Touchstone Exploration, an international oil and gas exploration and production company with assets exclusively in Trinidad and Tobago, has announced a retail share offer to UK investors. This opportunity allows individual investors to subscribe for new ordinary shares in the company, running in conjunction with a proposed placing to institutional investors.
The retail offer is being made available through the PrimaryBid platform, a service designed to provide private investors with access to public company share placings. This mechanism aims to broaden participation beyond traditional institutional investors, giving everyday UK savers and investors a chance to invest directly in the company's equity. Investors interested in participating can do so via PrimaryBid's website or through their investment platforms, subject to the terms and conditions of the offer.
Details regarding the price per share and the total amount of new shares to be issued under the retail offer will be determined at the close of the book-building process for the institutional placing. This approach ensures that both retail and institutional investors are offered shares at the same price. The company has stated that the retail offer may be closed at any time, indicating a potentially limited window for participation.
The funds raised from both the retail offer and the institutional placing are intended to support Touchstone Exploration's ongoing operational activities and development programmes in Trinidad and Tobago. The company has been actively developing its onshore assets, including the Coho and Cascadura projects, which are key to its production growth strategy. This fundraising is crucial for maintaining momentum in these projects and for future exploration efforts.
This initiative follows a trend where more companies are seeking to include retail investors in their fundraising efforts, recognising the value of a diversified shareholder base. For UK investors, it represents an opportunity to gain exposure to the energy sector, specifically within an established producer operating in the Caribbean region. Prospective investors should, however, undertake their own due diligence and consider the risks associated with investing in oil and gas exploration and production.
Source: Touchstone Exploration