TransGlobe Energy Corporation Announces Director/PDMR Shareholdings

Monday, 16. September 2019 08:00

CALGARY, Alberta, Sept. 16, 2019 (GLOBE NEWSWIRE) -- TransGlobe Energy Corporation (AIM & TSX:  “TGL” & NASDAQ:  “TGA”) (“TransGlobe” or the “Company”) announces that on September 13, 2019, David Cook, Carol Bell, Edward LaFehr, Susan MacKenzie, and Steven Sinclair, all Independent Directors, received Deferred Share Units (“DSUs”) as a result of the Company having declared a dividend:  

DirectorNumber of
DSUs granted
Price
Granted
($Cdn)
Number of DSUs held
following the
transaction
% of Company's
issued share
capital held
David Cook6,053$1.90254,898DSUs are settled in cash and have no effect on share capital
Carol Bell734$1.9030,906
Edward LaFehr734$1.9030,906
Susan MacKenzie3,690$1.90155,371
Steven Sinclair2,049$1.9086,266

Also on September 13, 2019, Ross Clarkson (Non-Independent Director) received DSUs as a result of the Company having declared a dividend:

DirectorNumber of
DSUs granted
Price
Granted
($Cdn)
Number of DSUs held
following the
transaction
% of Company's
issued share
capital held
Ross Clarkson734$1.9030,906DSUs are settled in cash and have no effect on share capital

As well the Company announces that on September 13, 2019, Randy Neely (President and Chief Executive Officer), Lloyd Herrick (Executive Vice President) and Edward Ok (Vice President Finance and Chief Financial Officer), all persons discharging managerial responsibilities with the Corporation, received Performance Share Units (“PSUs”) and Restricted Share Units (“RSUs”) as a result of the Company having declared a dividend.  Also on September 13, 2019, Geoff Probert (Vice President and Chief Operating Officer), a person discharging managerial responsibilities with the Corporation, received Performance Share Units (“PSUs”) as a result of the Company having declared a dividend. 

Also on September 13, 2019, Ross Clarkson (Non-Independent Director) received Performance Share Units (“PSUs”) and Restricted Share Units (“RSUs”) as a result of the Company having declared a dividend.  Prior to Mr. Clarkson’s retirement as CEO on December 31, 2018, he was a participant in the Company’s long term incentive plans and as such was the recipient of PSUs and RSUs.

PDMRPositionTypeQuantity AwardedExercise Price/Price of Grant ($Cdn)Number Held Following Grant
Randy NeelyPresident and Chief Executive OfficerPSU7,989$1.90336,417
RSU276$1.9011,623
Lloyd HerrickExecutive Vice PresidentPSU8,454$1.90356,011
RSU412$1.9017,342
Edward OkVice President Finance and Chief Financial OfficerPSU3,563$1.90150,023
RSU203$1.908,532
Geoffrey ProbertVice President and Chief Operating OfficerPSU1,905$1.9080,219


DIRECTORPositionTypeQuantity AwardedExercise Price/Price of Grant ($Cdn)Number Held Following Grant
Ross ClarksonNon-Independent DirectorPSU7,097$1.90298,841
RSU519$1.9021,870

The newly granted share units were granted in accordance with the Deferred Share Unit Plan, Performance Share Unit Plan and the Restricted 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. The DSUs will count towards the respective shareholdings requirements for directors as outlined in the Company’s compensation policy which is voted on by shareholders annually. 

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 CookCarol BellEdward LaFehr
2) Reason for the notification
     a) Position / status
Independent DirectorIndependent DirectorIndependent Director
     b) Initial notification / amendmentInitial notificationInitial notificationInitial notification
3) Details of the issuer
     a) Name
TransGlobe Energy CorporationTransGlobe Energy CorporationTransGlobe Energy Corporation
     b) Legal Entity Identifier549300QMNS6BDY8UUB03549300QMNS6BDY8UUB03549300QMNS6BDY8UUB03
4) Details of transaction
     a) Description of financial instrument
Deferred Share UnitsDeferred Share UnitsDeferred Share Units
     b) Identification codeISIN for TransGlobe Energy Corporation Ordinary Shares: CA8936621066ISIN for TransGlobe Energy Corporation Ordinary Shares: CA8936621066ISIN for TransGlobe Energy Corporation Ordinary Shares: CA8936621066
     c) Nature of the transactionGrant of Deferred Share Units due to dividendGrant of Deferred Share Units due to dividendGrant of Deferred Share Units due to dividend
     d) Price(s) and volume(s)Price: Cdn $1.90
Volume: 6,053
Price: Cdn $1.90
Volume: 734
Price: Cdn $1.90
Volume: 734
     e) Aggregated information:
          i) Price
          ii) Volume
Price: $1.90 Cdn per DSU
Volume: 6,053 DSUs
Price: $1.90 Cdn per DSU
Volume: 734 DSUs
Price: $1.90 Cdn per DSU
Volume: 734 DSUs
     f) Date of the transactionSeptember 13, 2019September 13, 2019September 13, 2019
     g) Place of TransactionOutside a trading venueOutside a trading venueOutside a trading venue


