Exercise Of Stock Options
No summary for this filing – the full text is below.
Select text to share a quote on X · sign in to keep highlights & notes in your TXP notes
CALGARY, ALBERTA (May 23, 2024) - Touchstone Exploration Inc. ("Touchstone" or the "Company") (TSX, LSE: TXP) announces that a non-executive director and certain employees gave notice to exercise stock options representing an aggregate 173,335 common shares of no par value in the Company ("Common Shares") on May 17, 2024 and May 21, 2024.
As part of this exercise, Mr. Stanley Smith, non-executive director, exercised stock options representing 45,835 Common Shares with an exercise price of C$0.48 (approximately 27.7 pence) per stock option. The stock options were issued on April 6, 2020 in accordance with the Company's shareholder approved stock option plan and were set to expire on April 5, 2025. The associated Common Shares were issued on May 23, 2024.
Application has been made for the 173,335 new Common Shares, which will rank pari passu with the Company's existing issued share capital, to be admitted to trading on AIM, which is expected to take place on May 30, 2024 ("Admission"). Immediately following Admission, the Company's issued share capital will consist of 234,386,061 Common Shares. The Company does not hold any Common Shares in treasury. This figure may be used by shareholders to determine if they are required to notify their interest in, or a change to their interest in, the Company.
Touchstone Exploration Inc.
Touchstone Exploration Inc.
Paul Baay, President and Chief Executive Officer Tel: +1 (403) 750-4487
Scott Budau, Chief Financial Officer
Shore Capital (Nominated Advisor and Joint Broker)
Daniel Bush / Toby Gibbs / Tom Knibbs Tel: +44 (0) 207 408 4090
Canaccord Genuity (Joint Broker)
Adam James / Ana Ercegovic Tel: +44 (0) 207 523 8000
FTI Consulting (Financial PR)
Nick Hennis / Ben Brewerton Tel: +44 (0) 203 727 1000
Advisory
For reference purposes in this announcement, one British pound has been translated from Canadian dollars at a rate of 1.735 to 1.00.
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Stanley T. Smith |
| 2 | Reason for the notification | |
| a) | Position/status | Non-executive Director |
| b) | Initial notification /Amendment | Initial notification |
| a) | Name | Touchstone Exploration Inc. |
| b) | LEI | 2138008URBSUC1J24J73 |
| a) | Description of the financial instrument, type of instrument Identification code | Common Shares of Touchstone Exploration Inc. CA89156L1085 |
| b) | Nature of the transaction | Exercise of 45,835 stock options |
| c) | Prices and volumes | Effective Price Volume C$0.48 (c27.7p) 45,835 |
| d) | Aggregated information - Aggregated volume - Price | Aggregated volume: 45,835 stock options exercised Aggregated price: C$0.48 (c27.7p) each Aggregate total C$22,000.80 (c£12,696.30) |
| e) | Date of the transaction | May 23, 2024 |
| f) | Place of the transaction | Off market transaction |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.