On 2 August 2024, the boards of directors of Trinity and Lease Operators announced that they had reached agreement on the terms of a recommended cash acquisition for the entire issued, and to be issued, share capital of Trinity by Lease Operators at a price of 68.05 pence per Trinity Share (the "Acquisition"), to be effected by means of a Court-sanctioned scheme of arrangement under Part 26 of the Companies Act 2006 (the "Scheme").
Capitalised terms used but not defined in this announcement have the meanings given to them in the shareholder circular relating to the Scheme published by Trinity on 8 October 2024 (the "Scheme Document"), unless the context requires otherwise.
Trinity and Lease Operators are pleased to provide an update with respect to the Scheme timetable.
The Acquisition remains subject to the satisfaction or waiver (where capable of being waived) of the remaining Conditions to the Acquisition as set out in Part Three of the Scheme Document, including the approval of Trinity Shareholders at the Court Meeting and General Meeting, the Court's sanction of the Scheme at the Court Hearing and the delivery of a copy of the Court Order to the Registrar of Companies.
The expected timetable of principal events for the implementation of the Scheme is set out below. If any change to the key dates and/or times set out in the timetable are made, Trinity will give notice of this change by issuing an announcement through a Regulatory Information Service and such announcement will be made available on Trinity's website at https://trinityexploration.com/investors/.
