Touchstone Exploration Inc. GRANT OF SHARE OPTIONS (5672X)
August 30 2022 - 02:56AM
UK Regulatory
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RNS Number : 5672X
Touchstone Exploration Inc.
30 August 2022
GRANT OF SHARE OPTIONS
CALGARY, ALBERTA (August 30, 2022) - Touchstone Exploration Inc.
("Touchstone" or the "Company") announces the grant of share
options on August 26, 2022 to Non-executive Directors Jenny
Alfandary and Dr. Priya Marajh in accordance with the Company's
shareholder approved stock option plan. Ms. Alfandary was awarded
120,000 share options and Dr. Marajh was awarded 115,000 share
options in connection with their appointment to Touchstone's Board
of Directors on July 11, 2022.
Each share option allows the holder to purchase one Company
common share at an exercise price of C$1.55 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 August 25, 2022. 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 11,939,100
share options outstanding, representing approximately 5.6 percent
of the Company's outstanding common shares.
The notification below, made in accordance with the requirements
of the UK Market Abuse Regulation, provides further detail on the
above transactions.
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them in accordance with the Market Abuse
Regulations.
Details of the person discharging managerial responsibilities
1. / person closely associated
a) Name 1. Jenny Alfandary
2. Priya Marajh
--------------------------- ------------------------------------------------
Reason for the notification
2.
-----------------------------------------------------------------------------
a) Position/status 1. Non-Executive Director
2. Non-Executive Director
--------------------------- ------------------------------------------------
b) Initial notification Initial notification
/Amendment
--------------------------- ------------------------------------------------
Details of the issuer, emission allowance market participant,
3. auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------------
a) Name Touchstone Exploration Inc.
--------------------------- ------------------------------------------------
b) LEI 2138008URBSUC1J24J73
--------------------------- ------------------------------------------------
Details of the transaction(s): section to be repeated for
4. (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$1.55 and an expiry date of 26 August
2027.
Identification code
CA89156L1085
--------------------------- ------------------------------------------------
b) Nature of the transactions Grant of share options to executive
directors/officers
--------------------------- ------------------------------------------------
c) Prices and volumes Effective price Volumes
1. Nil 120,000
---------------- --------
2. Nil 115,000
---------------- --------
--------------------------- ------------------------------------------------
d) Aggregated information Aggregate volumes
- Aggregated volume 1. 120,000
2. 115,000
Aggregate prices
1. Nil
2. Nil
- Price
--------------------------- ------------------------------------------------
e) Date of the transaction 1. 26 August 2022
2. 26 August 2022
--------------------------- ------------------------------------------------
f) Place of the transaction 1. Outside a trading venue
2. Outside a trading venue
--------------------------- ------------------------------------------------
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)
Daniel Bush / Toby Gibbs /Iain Sexton Tel: +44 (0) 207 408
4090
Canaccord Genuity (Joint Broker)
Adam James / Gordon Hamilton Tel: +44 (0) 207 523 8000
Camarco (Financial PR)
Billy Clegg / Emily Hall / Lily Pettifar Tel: +44 (0) 203 781
8330
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