TIDMTRIN
RNS Number : 2985S
Trinity Exploration & Production
20 December 2016
Embargoed 07.00a.m.
20 DECEMBER 2016
NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR
INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES OF
AMERICA, AUSTRALIA, CANADA, JAPAN AND THE REPUBLIC OF SOUTH AFRICA
OR ANY OTHER JURISDICTION IN WHICH IT WOULD BE UNLAWFUL TO DO SO.
PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS
ANNOUNCEMENT.
THIS ANNOUNCEMENT IS AN ADVERTISEMENT AND DOES NOT CONSTITUTE A
PROSPECTUS OR PROSPECTUS EQUIVALENT DOCUMENT. NOTHING HEREIN SHALL
CONSTITUTE AN OFFERING OF EXISTING ORDINARY SHARES, NEW ORDINARY
SHARES OR CONVERTIBLE LOAN NOTES.
Unless otherwise defined, capitalised terms used in this
Announcement have the same meaning as set out in the Fundraising
announcement issued by the Company on Friday, 9 December 2016.
Trinity Exploration & Production plc
("Trinity" or "the Group" or "the Company")
Result of Creditors Meeting
The meeting of the Trinidad and Tobago Creditors in respect of
the Creditors Proposal was held in Trinidad yesterday, 19 December
2016. The Company can confirm that the Trinidad and Tobago
Creditors approved the Creditors Proposal.
The Trustee will now apply to the Trinidad and Tobago Court for
a hearing of the application for the approval of the Creditors
Proposal by the Trinidad and Tobago Court. It is anticipated that
this hearing will take place in January 2017.
In the meantime, the General Meeting of the Company to approve
the Restructuring will be held on Thursday 29 December 2016 at
10a.m. at the offices of Pinsent Masons LLP, Third Floor, Quay 2,
139 Fountainbridge, Edinburgh EH3 9QG, United Kingdom. Unless all
of the Shareholder Resolutions are passed at the General Meeting,
the Restructuring will not proceed.
Further announcements will be made as appropriate.
Enquiries
Trinity Exploration & Production Tel: +44 (0)
Bruce Dingwall, Executive Chairman 131 240 3860
Tracy Mackenzie, Head of Corporate
Development
SPARK Advisory Partners Limited Tel: +44 (0)
(Nominated & Financial Adviser) 203 368 3550
Mark Brady
Miriam Greenwood
Sean Wyndham-Quin
Cantor Fitzgerald Europe (Broker) Tel: +44 (0)
David Porter 207 894 7000
Sebastien Maurin
Craig Francis
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 2015 was 20.9 MMbbls
(excluding the Guapo-1 license which was disposed of in April
2016). Group 2C contingent resources are estimated to be 19.8
MMbbls. The Group's overall 2P plus 2C volumes are therefore 40.7
MMbbls.
Trinity is listed on the AIM market of the London Stock Exchange
under the ticker TRIN.
IMPORTANT NOTICE
This Announcement has been issued by and is the sole
responsibility of the Company. The information contained in this
Announcement is for background purposes only and does not purport
to be full or complete. No reliance may or should be placed by any
person for any purpose whatsoever on the information contained in
this Announcement or on its accuracy or completeness. The
information in this Announcement is subject to change.
Neither the contents of the Company's website nor the contents
of any website accessible from hyperlinks on the Company's website
(or any other website) is incorporated into, or forms part of, this
Announcement.
This Announcement does not constitute, or form part of, a
prospectus relating to the Company, nor does it constitute or
contain any invitation or offer to any person, or any public offer,
to subscribe for, purchase or otherwise acquire any shares in the
Company or advise persons to do so in any jurisdiction, nor shall
it, or any part of it form the basis of or be relied on in
connection with any contract or as an inducement to enter into any
contract or commitment with the Company.
The content of this Announcement has not been approved by an
authorised person within the meaning of the Financial Services and
Markets Act 2000 (as amended).
This Announcement is not for publication or distribution,
directly or indirectly, in or into the United States of America
("United States" or "US"). This Announcement is not an offer of
securities for sale into the United States. The securities referred
to herein (including for the avoidance of doubt the Existing
Ordinary Shares, the New Ordinary Shares and the Convertible Loan
Notes) have not been and will not be registered under the U.S.
Securities Act of 1933, as amended, and may not be offered or sold
in the United States, except pursuant to an applicable exemption
from registration. No public offering of securities is being made
in the United States.
This Announcement is not for release, publication or
distribution, directly or indirectly, in whole or in part, in, into
or from the United States, Australia, Canada, Japan, the Republic
of Ireland or the republic of South Africa or any other
jurisdiction in which such publication, release or distribution
would be unlawful (a "Prohibited Jurisdiction"). This Announcement
and the information contained herein are not for release,
publication or distribution, directly or indirectly, to persons in
a Prohibited Jurisdiction unless permitted pursuant to an exemption
under the relevant local law or regulation in any such
jurisdiction. This Announcement has been issued by and is the sole
responsibility of the Company.
SPARK which is authorised and regulated in the United Kingdom by
the FCA, is acting exclusively for the Company and no-one else in
connection with the Fundraising and will not regard any other
person (whether or not a recipient of this Announcement) as a
client in relation to the Fundraising and will not be responsible
to anyone other than the Company for providing the protections
afforded to its clients or for providing advice in relation to the
Fundraising, or any other matter referred to herein. Its
responsibilities as the Company's nominated adviser under the AIM
Rules for Companies and the AIM Rules for Nominated Advisers are
owed to the London Stock Exchange and the Company and not to any
other person in respect of his decision to acquire Existing
Ordinary Shares, New Ordinary Shares or Convertible Loan Notes in
reliance on any part of this Announcement. Its responsibilities as
the Company's financial adviser are owed to the Company and not to
any other person. No representation or warranty, express or
implied, is made by SPARK as to any of the contents of this
Announcement.
Cantor Fitzgerald which is authorised and regulated in the
United Kingdom by the FCA, is acting exclusively for the Company
and no-one else in connection with the Fundraising and will not
regard any other person (whether or not a recipient of this
Announcement) as a client in relation to the Fundraising and will
not be responsible to anyone other than the Company for providing
the protections afforded to its clients or for providing advice in
relation to the Placing and Subscription, or any other matter
referred to herein. Its responsibilities as the Company's
bookrunner are owed to the Company and not to any other person in
respect of their decision to Existing Ordinary Shares, New Ordinary
Shares or Convertible Loan Notes in reliance on any part of this
Announcement. No representation or warranty, express or implied, is
made by Cantor Fitzgerald as to any of the contents of this
Announcement.
END
This information is provided by RNS
The company news service from the London Stock Exchange
END
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December 20, 2016 02:00 ET (07:00 GMT)
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