Transaction in Own Shares & Completion of Buyback

Trinity Exploration & Production

27 June 2023

 

This announcement contains inside information as stipulated under the UK version of the Market Abuse Regulation No 596/2014 which is part of English Law by virtue of the European (Withdrawal) Act 2018, as amended.  On publication of this announcement via a Regulatory Information Service, this information is considered to be in the public domain.

27 June 2023

Trinity Exploration & Production plc

("Trinity" or "the Group" or "the Company")

Transaction in Own Shares and Completion of Buyback Programme

Trinity Exploration & Production plc (AIM: TRIN), the independent E&P company focused on Trinidad and Tobago, announces that today it purchased 6,000 of its ordinary shares of USD 0.01 each ("Ordinary Shares"), at an average price of 85 pence per Ordinary Share, pursuant to instructions issued by Trinity as part of its share buyback programme, as announced on 28 April 2023.

Aggregated information on Ordinary Shares purchased according to trading value

Date of purchase	Number of Ordinary Shares purchased	Highest price paid (GBp)	Lowest price paid (GBp)	Volume weighted average price paid per share (GBp)	Venue
27 June 2023	6,000	85	85	85	AIM

To date, Trinity has purchased 117,000 Ordinary Shares in aggregate in connection with this share buyback programme.  Trinity intends to hold the purchased Ordinary Shares in treasury.

Transaction details

In accordance with Article 5(1)(b) of the Market Abuse Regulation (EU) No 596/2014, as it forms part of Retained EU Law as defined in the European Union (Withdrawal) Act 2018, a full breakdown of the individual purchases of Ordinary Shares made by Cenkos, on behalf of the Company as part of the share buy-back programme, is detailed below.

Number of Ordinary Shares purchased	Transaction price (GBp)	Time of Transaction	Trading Venue
6,000	85	08:11	AIM

Completion of Buyback Programme

The buyback programme was conducted within the limitations of the authority granted by shareholders to the Board of Trinity at the Company's last annual general meeting ("AGM") held on 29 June 2022 and this authority expired at the conclusion of the 2023 AGM held today.  Consequently, this buyback programme has been concluded.

Company shareholding in treasury and Total Voting Rights

Following the above transaction, Trinity holds 1,549,000 of its Ordinary Shares in treasury and has 39,884,637 Ordinary Shares in issue (including treasury shares).  Therefore, the total voting rights in the Company is 38,335,637.  

This above figure of 38,335,637 is the total number of voting rights and may be used by shareholders (and others with notification obligations) as the denominator for the calculation by which they determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

Enquiries:

Trinity Exploration & Production plc Jeremy Bridglalsingh, Chief Executive Officer Julian Kennedy, Chief Financial Officer Nick Clayton, Non- Executive Chairman	Via Vigo Consulting
SPARK Advisory Partners Limited (Nominated Adviser and Financial Adviser) Mark Brady James Keeshan	[phone]
Cenkos Securities PLC (Broker) Leif Powis Neil McDonald	[phone] [phone]
Vigo Consulting Limited Finlay Thomson / Patrick d'Ancona	[e-mail] [phone]

About Trinity (www.trinityexploration.com)

Trinity is an independent oil 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 ten licences and, across all of the Group's assets, management's estimate of the Group's 2P reserves as at the end of 2022 was 17.96 mmbbls.  Group 2C contingent resources are estimated to be 48.88 mmbbls.  The Group's overall 2P plus 2C volumes are therefore 66.84 mmbbls.

Trinity is quoted on AIM, a market operated and regulated by the London Stock Exchange Plc, under the ticker TRIN.

 

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