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RNS Number : 4929J
Touchstone Exploration Inc.
22 December 2020
APPOINTMENT OF INDEPENDENT DIRECTOR AND GRANT OF SHARE
OPTIONS
Calgary, Alberta - December 22, 2020 - Touchstone Exploration
Inc. ("Touchstone" or the "Company") (TSX / LSE: TXP) is pleased to
announce the appointment of Ms. Beverley Smith to Touchstone's
Board of Directors (the "Board") as of December 22, 2020. Ms. Smith
will also serve on the Board's Compensation and Governance
Committee and on the Health, Safety, Environment and Reserves
Committee.
Ms. Smith is a chartered geologist and an accomplished business
leader with over thirty years of experience in the oil and gas
sector, having delivered a portfolio of achievements in a
successful international career with BG Group, as Vice President
Exploration and Growth for Europe and most recently as Interim
Chief Executive Officer of Hurricane Energy plc. Ms. Smith has a
background in development and production geology and subsurface
management, notably in Trinidad (Hibiscus, Poinsettia and Ixora
fields), Tunisia (Hasdrubal field) and various operated
developments in the United Kingdom including Mercury, Neptune,
Minerva, Apollo, Fleming, Drake and Jackdaw fields as well as other
non-operated developments. Ms. Smith brings further corporate
governance expertise to the Board with a proven track record of
improving risk management capabilities, safety frameworks, and
ensuring accountability and transparency. Ms. Smith is an
independent non-executive director at Hurricane Energy plc and the
President of The Petroleum Exploration Society of Great Britain.
Ms. Smith holds a Bachelor of Science degree in geology and a
Master of Science degree in petroleum geology.
John D. Wright, Chairman of the Board, commented, "We are
delighted that Beverley has joined the Board. Her expertise in
international oil and gas, specifically her background in Trinidad,
will be instrumental as we continue to explore and develop the
Ortoire block."
Regulatory disclosures (in accordance with Rule 17 and Schedule
Two paragraph (g) of the AIM Rules for Companies)
The following directorships and partnerships are currently held
by Ms. Smith or have been held in the past five years:
Current Directorships
Bas Advisory Limited
Hurricane Energy plc
The Kimmeridge Trust
The Petroleum Exploration Society of Great Britain
Petroleum Geology Conferences Limited
Previous Directorships
Hurricane (Strathmore) Limited
Hurricane (Whirlwind) Limited
Hurricane Basement Limited
Hurricane Gla Limited
Hurricane Group Limited
Hurricane Gwa Limited
Hurricane Holdings Limited
Hurricane Petroleum Limited
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Aside from the information set out above, there are no further
disclosures to be made in accordance with Rule 17 and Schedule Two
paragraph (g) of the AIM Rules for Companies in respect of the
appointment of Beverley Ann Smith, aged 55. Ms. Smith does not
currently hold an interest in the Company's share capital.
The Company granted Ms. Smith 115,000 share options on December
22, 2020 in accordance with the Company's shareholder approved
stock option plan. The share options were issued with an exercise
price of C$2.07 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 December 21, 2020. The share options have a five-year term and
vest one third on each of the next three anniversaries of the grant
date.
The notification below, made in accordance with the requirements
of the EU Market Abuse Regulation, provides further detail
regarding the share option award.
Touchstone Exploration Inc.
Touchstone Exploration Inc. is a Calgary, Alberta 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: +1
(403) 750-4487
Mr. Scott Budau, Chief Financial Officer
Shore Capital (Nominated Advisor and Joint Broker)
Nominated Advisor: Edward Mansfield / Daniel Bush / Michael McGloin Tel: +44 (0) 207 408 4090
Corporate Broking: Jerry Keen
Canaccord Genuity (Joint Broker)
Adam James / Henry Fitzgerald O'Connor / Thomas Diehl Tel: +44
(0) 207 523 8000
Camarco (Financial PR)
Nick Hennis / Billy Clegg Tel: +44 (0) 203 781 8330
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 Beverley Smith
--------------------------- ------------------------------------------------
2. Reason for the notification
-----------------------------------------------------------------------------
a) Position/status Non-Executive Director
--------------------------- ------------------------------------------------
b) Initial notification Initial notification
/Amendment
--------------------------- ------------------------------------------------
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 Options over common shares of no par
financial instrument, value in the capital of Touchstone Exploration
type of instrument Inc., each with an exercise price of
C$2.07 and an expiry date of 21 December
2025.
Identification code
CA89156L1085
--------------------------- ------------------------------------------------
b) Nature of the transactions Grant of share options to Non-Executive
Director
--------------------------- ------------------------------------------------
c) Prices and volumes Effective price Volume
Nil 115,000
--------
--------------------------- ------------------------------------------------
d) Aggregated information Aggregate volumes
- Aggregated volume 115,000
- Price Aggregate prices
Nil
--------------------------- ------------------------------------------------
e) Date of the transaction 22 December 2020
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f) Place of the transaction Outside a trading venue
--------------------------- ------------------------------------------------
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END
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