E&P company focused on Trinidad and Tobago, announces that at its Annual General Meeting held today, all resolutions were duly passed.

The proxy votes cast prior to the Annual General Meeting were as follows:

Resolutions	For	%	Against	%	Vote Total	Vote Total as % of Issued Share Capital	Withheld*
1	159,157,375	99.99	2,678	0.01	159,160,053	40.94%	8,818
2	158,928,730	99.94	89,457	0.06	159,018,187	40.90%	150,684
3	158,875,773	99.82	289,280	0.18	159,165,053	40.94%	3,818
4	159,060,322	99.93	104,731	0.07	159,165,053	40.94%	3,818
5	158,893,040	99.87	211,617	0.13	159,104,657	40.92%	64,214
6	158,916,342	99.85	243,711	0.15	159,160,053	40.94%	8,818
7	158,937,417	99.94	91,239	0.06	159,028,656	40.90%	140,215
8	158,782,824	99.76	377,229	0.24	159,160,053	40.94%	8,818
9	158,603,288	99.73	423,609	0.27	159,026,897	40.90%	141,974
10	158,943,199	99.86	220,095	0.14	159,163,294	40.94%	5,577

* A vote withheld is not a vote in law and is not counted in the calculation of the proportion of votes "For" or "Against" a resolution.

Proposed Capital Reorganisation

Defined terms used in this announcement have the meanings given to them in the circular issued to shareholders of the Company on 26 May 2021 unless the context otherwise requires.

Further to the approval of Resolution 6 at the Annual General Meeting, the Company is proceeding with the Consolidation and Sub-Division with a record date of 6.00 p.m. on 18 June 2021.

Application has been made for the simultaneous cancellation of the Existing Ordinary Shares from CREST and admission of the New Ordinary Shares to CREST and admission to trading on AIM.  It is expected that the New Ordinary Shares will be admitted to trading on AIM at 8.00 a.m. on 21 June 2021.

Immediately following the Consolidation and the Sub-Division, but prior to the Capital Reduction, the Company will have 38,879,431 Ordinary Shares in issue, with no Ordinary Shares in treasury. Therefore, following the Consolidation and Sub-Division, 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.

The ISIN code for the New Ordinary Shares is GB00BN7CJ686 and the SEDOL number is BN7CJ68, which will come into effect at 8.00 a.m. on 21 June 2021.

In addition, further to approval of Resolution 7 at the Annual General Meeting, the Company will apply to the Court for confirmation of the cancellation of the Capital Reduction Shares and the cancellation of the Share Premium Account.  Further announcements in respect of the Capital Reduction will be made at the appropriate time.

Enquiries:

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

About Trinity

Trinity is an independent 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 2020 was 19.55 mmbbls. Group 2C contingent resources are estimated to be 23.25 mmbbls. The Group's overall 2P plus 2C volumes are therefore 42.80 mmbbls.

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

 

END

 

 

RAGDKFBDKBKDPAD