Touchstone Exploration shareholders have approved all resolutions presented at the company’s 2026 annual and special meeting, including measures linked to its financing structure, share issuance and board composition.
The meeting was attended by 51 shareholders in person or by proxy. They represented 82,383,533 common shares, equal to 25.3 per cent of the shares eligible to vote. This met the company’s quorum requirement and allowed all formal business to proceed.
Shareholders received Touchstone’s audited financial statements for the year ended 31 December 2025, together with the auditor’s report. No questions were raised on the accounts during the meeting.
The number of directors was fixed at seven. Shareholders elected Paul Baay, Bolo Conigrave, Dr Priya Marajh, Kenneth McKinnon, Peter Nicol, Beverley Smith and Stanley Smith to serve until the next annual meeting or until their successors are appointed. The company’s board structure therefore remains in place, supporting continuity as Touchstone moves through its current financing and operational programme.
Ernst & Young LLP was appointed as auditor for the coming year. The board was also authorised to determine the firm’s remuneration.
Shareholders approved the common shares that may be issued under unallocated awards within Touchstone’s omnibus incentive compensation plan. This allows the company to continue using equity-based awards as part of its employee and executive compensation arrangements.
While such plans can create future dilution, they are commonly used to align management incentives with longer-term corporate objectives. The approval gives Touchstone continued flexibility in how it structures remuneration and retains key personnel.
A separate resolution authorised the potential issuance of up to 63,555,276 common shares connected with the company’s August 2025 convertible debenture and related common share purchase warrants.
Shareholders also approved the repayment of a non-convertible debenture held by Pure Bond Limited through the issuance of 89,765,000 common shares. The transaction forms part of Touchstone’s June 2026 integrated financing.
Touchstone Exploration Inc (LON:TXP) is a Canadian-based, international upstream oil and gas company currently active in the Republic of Trinidad and Tobago. Primera Oil and Gas is the Trinidadian subsidiary of Touchstone.
