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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Trinity Exploration & Production Plc | LSE:TRIN | London | Ordinary Share | GB00BN7CJ686 | ORD USD0.01 |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
|
|
|---|---|---|---|---|---|
| 1.00 | 1.92% | 53.00 | 54,030 | 15:33:31 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| 52.00 | 54.00 | 53.00 | 52.50 | 53.00 | |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| - |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| 16:27:51 | O | 50,000 | 52.50 | GBX |
| Date | Time | Source | Headline |
|---|---|---|---|
| 26/7/2024 | 09:23 | UK RNS | Cavendish Securities PLC Form 8.5 (EPT/NON-RI) |
| 25/7/2024 | 13:23 | UK RNS | Takeover Panel Trinity Exploration deadline for clarification |
| 25/7/2024 | 11:04 | UK RNS | Touchstone Exploration Inc. Offer for Trinity Exploration & Production Plc |
| 24/7/2024 | 17:50 | UK RNS | Trinity Exploration & Production Statement re Possible Offer |
| 24/7/2024 | 08:54 | UK RNS | Cavendish Securities PLC Form 8.5 (EPT/NON-RI) - Trinity Exploration & Pro |
| 22/7/2024 | 13:30 | UK RNS | Trinity Exploration & Production Block Listing Return |
| 19/7/2024 | 19:34 | ALNC |  TRADING UPDATES: Ingenta and Shearwater win deals |
| 19/7/2024 | 11:31 | UK RNS | Trinity Exploration & Production Q2 2024 Corporate Update |
| 18/7/2024 | 09:10 | UK RNS | Cavendish Securities PLC Form 8.5 (EPT/NON-RI) - Trinity Exploration & Prod |
| 16/7/2024 | 13:39 | UK RNS | Cavendish Securities PLC Form 8.5 (EPT/NON-RI) - Replacement |
Trinity Exploration & Pr... (TRIN) Share Charts1 Year Trinity Exploration & Pr... Chart |
|
1 Month Trinity Exploration & Pr... Chart |
Intraday Trinity Exploration & Pr... Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 26/7/2024 | 14:11 | Trinity Exploration - bickering thread 2020 | 3,784 |
| 26/7/2024 | 12:22 | Trinity: OIL PRODUCER 2020 | 7,776 |
| 08/3/2021 | 16:06 | Trinity Going to 1p | 3 |
| 10/12/2020 | 21:46 | Trinity Exploration & Production 2018 | 8,953 |
| 02/4/2019 | 16:49 | Trinity Exploration & Production PLC | 6,470 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|---|---|---|---|
| 2024-07-26 16:15:00 | 52.50 | 50,000 | 26,250.00 | O |
| 2024-07-26 15:27:52 | 52.04 | 7,398 | 3,849.92 | O |
| 2024-07-26 14:36:41 | 52.25 | 6,000 | 3,135.00 | O |
| 2024-07-26 14:32:29 | 52.88 | 5,000 | 2,644.00 | O |
| 2024-07-26 13:58:17 | 52.88 | 71 | 37.54 | O |
| Top Posts |
|---|
Posted at 26/7/2024 10:06 by che7win Yes sleepy, but though the acceptances would not be binding, it doesn’t mean that the voters would have changed their minds.Nor does it mean that TXP would pull their offer, that would be unwise. All it needs is for TXP share price to recover to 40p (worth TRIN share price of 60p) and that would see off this rival bid. |
Posted at 25/7/2024 12:26 by value hound Simon T has updated under the heading; "Touchstone’s bid for Trinity gate crashed by rival"He concludes … "Given the gulf between the two offers, Trinity’s board has rescheduled the court hearing to 23 August 2024 to provide time for Lease Operators’ proposal to be evaluated and advanced. Touchstone’s proposed 1.5-for-one share exchange was originally worth 61.9p per Trinity share, but the company’s share price has shed a quarter of its value since the offer was made (‘Touchstone bid lights up Trinity’s shares’, 1 May 2024). It now has a value of 46.5p per Trinity share, representing a 39 per cent discount to the 76p target price of Trinity’s house broker Cavendish. Of course, there is no certainty that Lease Operators will make a firm offer, but Trinity shareholders have nothing to lose by letting this bid situation play out. Hold." |
Posted at 24/7/2024 17:53 by mirabeau Trinity Exploration & Production plc ("Trinity")Statement regarding possible offer by Lease Operators Limited ("Lease Operators") and Re-scheduled Court Hearing The recommended all share offer by Touchstone Exploration Inc. ("Touchstone") On 1 May 2024, the boards of directors of Trinity and Touchstone announced that they had reached agreement on the terms of a recommended all share acquisition of the entire issued and to be issued share capital of Trinity by Touchstone (the "Acquisition") to be effected by means of a Court-sanctioned scheme of arrangement under Part 26 of the Companies Act 2006 (the "Scheme"). Under the terms of the Acquisition, upon