Trinity Exploration & Production Issue of Equity, Director/ PDMR Shareholding & TVR (9191V)
August 12 2020 - 4:05AM
UK Regulatory
TIDMTRIN
RNS Number : 9191V
Trinity Exploration & Production
12 August 2020
Trinity Exploration & Production plc
('Trinity' or the 'Company' or the 'Group')
Issue of Equity, Director/ PDMR Shareholding & Total Voting
Rights
Trinity Exploration & Production plc (AIM: TRIN), the
independent E&P company focused on Trinidad and Tobago,
announces the Company has issued 4,745,057 new ordinary shares in
the Company ('Ordinary Shares') to certain employees who have
exercised options that vested in respect of the one-off awards made
under the approved 2017 Long Term Incentive Plan ("LTIP") as
announced to the market on 10 July 2020. The 4,745,057 Ordinary
Shares issued fall under the block admission to trade that was
effective from 16 July 2020.
Of the Ordinary Shares to be issued, Bruce Dingwall, Executive
Chairman has exercised 3,121,080 options of which 1,745,772
Ordinary shares were sold to cover tax liabilities in respect of
the Ordinary Shares issued. Following these transactions, Mr
Dingwall is interested in 14,861,422 Ordinary shares in the Company
representing 3.82% per cent of the issued share capital (voting
rights), of the Company as per the table below.
1 Details of the person discharging managerial responsibilities/person closely associated
a) Name Bruce Dingwall
2 Reason for the notification
a) Position/status Executive Chairman
b) Initial notification /Amendment Initial
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
a) Name Trinity Exploration & Production plc
b) Legal Entity Identifier 213800WHW7571LAEDG63
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 Ordinary shares of USD 0.01 per share par value
instrument GB00B8JG4R91
Identification code
b) Nature of the transaction Exercise of Options under the LTIP and sale of Ordinary
Shares
c) Currency USD & GBP
d) Price(s) and volume(s) Date Transaction Type Amount Price
11 Aug 2020 Exercise of Options 3,121,080 USD 0.01
11 Aug 2020 Sale of Ordinary Shares 1,745,772 GBP0.088
e) Aggregated information Transaction Type Amount Price
- Aggregated volume Exercise of Options 3,121,080 USD 0.01
- Aggregated price Sale of Ordinary Shares 1,745,772 GBP0.088
- Aggregated total Residual increase in shareholding
Exercise of Options 1,375,308 USD 0.01
f) Date of the transaction 11.08.2020
g) Place of the transaction Off market (Exercise) and London Stock Exchange, AIM
(sale)
Total Voting Rights
Following the issue of the Ordinary Shares the Company will have
388,794,303 Ordinary Shares in issue with no shares held in
treasury. 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.
Enquiries:
Trinity Exploration & Production Tel: +44 (0)131 240
Bruce Dingwall CBE, Executive Chairman 3860
Jeremy Bridglalsingh, Managing Director
& Chief Financial Officer
Tracy Mackenzie, Corporate Development Manager
SPARK Advisory Partners Limited ( Nominated Tel: +44 (0)20 3368
Adviser and Financial Adviser) 3550
Mark Brady
Cenkos Securities PLC (Broker) Tel: +44 (0)20 7397
Joe Nally (Corporate Broking) 8900
Neil McDonald +44(0)131 220 6939
Walbrook PR Limited Tel: +44 (0)20 7933
Nick Rome 8780
trinityexploration@walbrookpr.com
About Trinity
Trinity is an independent oil and gas exploration and 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 2019 was 20.9 mmbbls.
Group 2C contingent resources are estimated to be 20.1 mmbbls. The
Group's overall 2P plus 2C volumes are therefore 41.1 mmbbls.
Trinity is quoted on the AIM market of the London Stock Exchange
under the ticker TRIN.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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