Touchstone Exploration Inc. Merging of Stock Lines (1313K)
05 Juli 2017 - 8:00AM
UK Regulatory
TIDMTXP TIDMTXPR
RNS Number : 1313K
Touchstone Exploration Inc.
05 July 2017
5 July 2017
Touchstone Exploration Inc.
("Touchstone" or the "Company")
Merging of Stock Lines
On 26 June 2017, Touchstone Exploration Inc. (TSX / LSE: TXP),
an oil and gas exploration and production company active in the
Republic of Trinidad and Tobago, was admitted to trading on the AIM
market of the London Stock Exchange ("Admission") and pursuant to a
private placement, issued 20,000,000 new Common Shares ("Placing
Shares"). Upon Admission, the following Common Shares were admitted
to trading on AIM:
-- 83,137,143 existing Common Shares, under the ticker TXP
(ISIN: CA89156L1085, SEDOL: BD8ZCD4); and
-- 20,000,000 Placing Shares, under the ticker TXPR (ISIN: CA89156L2075, SEDOL: BD8ZCF6).
With effect from commencement of trading at 8.00 a.m. on 11 July
2017, the Placing Shares will merge with the existing Common Shares
and will trade under the Company's existing ticker TXP under the
ISIN: CA89156L1085 and SEDOL: BD8ZCD4. ISIN: CA89156L2075 shall be
removed from trading at close of business on 10 July 2017.
The Placing Shares issued rank pari passu in all respects with
the existing Common Shares save that there is a temporary
restriction on the transfer of such Placing Shares into Canada for
a period of four months and one day from the day on which the
Placing Shares were issued (the "Initial Restricted Period"). The
Initial Restriction Period will lapse on 27 October 2017 following
which all the Company's Common Shares will be freely transferable
on the Toronto Stock Exchange ("TSX"). Due to the nature of the
securities issued into CREST and following the merging of the
Placing Shares with the Common Shares, existing Depositary
Interests ("DI") under ISIN CA89156L1085 and any Common Shares
repositioned from Canada to the UK that enter the new DI will be
subject to the Initial Restricted Period. Moreover, these will also
be restricted from being repositioned back to being freely
transferable in Canada for the remainder of the Initial Restricted
Period. Consequently, any Common Shares purchased through the AIM
market may not be sold through the TSX until the expiry of the
Initial Restricted Period.
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
Shore Capital (Nominated Advisor and Joint Broker)
Nominated Adviser: Edward Mansfield / Mark Percy / James Wolfe
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".
This information is provided by RNS
The company news service from the London Stock Exchange
END
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