1) Details of PDMR
     a) Name
Susan MacKenzieSteven SinclairRoss Clarkson
2) Reason for the notification
     a) Position / status
Independent DirectorIndependent DirectorNon-Independent Director
     b) Initial notification / amendmentInitial notificationInitial notificationInitial notification
3) Details of the issuer
     a) Name
TransGlobe Energy CorporationTransGlobe Energy CorporationTransGlobe Energy Corporation
     b) Legal Entity Identifier549300QMNS6BDY8UUB03549300QMNS6BDY8UUB03549300QMNS6BDY8UUB03
4) Details of transaction
     a) Description of financial instrument
Deferred Share UnitsDeferred Share UnitsDeferred Share Units
     b) Identification codeISIN for TransGlobe Energy Corporation Ordinary Shares: CA8936621066ISIN for TransGlobe Energy Corporation Ordinary Shares: CA8936621066ISIN for TransGlobe Energy Corporation Ordinary Shares: CA8936621066
     c) Nature of the transactionGrant of Deferred Share Units due to dividendGrant of Deferred Share Units due to dividendGrant of Deferred Share Units due to dividend
     d) Price(s) and volume(s)Price: Cdn $1.90
Volume: 3,690
Price: Cdn $1.90
Volume: 2,049
Price: Cdn $1.90
Volume: 734
     e) Aggregated information:
          i) Price
          ii) Volume
Price: $1.90 Cdn per DSU
Volume: 3,690 DSUs
Price: $1.90 Cdn per DSU
Volume: 2,049 DSUs
Price: $1.90 Cdn per DSU
Volume: 734 DSUs
     f) Date of the transactionSeptember 13, 2019September 13, 2019September 13, 2019
     g) Place of TransactionOutside a trading venueOutside a trading venueOutside a trading venue


1) Details of PDMR
     a) Name
Randy NeelyLloyd HerrickEdward Ok
2) Reason for the notification
     a) Position / status
President and Chief Executive OfficerExecutive Vice PresidentVice President Finance and Chief Financial Officer
     b) Initial notification / amendmentInitial notificationInitial notificationInitial notification
3) Details of the issuer
     a) Name
TransGlobe Energy CorporationTransGlobe Energy CorporationTransGlobe Energy Corporation
     b) Legal Entity Identifier549300QMNS6BDY8UUB03549300QMNS6BDY8UUB03549300QMNS6BDY8UUB03
4) Details of transaction
     a) Description of financial instrument
Performance Share UnitsPerformance Share UnitsPerformance Share Units
     b) Identification codeISIN for TransGlobe Energy Corporation Ordinary Shares: CA8936621066ISIN for TransGlobe Energy Corporation Ordinary Shares: CA8936621066ISIN for TransGlobe Energy Corporation Ordinary Shares: CA8936621066
     c) Nature of the transactionGrant of PSUs due to dividendGrant of PSUs due to dividendGrant of PSUs due to dividend
     d) Price(s) and volume(s)Price: Cdn $1.90
Volume: 7,989
Price: Cdn $1.90
Volume: 8,454
Price: Cdn $1.90
Volume: 3,563
     e) Aggregated information:
          i) Price
          ii) Volume

Price: $ 1.90 Cdn per PSU
Volume:  7,989 PSUs

Price: $1.90 Cdn per PSU
Volume:  8,454 PSUs

Price: $1.90 Cdn per PSU
Volume:  3,563 PSUs
     f) Date of the transactionSeptember 13, 2019September 13, 2019September 13, 2019
     g) Place of TransactionOutside a trading venueOutside a trading venueOutside a trading venue


