EXERCISE OF SHARE OPTIONS & SALE OF COMMON SHARES

RNS Number : 7651Q

Touchstone Exploration Inc.

23 June 2020

 

EXERCISE OF SHARE OPTIONS AND SALE OF COMMON SHARES

CALGARY, ALBERTA (June 23, 2020) - Touchstone Exploration Inc. ("Touchstone" or the "Company") announces that on June 17, 2020, certain employees and directors exercised share options representing a total of 308,100 common shares of no par value in the Company ( " Common Shares " ).

As part of this exercise, Non-Executive Director Kenneth McKinnon exercised share options representing 190,000 Common Shares at a weighted average price of C$0.28 (approximately 16.6 pence) per Common Share. Further, Non-Executive Director John Wright exercised share options representing 112,500 Common Shares at a price of C$0.33 (approximately 19.5 pence) per Common Share. On June 22, 2020, Mr. Wright sold 56,300 Common Shares at a weighted average price of C$0.89 (approximately 52.7 pence) per Common Share on the Toronto Stock Exchange.

Application has been made for the 308,100 new Common Shares, which will rank pari passu with the Company's existing issued share capital, to be admitted to trading on AIM ("Admission"), which is expected on June 26, 2020. Immediately following Admission, the Company's issued share capital will consist of 184,081,095 Common Shares. The Company does not hold any Common Shares in treasury. This figure may be used by shareholders to determine if they are required to notify their interest in, or a change to their interest in, the Company.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them in accordance with the Market Abuse Regulations.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Kenneth McKinnon
2	Reason for the notification
a)	Position/status	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	Common Shares of no par value CA89156L1085
b)	Nature of the transaction	Exercise of 190,000 share options
c)	Prices and volumes	Prices Volumes 1 19.5p each 95,000 2 13.6p each 95,000
d)	Aggregated information - Aggregated volume - Price	1.  Aggregated volume: 95,000 share options exercised Aggregated price: 19.5p each Aggregated total: £18,525 2.  Aggregated volume: 95,000 share options exercised Aggregated price: 13.6p each Aggregated total: £12,920
e)	Date of the transaction	1.  17 June 2020 2.  17 June 2020
f)	Place of the transaction	1.  Off market transaction 2.  Off market transaction
1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	John Wright
2	Reason for the notification
a)	Position/status	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	Common Shares of no par value CA89156L1085
b)	Nature of the transaction	1.  Exercise of 112,500 share options 2.  Sale of 56,300 common shares
c)	Prices and volumes	Prices Volumes 1 19.5p each 112,500 2 52.7p each 56,300
d)	Aggregated information - Aggregated volume - Price	1.  Aggregated volume: 112,500 share options exercised Aggregated price: 19.5p each Aggregated total: £21,938 2.  Aggregated volume: 56,300 common shares Aggregated price: 52.7p each Aggregated total: £29,670
e)	Date of the transaction	1.  17 June 2020 2.  22 June 2020
f)	Place of the transaction	1.  Off market transaction 2.  Toronto Stock Exchange

Touchstone Exploration Inc.

Touchstone Exploration Inc. is a Calgary 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: [phone]

Mr. Scott Budau, Chief Financial Officer

Shore Capital (Nominated Adviser and Join Broker)

Nominated Advisor: Edward Mansfield / Daniel Bush / Michael McGloin  Tel: [phone]

Corporate Broking: Jerry Keen

Canaccord Genuity (Joint Broker)

Adam James / Thomas Diehl  Tel: [phone]

Camarco (Financial PR)

Nick Hennis / Billy Clegg      Tel: [phone]

Advisories

For reference purposes in this announcement, one British pound has been translated from Canadian dollars at a rate of 1.00 to 1.69.

 

END

 

 

DSHPPUQGQUPUUPW