⌘K
t
| Date | 14 Jun 2022 |
| Time | 17:56:26 |
| Category | Holding(s) in company |
| ID | 8824O |
Trinity Exploration & Production plc
('Trinity' or the 'Company' or the 'Group')
Notification of Reorganisation of Significant Shareholding
Trinity Exploration & Production plc (AIM: TRIN), the independent E&P company focused on Trinidad and Tobago, announces that it has received a TR1 notification from the trust of David and Christina Segel as set out below. David and Christina Segel are re-organising their holdings and as a result the David and Christina Segel Living Trust plans to dispose of the shares it holds within Trinity and reallocate them within their family such that there is no reduction in the family's combined shareholding. The plan is to distribute to two new trusts: the David A Segel Trust and the CS Living Trust. The initial distribution has resulted in the David and Christina Segel Living Trust now holding 3,724,998 Ordinary shares, amounting to 9.58% in the capital of Trinity.
While the TR1 as set out below describes how 0.84% of the shareholding is being reorganised, the remainder of 9.58% is expected to be transferred and the reorganisation completed in the near future, which will be described in further announcements.
TR-1: Standard form for notification of major holdings
|
NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible) i |
||||||
|
|
||||||
|
1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached ii: |
Trinity Exploration & Production plc |
|||||
|
1b. Please indicate if the issuer is a non-UK issuer (please mark with an "X" if appropriate) |
||||||
|
Non-UK issuer |
|
|||||
|
2. Reason for the notification (please mark the appropriate box or boxes with an "X") |
||||||
|
An acquisition or disposal of voting rights |
X |
|||||
|
An acquisition or disposal of financial instruments |
|
|||||
|
An event changing the breakdown of voting rights |
|
|||||
|
Other (please specify) iii: |
|
|||||
|
3. Details of person subject to the notification obligation iv |
||||||
|
Name |
Arrabon Energy Services LLC, majority owned by the David and Christina Segel Living Trust |
|||||
|
City and country of registered office (if applicable) |
|
|||||
|
4. Full name of shareholder(s) (if different from 3.) v |
||||||
|
Name |
|
|||||
|
City and country of registered office (if applicable) |
|
|||||
|
5. Date on which the threshold was crossed or reached vi: |
10th June 2022 |
|||||
|
6. Date on which issuer notified (DD/MM/YYYY): |
13th June 2022 |
|||||
|
7. Total positions of person(s) subject to the notification obligation |
||||||
|
|
% of voting rights attached to shares (total of 8. A) |
% of voting rights through financial instruments |
Total of both in % (8.A + 8.B) |
Total number of voting rights held in issuer (8.A + 8.B) vii |
||
|
Resulting situation on the date on which threshold was crossed or reached |
9.58% |
|
9.58% |
9.58% |
||
|
Position of previous notification (if applicable) |
10.42% |
|
10.42% |
|
||
|
8. Notified details of the resulting situation on the date on which the threshold was crossed or reached viii |
|||||||||
|
A: Voting rights attached to shares |
|||||||||
|
Class/type of ISIN code (if possible) |
Number of voting rights ix |
% of voting rights |
|||||||
|
Direct (DTR5.1) |
Indirect (DTR5.2.1) |
Direct (DTR5.1) |
Indirect (DTR5.2.1) |
||||||
|
Ordinary US$1.00 |
3,724,998 |
|
9.58% |
|
|||||
|
|
|
|
|
|
|||||
|
|
|
|
|
|
|||||
|
SUBTOTAL 8. A |
3,724,998 |
9.58% |
|||||||
|
|
|||||||||
|
B 1: Financial Instruments according to DTR5.3.1R (1) (a) |
|||||||||
|
Type of financial instrument |
Expiration |
Exercise/ |
Number of voting rights that may be acquired if the instrument is exercised/converted. |
% of voting rights |
|||||
|
|
|
|
|
|
|||||
|
|
|
|
|
|
|||||
|
|
|
|
|
|
|||||
|
|
|
SUBTOTAL 8. B 1 |
|
|
|||||
|
|
|||||||||
|
B 2: Financial Instruments with similar economic effect according to DTR5.3.1R (1) (b) |
|||||||||
|
Type of financial instrument |
Expiration |
Exercise/ |
Physical or cash Settlement xii |
Number of voting rights |
% of voting rights |
||||
|
|
|
|
|
|
|
||||
|
|
|
|
|
|
|
||||
|
|
|
|
|
|
|
||||
|
|
|
|
SUBTOTAL 8.B.2 |
|
|
||||
|
|
|||||||||
|
9. Information in relation to the person subject to the notification obligation (please mark the applicable box with an "X") |
||||
|
Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer xiii |
|
|||
|
Full chain of controlled undertakings through which the voting rights and/or the |
|
|||
|
Name xv |
% of voting rights if it equals or is higher than the notifiable threshold |
% of voting rights through financial instruments if it equals or is higher than the notifiable threshold |
Total of both if it equals or is higher than the notifiable threshold |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
10. In case of proxy voting, please identify: |
||||
|
Name of the proxy holder |
|
|||
|
The number and % of voting rights held |
|
|||
|
The date until which the voting rights will be held |
|
|||
Enquiries:
|
Trinity Exploration & Production plc Nick Clayton, Non- Executive Chairman Jeremy Bridglalsingh, Chief Executive Officer
|
Via Walbrook |
|
SPARK Advisory Partners Limited (Nominated Adviser and Financial Adviser) Mark Brady James Keeshan
|
Tel: +44 (0)20 3368 3550 |
|
Cenkos Securities PLC (Broker) Leif Powis Neil McDonald
|
Tel: +44 (0)20 7397 8900 +44(0)131 220 6939 |
|
Walbrook PR Limited Nick Rome /Tom Cooper
|
Tel: +44 (0)20 7933 8780
|
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 the AIM market of the London Stock Exchange under the ticker TRIN.