AIM & TSX: “TGL” & NASDAQ: “TGA”
CALGARY, Alberta, May 26, 2020 (GLOBE NEWSWIRE) -- TransGlobe Energy Corporation (“TransGlobe” or the “Company”) announces that on May 22, 2020, David Cook, Carol Bell, Ross Clarkson, Edward LaFehr, Tim Marchant and Steven Sinclair all Directors of the Company received Deferred Share Units (“DSUs”) as part of the Company’s director compensation program and will count towards their respective shareholding requirements.
| Director | Number of DSUs issued | Price Granted ($Cdn) | Number of DSUs held following the transaction | % of Company's issued share capital held | |
| David Cook | 80,137 | $0.73 | 335,036 | DSUs are settled in cash and have no effect on share capital | |
| Carol Bell | 62,329 | $0.73 | 93,235 | ||
| Ross Clarkson | 62,329 | $0.73 | 93,235 | ||
| Edward LaFehr | 62,329 | $0.73 | 93,235 | ||
| Tim Marchant | 62,329 | $0.73 | 62,329 | ||
| Steven Sinclair | 62,329 | $0.73 | 148,594 | ||
The DSUs were issued in accordance with the Deferred Share Unit Plan of the Company. No shares will be issued upon retirement or vesting of any of the share units as the instruments are settled in cash.
The Company has also issued stock options (“Options”) on May 22, 2020 to the President and Chief Executive Officer, the Vice President Finance and Chief Financial Officer and the Vice President and Chief Operating Officer (collectively referred to as the “PDMRs”).
The Company has also issued Performance Share Units (“PSUs”) on May 22, 2020 to the PDMRs in accordance with the Performance Share Unit Plan of the Company. No shares will be issued upon exercise or vesting of any of the share units as the instruments are settled in cash.
| PDMR | Position | Type | Quantity Awarded | Exercise Price/Price of Grant ($Cdn) | Number Held Following Grant | |
| Randy Neely | President and Chief Executive Officer | Option | 315,696 | $0.79 | 1,254,284 | |
| PSU | 402,188 | $0.73 | 738,605 | |||
| Edward Ok | Vice President Finance and Chief Financial Officer | Option | 157,258 | $0.79 | 422,524 | |
| PSU | 200,342 | $0.73 | 350,365 | |||
| Geoffrey Probert | Vice President and Chief Operating Officer | Option | 188,710 | $0.79 | 350,508 | |
| PSU | 240,411 | $0.73 | 320,630 | |||
The notifications set out below are provided in accordance with the requirements of the EU Market Abuse Regulation.
Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014
| 1) Details of PDMR a) Name | David Cook | Carol Bell | Ross Clarkson |
| 2) Reason for the notification a) Position / status | Director | Director | Director |
| b) Initial notification / amendment | Initial notification | Initial notification | Initial notification |
| 3) Details of the issuer a) Name | TransGlobe Energy Corporation | TransGlobe Energy Corporation | TransGlobe Energy Corporation |
| b) Legal Entity Identifier | 549300QMNS6BDY8UUB03 | 549300QMNS6BDY8UUB03 | 549300QMNS6BDY8UUB03 |
| 4) Details of transaction a) Description of financial instrument | Deferred Share Units | Deferred Share Units | Deferred Share Units |
| b) Identification code | ISIN for TransGlobe Energy Corporation Ordinary Shares: CA8936621066 | ISIN for TransGlobe Energy Corporation Ordinary Shares: CA8936621066 | ISIN for TransGlobe Energy Corporation Ordinary Shares: CA8936621066 |
| c) Nature of the transaction | Grant of Deferred Share Units | Grant of Deferred Share Units | Grant of Deferred Share Units |
| d) Price(s) and volume(s) | Price: Cdn $0.73 Volume: 80,137 | Price: Cdn $0.73 Volume: 62,329 | Price: Cdn $0.73 Volume: 62,329 |
| e) Aggregated information: i) Price ii) Volume | Price: $0.73 Cdn per DSU Volume: 80,137 DSUs | Price: $0.73 Cdn per DSU Volume: 62,329 DSUs | Price: $0.73 Cdn per DSU Volume: 62,329 DSUs |
| f) Date of the transaction | May 22, 2020 | May 22, 2020 | May 22, 2020 |
| g) Place of Transaction | Outside a trading venue | Outside a trading venue | Outside a trading venue |
| 1) Details of PDMR a) Name | Edward LaFehr | Tim Marchant | Steven Sinclair |
| 2) Reason for the notification a) Position / status | Director | Director | Director |
| b) Initial notification / amendment | Initial notification | Initial notification | Initial notification |
| 3) Details of the issuer a) Name | TransGlobe Energy Corporation | TransGlobe Energy Corporation | TransGlobe Energy Corporation |
| b) Legal Entity Identifier | 549300QMNS6BDY8UUB03 | 549300QMNS6BDY8UUB03 | 549300QMNS6BDY8UUB03 |
| 4) Details of transaction a) Description of financial instrument | Deferred Share Units | Deferred Share Units | Deferred Share Units |
| b) Identification code | ISIN for TransGlobe Energy Corporation Ordinary Shares: CA8936621066 | ISIN for TransGlobe Energy Corporation Ordinary Shares: CA8936621066 | ISIN for TransGlobe Energy Corporation Ordinary Shares: CA8936621066 |
| c) Nature of the transaction | Grant of Deferred Share Units | Grant of Deferred Share Units | Grant of Deferred Share Units |