the Scheme becoming effective Trinity Shareholders will be entitled to receive 1.5 new Touchstone Shares for each Trinity Share held. Trinity published a shareholder circular relating to the Scheme on 24 May 2024 (the "Scheme Document"). Capitalised terms used but not defined in this announcement have the meanings given to them in the Scheme Document, unless the context requires otherwise. On 24 June 2024, Trinity announced that the requisite voting majorities to approve and give effect to the Scheme had been received at the Court Meeting and the General Meeting, each held that day. On 28 June 2024, Trinty announced that all Regulatory and Antitrust Conditions, as set out in Part A of Part Three of the Scheme Document, had been satisfied. The Acquisition remains subject, inter alia, to the Court's sanction of the Scheme at the Court Hearing. Possible offer by Lease Operators The board of directors of Trinity (the "Board") announces that on 17 July 2024 it received an unsolicited, conditional, non-binding, indicative proposal from Lease Operators, a company incorporated in Trinidad and Tobago, regarding a possible cash offer for the entire issued and to be issued share capital of Trinity at a price of 68.05 pence per Trinity Share (the "Lease Operators Proposal"). The Board notes that should a firm intention to make an offer pursuant to Rule 2.7 of the Code (a "Rule 2.7 Announcement") be announced on such terms, the Lease Operators Proposal would value the entire issued share capital of Trinity (excluding Trinity Shares held in Treasury) at approximately £26.5m and represent a premium of: · 41.8 per cent. to the Closing Price of a Trinity Share of 48 pence on 24 July 2024 (being the date of this announcement); · 89.0 per cent. to the unaffected price of a Trinity Share of 36 pence (being the Closing Price on 30 April 2024, the last Business Day prior to the announcement of the Acquisition); · 71.0 per cent. to the volume-weighted average price of a Trinity Share of 39.8 pence for the 3-month period ending 30 April 2024 (being the last Business Day prior to the announcement of the Acquisition); and · 39.6 per cent. to the implied value of a Trinity Share pursuant to the Acquisition based on the Closing Price of a Touchstone Share of 32.5 pence on 24 July 2024 (being date of this announcement). The Lease Operators Proposal states that the making of a Rule 2.7 Announcement is conditional upon, amongst other things, the completion of satisfactory confirmatory due diligence on Trinity by Lease Operators and a unanimous recommendation from the Board (the "Pre-Conditions"). Lease Operators has informed the Board that the Pre-Condition relating to its recommendation is not waivable but the Pre-Condition relating to due diligence is waivable. This announcement does not constitute a firm intention by Lease Operators to make an offer for Trinity. The Board emphasises that there can be no certainty that any firm offer for Trinity from Lease Operators will be forthcoming (even if the Pre-Conditions are satisfied or waived). Rescheduled Court Hearing relating to the Scheme and consideration of the Lease Operators Proposal In light of the indicative terms of the Lease Operators Proposal and recognising that the Court Hearing to sanction the Scheme is imminent and scheduled for 31 July 2024, the Board has decided to reschedule the Court Hearing to the next available date, being 23 August 2024 (the "Re-scheduled Court Hearing"), in order to provide additional time for the Lease Operators Proposal to be advanced and evaluated. The Board highlights that Touchstone will have the ability to invoke Condition 2.3 (ii) of Part A of Part Three of the Scheme Document on the day prior to the Rescheduled Court Hearing if it so chooses. Code Notices Any offer for Trinity is governed by the Code. In accordance with Paragraph 4(c) of Appendix 7 of the Code, the Panel Executive will announce the deadline by which Lease Operators must clarify its intentions in relation to Trinity. In accordance with Rule 2.5 of the Code and to the extent that Trinity declares, makes or pays any dividend or distribution or other payment or return of capital to Trinity Shareholders following the time of this announcement, Lease Operators reserves the right to make an equivalent reduction to the terms of the consideration payable under the Lease Operators Proposal. In such circumstances Trinity Shareholders would be entitled to receive and retain any such dividend and/or other distribution and/or return of capital or value to which they are entitled. |
