Last checked at 18 Oct 2022 07:00
This announcement contains inside information as stipulated under the UK version of the Market Abuse Regulation No 596/2014 which is part of English Law by virtue of the European (Withdrawal) Act 2018, as amended. On publication of this announcement via a Regulatory Information Service, this information is considered to be in the public domain.
18 October 2022
Trinity Exploration & Production plc
("Trinity" or "the Group" or "the Company")
Transaction in Own Shares and Buyback Completed
Trinity Exploration & Production plc (AIM: TRIN), the independent E&P company focused on Trinidad and Tobago, announces that on 17 October 2022 it purchased 57,000 of its ordinary shares of USD 0.01 each ("Ordinary Shares"), at an average price of 138 pence per Ordinary Share, pursuant to instructions issued by Trinity as part of its share buyback programme, as announced on 20 September 2022.
Aggregated information on Ordinary Shares purchased according to trading value
Date of purchase | Number of Ordinary Shares purchased | Highest price paid (GBp) | Lowest price paid (GBp) | Volume weighted average price paid per share (GBp) | Venue |
17 Oct 2022 | 57,000 | 1.38 | 1.38 | 1.38 | AIM |
To date, Trinity has purchased 672,000 Ordinary Shares in aggregate in connection with this share buyback programme. Trinity intends to hold the purchased Ordinary Shares in treasury.
Transaction details
In accordance with Article 5(1)(b) of the Market Abuse Regulation (EU) No 596/2014, as it forms part of Retained EU Law as defined in the European Union (Withdrawal) Act 2018, a full breakdown of the individual purchases of Ordinary Shares made by Cenkos, on behalf of the Company as part of the share buy-back programme, is detailed below.
Number of Ordinary Shares purchased | Transaction price (GBp) | Time of Transaction | Trading Venue |
57,000 | 1.38 | 12:13 | AIM |
Completion of buyback programme
Following the above transaction, Trinity has purchased approximately USD 1 million of Ordinary Shares in line with its announcement of 20 September 2022 and consequently this buyback programme has been completed.
Company shareholding in treasury and Total Voting Rights
Following the above transaction, Trinity holds 672,000 of its Ordinary Shares in treasury and has 39,884,637 Ordinary Shares in issue (including treasury shares). Therefore, the total voting rights in the Company will be 39,212,637. This figure for the total number of voting rights may be used by shareholders (and others with notification obligations) as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.
Enquiries:
Trinity Exploration & Production plc Nick Clayton, Non- Executive Chairman Jeremy Bridglalsingh, Chief Executive Officer Julian Kennedy, Corporate Development Manager
| 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 Limited Finlay Thomson / Patrick d'Ancona
| 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 2021 was 19.73 mmbbls. Group 2C contingent resources are estimated to be 47.22 mmbbls. The Group's overall 2P plus 2C volumes are therefore 66.95 mmbbls.
Trinity is quoted on AIM, a market operated and regulated by the London Stock Exchange Plc, under the ticker TRIN.