| d) Price(s) and volume(s) | Price: Cdn $0.73 Volume: 62,329 | Price: Cdn $0.73 Volume: 62,329 | Price: Cdn $0.73 Volume: 62,329 |
| e) Aggregated information: i) Price ii) Volume | Price: $0.73 Cdn per DSU Volume: 62,329 DSUs | Price: $0.73 Cdn per DSU Volume: 62,329 DSUs | Price: $0.73 Cdn per DSU Volume: 62,329 DSUs |
| f) Date of the transaction | May 22, 2020 | May 22, 2020 | May 22, 2020 |
| g) Place of Transaction | Outside a trading venue | Outside a trading venue | Outside a trading venue |
Notification of a Transaction pursuant to Article 19(3) of Regulation (EU) No. 596/2014
| 1) Details of PDMR a) Name | Randy Neely | Edward Ok | Geoffrey Probert |
| 2) Reason for the notification a) Position / status | President and Chief Executive Officer | Vice President Finance and Chief Financial Officer | Vice President and Chief Operating Officer |
| b) Initial notification / amendment | Initial notification | Initial notification | Initial notification |
| 3) Details of the issuer a) Name | TransGlobe Energy Corporation | TransGlobe Energy Corporation | TransGlobe Energy Corporation |
| b) Legal Entity Identifier | 549300QMNS6BDY8UUB03 | 549300QMNS6BDY8UUB03 | 549300QMNS6BDY8UUB03 |
| 4) Details of transaction a) Description of financial instrument | Options | Options | Options |
| b) Identification code | ISIN for TransGlobe Energy Corporation Ordinary Shares: CA8936621066 | ISIN for TransGlobe Energy Corporation Ordinary Shares: CA8936621066 | ISIN for TransGlobe Energy Corporation Ordinary Shares: CA8936621066 |
| c) Nature of the transaction | Grant of Options | Grant of Options | Grant of Options |
| d) Price(s) and volume(s) | Exercise Price: Cdn $0.79 Volume: 315,696 | Exercise Price: Cdn $0.79 Volume: 157,258 | Exercise Price: Cdn $0.79 Volume: 188,710 |
| e) Aggregated information: i) Price ii) Volume | Exercise Price: $0.79 Cdn per Option Volume: 315,696 Options | Exercise Price: $0.79 Cdn per Option Volume: 157,258 Options | Exercise Price: $0.79 Cdn per Option Volume: 188,710 Options |
| f) Date of the transaction | May 22, 2020 | May 22, 2020 | May 22, 2020 |
| g) Place of Transaction | Outside a trading venue | Outside a trading venue | Outside a trading venue |
Notification of a Transaction pursuant to Article 19(3) of Regulation (EU) No. 596/2014
| 1) Details of PDMR a) Name | Randy Neely | Edward Ok | Geoffrey Probert |
| 2) Reason for the notification a) Position / status | President and Chief Executive Officer | Vice President Finance and Chief Financial Officer | Vice President and Chief Operating Officer |
| b) Initial notification / amendment | Initial notification | Initial notification | Initial notification |
| 3) Details of the issuer a) Name | TransGlobe Energy Corporation | TransGlobe Energy Corporation | TransGlobe Energy Corporation |
| b) Legal Entity Identifier | 549300QMNS6BDY8UUB03 | 549300QMNS6BDY8UUB03 | 549300QMNS6BDY8UUB03 |
| 4) Details of transaction a) Description of financial instrument | Performance Share Units | Performance Share Units | Performance Share Units |
| b) Identification code | ISIN for TransGlobe Energy Corporation Ordinary Shares: CA8936621066 | ISIN for TransGlobe Energy Corporation Ordinary Shares: CA8936621066 | ISIN for TransGlobe Energy Corporation Ordinary Shares: CA8936621066 |
| c) Nature of the transaction | Grant of PSUs | Grant of PSUs | Grant of PSUs |
| d) Price(s) and volume(s) | Price: Cdn $0.73 Volume: 402,188 | Price: Cdn $0.73 Volume: 200,342 | Price: Cdn $0.73 Volume: 240,411 |
| e) Aggregated information: i) Price ii) Volume | Price: $0.73 Cdn per PSU Volume: 402,188 PSUs | Price: $0.73 Cdn per PSU Volume: 200,342 PSUs | Price: $0.73 Cdn per PSU Volume: 240,411 PSUs |
| f) Date of the transaction | May 22, 2020 | May 22, 2020 | May 22, 2020 |
| g) Place of Transaction | Outside a trading venue | Outside a trading venue | Outside a trading venue |
About TransGlobe
TransGlobe Energy Corporation is a cash flow focused oil and gas exploration and development company whose current activities are concentrated in the Arab Republic of Egypt and Canada. TransGlobe’s common shares trade on the Toronto Stock Exchange and the AIM market of the London Stock Exchange under the symbol TGL and on the NASDAQ Exchange under the symbol TGA.
| For further information, please contact: | ||
| TransGlobe Energy | Via FTI Consulting | |
| Randy Neely, President and Chief Executive Officer | ||
| Eddie Ok, Chief Financial Officer | ||
| Canaccord Genuity (Nomad & Sole Broker) | +44 (0) 20 7523 8000 | |
| Henry Fitzgerald-O'Connor | ||
| James Asensio | ||
| FTI Consulting (Financial PR) | +44 (0) 20 3727 1000 | |
| Ben Brewerton | transglobeenergy@fticonsulting.com | |
| Genevieve Ryan | ||
| Tailwind Associates (Investor Relations) | ||
| Darren Engels | darren@tailwindassociates.ca http://www.tailwindassociates.ca +1 403.618.8035 investor.relations@trans-globe.com http://www.trans-globe.com +1 403.264.9888 |