Posted at 20/7/2024 16:37 by nocents “ Multiple oil-bearing reservoirs”!!3 bopd per reservoir. We have been taken for a ride. It seems the norm in the stock market now, particularly AIM. Bruce at least had some integrity and honour, and pride in the company. This BOD did not have a clue about oil, nor did their esteemed geologist James Menzies. Their incompetence is astounding. Regarding TXP, I would not expect quite the same incompetence. Baay seems to understand gas and oil better, although I expect he does not give a fig about shareholders. However Trin holders will own 20% of TXP. This will allow them to have some influence , although not 50% as in Trin. It is good to be wary of TXP. Shareholders are cannon fodder across the board these days. Didn’t used to be so. Paul Baay did express his desire last October to enter the FTSE 250. Yes that could be pie in the sky. Sales talk. Or true. He has offshore now to market or farm out with no spt. Trin’s off shore with no spt ($73 a barrel Q2) . About $3m savings in admin. A host of drilling prospects at $1m each. No hedging. Oil not just gas. Is txp a lifestyle company like Trin became? Maybe. Maybe not. I think Baay is certainly more proactive. But shareholders. We mean diddly-squat but could combine to exert a pressure group. This is not Trin. Baay is more cautious re. deep drills. Txp should be producing quite a lot of cash with Trin from here. I have lost so much that the little I would get back is exactly that, almost irrelevant. The more large shareholders there are in TXP the safer they will be. Yes I am very wary too. But I saw this reach £1.50 in 2021. Trin never got above the old 16p. In 2019 they were both 10p!! Trin has wearied us. They deserve nothing but shame. But we must let our aims evolve as the new company does. But we should never trust them. |
Posted at 22/6/2024 10:50 by nocents Terms cannot be altered post-vote.Not sure what these risks are(??). Trin carries negligible risk and decent reward. TXP has around $20m debt but Trin can help with that, as can FCF. The ‘market’ has not marked down this deal. It is simply responding to people selling some TXP. Buying Trin makes more sense but Trin’s price in turn reflects TXP only until end Q3 or whenever date of enactment. This is a very good deal for TXP!! 20% dilution for what they get!! Not sure I follow your logic. Galeota will not be developed by Trin, and Paul Baay has repeatedly made it clear he is mainly interested in onshore development. Galeota can however be used for considerable tax losses, which may merge with BA , and could possibly be sold off . A large producing oil company borders Trin’s asset. It would be an error for Trin holders to reject this offer. I do not see the share price recovering this year personally, but TXP has plans and the cash flow( with Trin) to develop cretacious migrated oil (3 wells at $10m), and BA. It needs to diversify away from gas as gas prices are fixed and negotiated rather low in Trinidad. Oil is unlikely to drop as Russia is not going to stop, and Iran supports it. I suppose if China invaded Taiwan there could be a trade embargo which could cause a global recession, but it is not that simple. Oil is likely to stay high for 3-5 years imo. The correct long term reduction of emissions is the way forward but in the short term Russia has kyboshed it. So TXP need to get the oil out of the ground asap . And gas. Talking 3-5 years IMO. Lexus. Who has added?? |
Posted at 06/5/2024 10:17 by pavey ark A few fairly random points this morning:1. I take it that the largest shareholders were tipped that "something" was going on or TXP picked up on disquiet but either way this explains the lack of action by the major shareholders...... the board were smart enough (for once ) to see that their time was up. 2.The new shares are 19.9% of the TXP total .....at first I thought this a strange figure but I take it that companies can issue under 20% without shareholder approval. 