TIDMTRIN
RNS Number : 8485T
Trinity Exploration & Production
11 January 2017
Embargoed 08.10a.m.
11 January 2017
Trinity Exploration & Production plc
("Trinity" or "the Group" or "the Company")
Board Changes
Further to the announcement made on 13 December 2016 and the
completion of the Restructuring announced by the Company on 9
December 2016, the Board of Trinity confirms the appointments, as
Directors of the Company, of Jeremy Bridglalsingh, David Segel and
Angus Winther, with immediate effect.
Jeremy Nicholas Bridglalsingh, (Aged 37) - Executive
Director
Jeremy Bridglalsingh is a qualified accountant (Chartered
Institute of Management Accountants, 2006) with a BSc. in
Management Studies from the University of the West Indies (2000).
Prior to joining Trinity in 2012, he worked in financial services
at PricewaterhouseCoopers (Trinidad and Tobago) and Operis Group
plc (London), mainly in an advisory role on various transactions
across a number of jurisdictions. In the past five years with
Trinity he has held roles across the financial, ICT and supply
chain disciplines, and most recently the role of Chief Financial
Officer of Trinity since January 2016.
Current directorships Previous directorships
(past five years)
Trinity Exploration & Production None
(Barbados) Limited
Trinity Exploration and
Production (Trinidad and
Tobago) Limited
Oilbelt Services Limited
Galeota Oilfield Services
Limited
Trinity Exploration and
Production (Galeota) Limited
Tabaquite Exploration &
Production Company Limited
Trinity Exploration and
Production (GOP) Limited
Trinity Exploration and
Production (GOP-1) Limited
Trinity Exploration and
Production Services Limited
Ligo Ven Resources Limited
Mr Bridglalsingh subscribed for 80,000 Placing Shares at the
Placing Price as part of the Fundraising. Following completion of
the Fundraising, Mr Bridglalsingh's aggregate holding is 80,000 New
Ordinary Shares representing approximately 0.03 per cent. of the
enlarged issued ordinary share capital of the Company.
David Alexander Segel, (Aged 52) - Non-Executive Director
David Segel is the Founding Partner of the Mako Group (est.
1999), a London based financial services business, and currently
serves as the Mako Group's Chairman. He also operates a portfolio
of businesses in media and technology. He co-founded Mpower
Pictures, LLC in 2006, which is an independent motion picture
production company. He co-founded The Video Genome Project (The
VGP) in 2013, a video metadata insights business that analyses the
actual content of movies and television content. The VGP was
acquired by Hulu in 2016. Mr Segel has been on the Board of Alpha
USA and Alpha International since 2004 and he has served on the
Advisory Board of the Yale Divinity School since 2011. He attended
Yale University and earned a B.A. in Physics and Philosophy in
1986.
It is expected that Mr Segel will be a member of the Company's
Audit Committee and Remuneration Committee.
Current directorships Previous directorships
(past five years)
Mako Europe Ltd None
Mako Computer Systems Ltd
Mako Global Derivatives
Partnership LLP
Mako Cayman Holding
Mako Arbitrage Limited
Alpha International (UK
Registered Charity)
Alpha USA (501c3 Organisation)
Arrabon Management Services
LLC (doing business as
SGL)
MPower Pictures LLC
Structured Data Intelligence
LLC
Eastern Congo Initiative
(501c3 Organisation)
The David and Christina Segel Living Trust (of which Mr Segel is
an associate) subscribed for 22,657,015 Placing Shares at the
Placing Price and US$583,937 for Convertible Loan Notes in the
Fundraising. Following completion of the Fundraising, the David and
Christina Segel Living Trust's aggregate holding is 33,917,256 New
Ordinary Shares representing approximately 12.0 per cent. of the
enlarged issued ordinary share capital of the Company.
Angus Christian Winther, (Aged 49) - Non-Executive Director
Angus Winther has spent 27 years working in the investment
banking industry, primarily advising clients in the insurance and
financial services industries. He started his career with Chase
Manhattan Bank, before becoming the youngest partner at Phoenix
Securities, an independent investment banking firm which was
subsequently acquired by Donaldson, Lufkin and Jenrette. He
co-founded Lexicon Partners, a London based investment banking
advisory firm, in 2000 and was closely involved in the leadership
of that firm until it was acquired by Evercore in 2011. He served
as a senior adviser at Evercore until October 2016, when he left
the firm to pursue other interests. He is a non-executive director
of Hiscox Syndicates Limited (a Lloyd's managing agent) and of the
Mako Group (a London based financial services business), a member
of the advisory board of Haggie Partners LLP (a financial
communications firm), and a trustee of several charities. He has a
degree in Politics from Durham University.
It is expected that Mr Winther will be a member of the Company's
Audit Committee and Remuneration Committee.
Current directorships Previous directorships
(past five years)
Hiscox Syndicates Ltd Court Farms (Billingshurst)
Mako Europe Ltd Ltd
Mako Financial Markets Evercore Partners International
Partnership LLP LLP
Mako Global Derivatives Kings School Bruton
Partnership LLP Foundation
Mako Fixed Income Partnership
LLP
Mako Global Investors LLP
St Paul's Theological Centre
The Hope Classic Rally
Ltd
WeSeeHope Ltd
Mr Winther subscribed for 22,657,015 Placing Shares at the
Placing Price and US$583,937 for Convertible Loan Notes in the
Fundraising. Following completion of the Fundraising, Mr Winther's
aggregate holding is 22,657,015 New Ordinary Shares representing
approximately 8.0 per cent. of the enlarged issued ordinary share
capital of the Company.
Bruce A. I. Dingwall CBE, Executive Chairman of Trinity,
commented:
"I am delighted to welcome Jeremy, David and Angus to the Board,
each of whom brings a strong and complementary background and
skillset. We look forward both to working with them to realise the
full potential of Trinity's assets and in assisting the Company in
the next phase of its growth strategy."
Following these changes the Board of Directors of Trinity
Exploration & Production plc will be composed of: Bruce
Dingwall, Executive Chairman, Jeremy Bridglalsingh, Chief Financial
Officer and Executive Director, Jonathan Murphy, Non-executive
Director, David Segel, Non-executive Director and Angus Winther,
Non-executive Director.
Save as disclosed, there are no other disclosures required in
relation to Rule 17 or paragraph (g) of Schedule 2 of the AIM Rules
for Companies.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
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.
END
This information is provided by RNS
The company news service from the London Stock Exchange
END
BOAOKKDBBBKBNDD
(END) Dow Jones Newswires
January 11, 2017 03:10 ET (08:10 GMT)