Trinity Exploration & Production Results of the 2023 AGM (0712E)

TIDMTRIN

RNS Number : 0712E

Trinity Exploration & Production

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         Via Vigo Consulting 
 Nicholas Clayton, Non- Executive Chairman 
 Jeremy Bridglalsingh, Chief Executive 
 Officer 
 Julian Kennedy, Chief Financial Officer 
SPARK Advisory Partners Limited 
 (Nominated Adviser and Financial Adviser) 
 Mark Brady 
 James Keeshan                                +44 (0)20 3368 3550 
Cenkos Securities PLC (Broker) 
 Leif Powis                                   +44 (0)20 7397 8900 
 Neil McDonald                                 +44(0)131 220 6939 
Vigo Consulting Ltd (IR/PR Adviser)          Email: trinity@vigoconsulting.com 
 Finlay Thomson / Patrick d'Ancona            +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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June 27, 2023 06:21 ET (10:21 GMT)

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