3. Trying hard not to look at TXP drilling, financial forecasts etc but it looks like we have gone from a dull uneventful year with TRIN to a bit more activity/interest from TXP. I think that most people have decided that this is a done deal so what happens if we get even a small amount of good news from TXP and the share price returns to 50p+......does TRIN go to 75p+ ? We now have a self fulfilling prophecy here.....TRIN shares rise BECAUSE of smallish uptick in TXP which then makes the deal even more likely to go through.....no deal and the price falls back. If the TRIN shares don't rise immediately on a rise from TXP then TXP holders will/should sell TXP and buy TRIN. 4. Where does this leave the TRIN price ?.....hmmm if, as everyone expects, the deal goes ahead the the question is....where does this leave the TXP price? 50p looks a rather easy target and if the upcoming results/updates are positive then 60p is very possible.......but TRIN is a bit of a steal so we have to add that in. I could see the year end TRIN equivalent price being at or over 100p ........something none of us imagined possible before this deal. |
Posted at 04/5/2024 10:51 by pavey ark I had a look and the TXP shareholders (ADVFN posters) are far from pleased with their management but the winder market simply had absolutely no faith in the TRIN management.I intend to vote for the deal for the simple reason that I consider it the best way to realise the value in TRIN....and my shareholding. Since the approach by TXP their share price has certainly outperformed TRIN (hardly difficult). The G&A figure for TRIN is over $7m a year so a lump can be taken from this. Regarding the TXP share price ..it responded to some good drilling results and was over 50p for most of April then fell away.....if ,as some TRIN holders are saying, this is a good deal for TXP then the TXP share price should respond. Would like to see someone else coming in here but it looks like a done deal. |
Posted at 04/5/2024 00:18 by orbit007 I will keep an open mind, until the vote and an eye on Truestone share price. It's in the shop window, so someone else may come in. I think you need to make the distinction between selling Trinity or its assets and the potential value that can be gained with whatever Touchstone are pedalling about upside with them...lets be clear, in the RNS info it says the share exchange ratio was agreed in Nov 23 when Touchstone share price was over 50p, that would be a materially higher value being ascribed to Trinity than the current share price of Touchstone implies.I saw the decline rate has caused an issue with them recently on their prime asset, I don't really like how far their share price has fallen recently, I also think they pulled the trigger with that offer because they want to get it done before they lose anymore value. Trinity is a profitable company, it could continue on its own path..but that brings me to management.... I think our management have thrown the towel in, partly because they read this board and threw their toys out the pram at our critique of their performance. So we can't ignore the issue that they may just want shot at any price. Lets face it, this is being sold for £10m ex y/e forecast cash on current Truestone price, that seems a bit daft. |
Posted at 03/5/2024 22:38 by sleepy Having invested for decades without having bought a small oil company i started to buy shares in TRIN this year. I am concerned about the competence of the TRIN board and that they may not have got a good/best deal for shareholders.I think TRIN is subscale and can see logic in putting TRIN and TXP together (also very happy to accept a better offer from someone else) My understanding is that what is currently proposed would result in TRIN shareholders having about 20% of the enlarged company. Is this reasonable/fair? TRIN shareholders could achieve a 25% interest with an offer of 2 TXP shares for 1 TRIN share. The proposal requires a 75% vote in favour. Assuming 80% of shareholders vote then it could be defeated by holders of about 8 million shares. The largest shareholder has 4m shares. There may well be others who would support an attempt to improve the offer and with £2 million, not a large amount of money to some people, and the support of the largest TRIN shareholder then TXP could be forced to renegotiate their offer (or let it lapse which I sense that they would be reluctant to do) |
Posted at 01/5/2024 13:50 by che7win Did one last arbitrage.Sold 27000 shares in TXP at 39.55p and bought 19395 shares at 55p. I'm pushing up TRIN share price, very hard to buy any and I think that's enough risk/arbitrage from me for now |
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