AIM Rule 26

Description of the business: See Company Overview.
Directors' biographies: See Directors' Biographies.
Board committees: See Board Committees.
Details of incorporation: Touchstone Exploration Inc. is incorporated in Canada under the Alberta Business Corporations Act with registered number 2020127763. As the Company is incorporated in Canada, shareholders' rights may be different from the rights of shareholders in a UK incorporated company. Touchstone is an oil and gas exploration and production company currently active in the Republic of Trinidad and Tobago.
Constitutional documents: Please view our By-law No. 1.
Details of any other exchanges or trading platforms: The Company's common shares are dual listed on the Toronto Stock Exchange and the AIM market of the London Stock Exchange under the symbol "TXP".
The number of securities in issue:
  • 129,021,428 common shares of no par value.
  • No shares are held in treasury.
Significant shareholders:
Name Number of common shares held Percentage of issued share capital
Polar Asset Management Partners Inc. 14,719,000 11.4
North Energy Capital AS 14,279,250 11.1
John David Wright 4,745,027 3.7
Last updated January 29, 2018
  • 27.5% of common shares are not in public hands.
  • Rule 17 of the AIM Rules requires, inter alia, that shareholders notify an AIM listed company once their holding is three percent or more, and changes thereto.
Details of any restrictions on the transfer of securities: All common shares issued by the Company pursuant to the December 22, 2017 UK private placement are freely transferable outside of Canada; however these shares are subject to a four-month restricted hold period in Canada which prevents such common shares from being resold in Canada, through a Canadian exchange or otherwise, during the restricted period (December 22, 2017 to April 23, 2018) without an exemption from the Canadian prospectus requirement.
Annual and interim reports: See Reports & Filings.
Company announcements: See News.
Admission document and circulars: Please view our AIM Admission Document and our May 16, 2017 Management Information Circular.
UK City Code on takeovers and mergers: The Company is not resident in the UK, Channel Islands or the Isle of Man and is therefore not subject to the City Code. However, Canadian laws applicable to the Company provide for early warning disclosure requirements and for takeover bid rules for bids made to security holders in various jurisdictions in Canada, a summary of which is set out in the Admission Document.
Advisors: See Advisors.
Corporate governance: As a result of its listing on the TSX and being a reporting issuer in Alberta, Canada and other Canadian provinces, the Company has established corporate governance practices and procedures appropriate for a publicly listed company. The Company is subject, among other laws and regulations, to instruments published by relevant Canadian securities regulators. Specifically, the Company adheres to Canadian National Instrument 58-101 - Disclosure of Corporate Governance Practices, which prescribes certain disclosure by the Company of its corporate governance practices and Canadian National Policy 58-201 - Corporate Governance Guidelines, which provides non-prescriptive guidelines on corporate governance practices for reporting issuers. The Company complies with Canadian corporate governance standards appropriate for publicly listed companies. Please refer to the Company’s Board of Directors Mandate, Audit Committee Mandate and Code of Conduct and Ethics for further information.
Reserves: See the December 31, 2016 Competent Person's Report.