Source - RNS
RNS Number : 0292K
Touchstone Exploration Inc.
06 April 2018
 

GRANT OF SHARE OPTIONS

 

Calgary, Alberta - April 6, 2018 - Touchstone Exploration Inc. ("Touchstone" or the "Company") (TSX / LSE: TXP) announces the grant of 1,018,800 share options on April 5, 2018 to its executive officers and key employees in accordance with the Company's stock option plan. The grant was awarded to the following recipients:

 

Recipient

Number of share options granted



Paul R. Baay, President and Chief Executive Officer

300,000

Scott Budau, Chief Financial Officer

200,000

James Shipka, Chief Operating Officer

200,000

Employees

318,800



Total

1,018,800

 

The share options were issued with an exercise price of C$0.22 per common share, which was measured by reference to the five-day weighted average trading price of the Company's common shares on the Toronto Stock Exchange to the close of trading on April 4, 2018. The share options have a five-year term and vest one third on each of the next three anniversaries of the grant date.

 

Following this grant, the Company has a total of 7,879,640 share options and incentive share options outstanding, representing approximately 6.1% of the Company's outstanding common shares.

 

The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail on the above transactions.

 

For further information, please contact:

 

Touchstone Exploration Inc.

Mr. Paul Baay, President and Chief Executive Officer                                Tel: +1 (403) 750-4487

Mr. Scott Budau, Chief Financial Officer

www.touchstoneexploration.com

 

Shore Capital (Nominated Advisor and Joint Broker)

Nominated Adviser: Edward Mansfield / Mark Percy                                  Tel: +44 (0) 20 7408 4090

Corporate Broking: Jerry Keen

 

GMP FirstEnergy (Joint Broker)

Jonathan Wright / Hugh Sanderson                                                          Tel: +44 (0) 207448 0200

 

Camarco (Financial PR)

Nick Hennis / Jane Glover / Billy Clegg                                                    Tel: +44 (0) 203 757 4980

 

About Touchstone

 

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".

 



 

Notification of transactions of persons discharging managerial responsibilities and persons closely associated with them

 

1.

Details of the person discharging managerial responsibilities / person closely associated

a)

 

Name

 

1.   Paul R. Baay

2.   Scott Budau

3.   James Shipka 

2.

Reason for the notification

a)

Position/status

 

1.   Chief Executive Officer

2.   Chief Financial Officer

3.   Chief Operating Officer

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

Options over common shares of no par value in the capital of Touchstone Exploration Inc., each with an exercise price of C$0.22 and an expiry date of 4 April 2023.

 

CA89156L1085

b)

Nature of the transactions

Grant of share options to executive directors/officers

c)

 

Price(s) and volume(s)

 


Effective price

Volume(s)

1.

Nil

300,000

2.

Nil

200,000

3.

Nil

200,000

  

d)

Aggregated information

- Aggregated volume

 

 

 

- Price

Aggregate volumes

1.   300,000

2.   200,000

3.   200,000

 

Aggregate prices

1.   Nil

2.   Nil

3.   Nil

e)

Date of the transaction

5 April 2018

f)

Place of the transaction

Outside a trading venue

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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