Touchstone Exploration (TSE:TXP) has released an update.
Touchstone Exploration Inc. has acknowledged a competing offer by Lease Operators Limited for Trinity Exploration & Production Plc, advising Trinity shareholders to refrain from action at this time. Touchstone highlights that the irrevocable undertakings from Trinity shareholders, representing approximately 38.9% of its share capital, along with a new letter of intent, bind these shareholders to reject the Lease Operators’ scheme, thus jeopardizing its success. Touchstone retains the right to lapse its own offer for Trinity, with a further announcement to be made as appropriate.
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