Trinity Regulatory News (TRIN)

Trinity Exploration & Production plc

('Trinity' or the 'Company' or the 'Group')

Block Admission Application

Trinity Exploration & Production plc (AIM: TRIN), the independent E&P company focused on Trinidad and Tobago, announces that an application has been made to the London Stock Exchange for a block admission to trading on AIM of 35,888,677 new ordinary shares of USD 0.01 each in the Company ("New Ordinary Shares") (the "Block Admission"). The Block Admission, representing 9.34% of the current issued share capital, is being made for the issue and allotment of any New Ordinary Shares arising from the exercise of options pursuant to the vesting of awards made under the Company's Long Term Incentive Plan ("LTIP"). Details of these awards are contained in announcements dated 25 August 2017, 3 January and 10 May 2019 and 26 June 2020.

Upon issue, the New Ordinary Shares will be issued credited as fully paid and rank pari passu in all respects with the existing ordinary shares of the Company. In accordance with rule 29 of the AIM Rules for Companies, the number of New Ordinary Shares issued and allotted under the Block Admission arrangement will be announced every six months.

It is expected that the Block Admission will become effective on, or around, 16 July 2020. 

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About Trinity

Trinity is an independent oil and gas exploration and 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 nine licences and, across all of the Group's assets, management's estimate of 2P reserves as at the end of 2019 was 20.9 mmbbls. Group 2C contingent resources are estimated to be 20.1 mmbbls. The Group's overall 2P plus 2C volumes are therefore 41.1 mmbbls.

Trinity is quoted on the AIM market of the London Stock Exchange under the ticker TRIN.