TRINITY EXPLORATION & PRODUCTION PLC

AGM Information • Jun 27, 2023

National Storage Mechanism | Additional information

RNS Number : 0712E

Trinity Exploration & Production

27 June 2023

27 June 2023

Trinity Exploration & Production plc

("Trinity" or "the Group" or "the Company")

Results of the 2023 Annual General Meeting

Trinity Exploration & Production plc (AIM: TRIN), the independent E&P company focused on Trinidad and Tobago, advises that it held its Annual General Meeting ("AGM") earlier today.

The resolutions put to the AGM were voted on by way of a poll and the results are as follows:

Resolutions	For	%	Against	%	Withheld
1	20,812,068	100.00%	138	0.00%	758
2	20,056,226	96.39%	752,063	3.61%	4,675
3	20,786,360	99.88%	25,846	0.12%	758
4	20,788,482	99.90%	21,807	0.10%	2,675
5	20,785,563	99.91%	19,578	0.09%	7,823
6	7,679,286	36.90%	13,130,420	63.10%	3,258
7	10,509,952	50.52%	10,291,746	49.48%	11,266
8	20,797,201	99.93%	15,608	0.07%	155
9	20,792,493	99.93%	15,316	0.07%	5,155

A "Vote withheld" is not a vote in law and is not counted in the calculation of the percentage of shares voted "For" or "Against" any resolution.

Resolutions 1 to 5 together with Resolutions 8 and 9 were put to the meeting and passed.

Resolution 6, an Ordinary Resolution granting the Directors power to allot shares, and which required 50 per cent. of the votes cast to be in favour in order to pass, has failed.  Resolution 7, a Special Resolution which provides the Directors under Resolution 6 to allot shares without pre-emptive rights, and which required 75 per cent. of the votes cast to be in favour in order to pass, has also failed. 

Nicholas Clayton, Non-Executive Chair of Trinity Exploration & Production plc, commented:

"Whilst it is disappointing that Resolutions 6 and 7 did not pass, we will engage with those shareholders who voted against these Resolutions to better understand their rationale for doing so. Following this result, should the Company be in the position to seek to allot shares, shareholder approval will be required at a General Meeting."

Enquiries:

Trinity Exploration & Production plc Nicholas Clayton, Non- Executive Chairman Jeremy Bridglalsingh, Chief Executive Officer Julian Kennedy, Chief Financial Officer	Via Vigo Consulting
SPARK Advisory Partners Limited (Nominated Adviser and Financial Adviser) Mark Brady James Keeshan	+44 (0)20 3368 3550
Cenkos Securities PLC (Broker) Leif Powis Neil McDonald	+44 (0)20 7397 8900  +44(0)131 220 6939
Vigo Consulting Ltd (IR/PR Adviser) Finlay Thomson / Patrick d'Ancona	Email: trinity@vigoconsulting.com +44 (0)20 7390 0230

About Trinity (www.trinityexploration.com)

Trinity is an independent oil production company focused solely on Trinidad and Tobago.  Trinity operates producing and development assets both onshore and offshore, in the shallow water West and East Coasts of Trinidad.  Trinity's portfolio includes current production, significant near-term production growth opportunities from low-risk developments and multiple exploration prospects with the potential to deliver meaningful reserves/resources growth.  The Company operates all of its ten licences and, across all of the Group's assets, management's estimate of the Group's 2P reserves as at the end of 2022 was 17.96 mmbbls.  Group 2C contingent resources are estimated to be 48.88 mmbbls.  The Group's overall 2P plus 2C volumes are therefore 66.84 mmbbls.

Trinity is quoted on AIM, a market operated and regulated by the London Stock Exchange Plc, under the ticker TRIN.

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