Trinity Exploration & Production Debt Repayment (6655W)

TIDMTRIN

RNS Number : 6655W

Trinity Exploration & Production

03 August 2018

THIS ANNOUNCEMENT, IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, CANADA, AUSTRALIA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF THE SECURITIES LAWS OF SUCH JURISDICTIONS.

THE INFORMATION COMMUNICATED IN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF MARKET ABUSE REGULATION EU NO. 596/2014. UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA REGULATORY NEWS SERVICE THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

Trinity Exploration & Production plc

("Trinity" or "the Company")

Debt Repayment

Trinity Exploration & Production plc (AIM: TRIN), the independent exploration and production company focused on Trinidad, is pleased to announce that it has repaid all outstanding debt, amounting to US$4.2 million in aggregate, to the Board of Inland Revenue of Trinidad and Tobago ("BIR") and the Ministry of Energy and Energy Industries of Trinidad & Tobago ("MEEI").

This is a pivotal period for the Company as it enables Trinity to now repay the entire amount outstanding to the remaining holders of the convertible redeemable loan notes issued by the Company (the "Loan Notes"), and thereby facilitates the full repayment of all outstanding debt. The Company will today begin the process of redeeming the Loan Notes in accordance with their terms and it is anticipated that this process will be formally completed with redemption occurring on 15 August 2018.

Bruce A. I. Dingwall CBE, Executive Chairman of Trinity, commented:

"We are delighted to have repaid early our outstanding debts to two key stakeholders in Trinidad & Tobago, and to be completing the redemption of the remaining convertible redeemable loan notes, and therefore being debt free, in the very near-term. Moving forward with a clean balance sheet and a strong inventory of growth opportunities means we look to the future with confidence and are ideally positioned to take advantage of future opportunities as the environment in Trinidad & Tobago evolves."

Enquiries

For further information please visit www.trinityexploration.com or contact:

 
 Trinity Exploration & Production plc                            [phone] 
 Bruce Dingwall CBE, Executive Chairman 
  Jeremy Bridglalsingh, Chief Financial Officer 
  Tracy Mackenzie, Corporate Development 
  Manager 
 
 SPARK Advisory Partners Limited (Nominated 
  Adviser and Financial Adviser)                                 [phone] 
 Mark Brady 
  Miriam Greenwood 
  Andrew Emmott 
 
 Cenkos Securities PLC (Broker) 
 Joe Nally (Corporate Broking) 
  Neil McDonald 
  Beth McKiernan 
  Derrick Lee                                                    [phone] 
  Pete Lynch                                                     [phone] 
 
 Whitman Howard Limited (Equity Adviser)                         [phone] 
 Nick Lovering 
  Hugh Rich 
 
 Walbrook PR Limited                                             [phone] 
 Nick Rome                                         [e-mail] 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

END

MSCSSFFEEFASEDA

(END) Dow Jones Newswires

August 03, 2018 02:00 ET (06:00 GMT)