Trinity Exploration & Production updates Touchstone Exploration share offer

Trinity Exploration & Production release

On 1 May 2024, the boards of directors of Trinity and Touchstone announced that they had reached agreement on the terms of a recommended acquisition of the entire issued, and to be issued, share capital of Trinity by Touchstone (the "Acquisition") to be effected by means of a Court-sanctioned scheme of arrangement under Part 26 of the Companies Act 2006 (the "Scheme"").

Trinity published a shareholder circular relating to the Scheme on 24 May 2024 (the "Scheme Document"). Capitalised terms used but not defined in the announcement have the meanings given to them in the Scheme Document, unless the context requires otherwise.

Trinity and Touchstone are pleased to announce that the Minister has confirmed that the Acquisition does not require his consent to proceed. As a result, Condition 3(e) as set out in Part A of Part Three of the Scheme Document has now been satisfied.

The Acquisition remains subject to certain other Conditions, including the receipt of certain consents and/or waivers from Heritage, approval of the Acquisition by the Trinidad and Tobago Commission, the approval of Trinity shareholders at the Court and General Meetings and the satisfaction or (where capable of being waived) waiver of the other Conditions to the Acquisition as set out in Part Three of the Scheme Document.

A further announcement will be made as soon as an update is available on satisfaction of the remaining Conditions.