Two Trinity Exploration directors signal intent to vote for takeover

11th Oct 2024 11:26

(Sharecast News) - Trinity Exploration confirmed on Friday that two of its directors, Nicholas Clayton and Jeremy Bridglalsingh, were intending to vote in favour of the proposed acquisition of the company by Lease Operators.

The AIM-traded firm said the acquisition was set to proceed through a scheme of arrangement under the Companies Act.

Both directors, who together held 349,463 Trinity shares - approximately 0.9% of the company's issued share capital - would vote in favour of the scheme at the upcoming court meeting and general meeting, the board confirmed.

If the acquisition was instead pursued through a takeover offer, they also planned to accept the offer, subject to regulatory consent.

The announcement followed the publication of the scheme circular to shareholders on 8 October, outlining the details of the acquisition proposal.

At 1049 BST, shares in Trinity Exploration & Production were down 0.22% at 64.36p.

Reporting by Josh White for Sharecast.com.