TRINITY EXPLORATION & PRODUCTION PLC

AGM Information • Jun 24, 2024

National Storage Mechanism | Additional information

RNS Number : 6696T

Trinity Exploration & Production

24 June 2024

24 June 2024

Trinity Exploration & Production plc

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

Results of the 2024 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	18,849,598	99.40	113,648	0.60	1,590
2	17,614,827	92.93	1,339,870	7.07	10,139
3	18,827,025	99.28	136,221	0.72	1,590
4	18,825,089	99.30	132,157	0.70	7,590
5	18,376,853	96.94	580,393	3.06	7,590
6	18,376,853	96.94	580,393	3.06	7,590
7	9,412,066	49.63	9,551,180	50.37	1,590
8	9,388,518	49.51	9,574,728	50.49	1,590
9	18,831,169	99.30	132,077	0.70	1,590

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 6 together with Resolution 9 were put to the meeting and passed.

Resolution 7, 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 8, a Special Resolution which provides the Directors under Resolution 7 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:

"This is the second consecutive year that shareholders have been unwilling to support Resolutions which deal with the Board's ability to raise new equity, and has been a contributing factor to the Company evaluating its strategic options which ultimately led to the Directors recommending the all share offer from Touchstone."

Enquiries:

Trinity Exploration & Production plc Jeremy Bridglalsingh, Chief Executive Officer Julian Kennedy, Chief Financial Officer Nick Clayton, Non- Executive Chairman Houlihan Lokey UK Limited (Financial Adviser to Trinity) Tom Hughes Tim Richardson	Via   Vigo Consulting +44   (0)20 7839 3355
SPARK Advisory Partners Limited (Nominated Adviser) Mark Brady James Keeshan	+44 (0)20 3368 3550
Cavendish Capital Markets Limited (Broker) Leif Powis Derrick Lee Neil McDonald	+44 (0)20 7397 8900 +44 (0)131 220 6939
Vigo Consulting Limited Finlay Thomson Patrick d'Ancona	t rinity @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.

On 1 May 2024, the board of directors of each of Trinity and Touchstone Exploration Inc (TSX, LSE: TXP) ("Touchstone") announced that they had reached agreement on the terms of a recommended all share offer pursuant to which Touchstone will acquire the entire issued and to be issued ordinary share capital of Trinity (the "Acquisition").  The Acquisition is to be effected by means of a scheme of arrangement under Part 26 of the Companies Act.  Further information on the Acquisition can be found on Trinity's website at:   https://trinityexploration.com/investors/touchstone-offer/ .  

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

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