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:

+1 403 750 4487

 

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 +44 (0)20 7638 0129.

 

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

 

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