1) Details of PDMR
     a) Name
Geoffrey ProbertRoss Clarkson 
2) Reason for the notification
     a) Position / status
Vice President and Chief Operating OfficerNon-Independent Director 
     b) Initial notification / amendmentInitial notificationInitial notification 
3) Details of the issuer
     a) Name
TransGlobe Energy CorporationTransGlobe Energy Corporation 
     b) Legal Entity Identifier549300QMNS6BDY8UUB03549300QMNS6BDY8UUB03 
4) Details of transaction
     a) Description of financial instrument
Performance Share UnitsPerformance Share Units 
     b) Identification codeISIN for TransGlobe Energy Corporation Ordinary Shares: CA8936621066ISIN for TransGlobe Energy Corporation Ordinary Shares: CA8936621066 
     c) Nature of the transactionGrant of PSUs due to dividendGrant of PSUs due to dividend 
     d) Price(s) and volume(s)Price: Cdn $1.90
Volume: 1,905
Price: Cdn $1.90
Volume: 7,097
 
     e) Aggregated information:
          i) Price
          ii) Volume
 
Price: $1.90 Cdn per PSU
Volume: 1,905 PSUs
 
Price: $1.90 Cdn per PSU
Volume: 7,097 PSUs
 
     f) Date of the transactionSeptember 13, 2019September 13, 2019 
     g) Place of TransactionOutside a trading venueOutside a trading venue 


1) Details of PDMR
     a) Name
Randy NeelyLloyd HerrickEdward Ok
2) Reason for the notification
     a) Position / status
President and Chief Executive OfficerExecutive Vice PresidentVice President Finance and Chief Financial Officer
     b) Initial notification / amendmentInitial notificationInitial notificationInitial notification
3) Details of the issuer
     a) Name
TransGlobe Energy CorporationTransGlobe Energy CorporationTransGlobe Energy Corporation
     b) Legal Entity Identifier549300QMNS6BDY8UUB03549300QMNS6BDY8UUB03549300QMNS6BDY8UUB03
4) Details of transaction
     a) Description of financial instrument
Restricted Share UnitsRestricted Share UnitsRestricted Share Units
     b) Identification codeISIN for TransGlobe Energy Corporation Ordinary Shares: CA8936621066ISIN for TransGlobe Energy Corporation Ordinary Shares: CA8936621066ISIN for TransGlobe Energy Corporation Ordinary Shares: CA8936621066
     c) Nature of the transactionGrant of RSUs due to dividendGrant of RSUs due to dividendGrant of RSUs due to dividend
     d) Price(s) and volume(s)Price: Cdn $1.90
Volume: 276
Price: Cdn $1.90
Volume: 412
Price: Cdn $1.90
Volume: 203
     e) Aggregated information:
          i) Price
          ii) Volume
 
Price: $1.90 Cdn per RSU
Volume:  276 RSUs
 
Price: $1.90 Cdn per RSU
Volume:  412 RSUs
 
Price: $1.90 Cdn per RSU
Volume: 203 RSUs
     f) Date of the transactionSeptember 13, 2019September 13, 2019September 13, 2019
     g) Place of TransactionOutside a trading venueOutside a trading venueOutside a trading venue


1) Details of PDMR
     a) Name
Ross Clarkson  
2) Reason for the notification
     a) Position / status
Non-Independent Director  
     b) Initial notification / amendmentInitial notification  
3) Details of the issuer
     a) Name
TransGlobe Energy Corporation  
     b) Legal Entity Identifier549300QMNS6BDY8UUB03  
4) Details of transaction
     a) Description of financial instrument
Restricted Share Units  
     b) Identification codeISIN for TransGlobe Energy Corporation Ordinary Shares: CA8936621066  
     c) Nature of the transactionGrant of RSUs due to dividend  
     d) Price(s) and volume(s)Price: Cdn $1.90
Volume: 519
  
     e) Aggregated information:
          i) Price
          ii) Volume
 
Price: $1.90 Cdn per RSU
Volume: 519 RSUs
  
     f) Date of the transactionSeptember 13, 2019  
     g) Place of TransactionOutside 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:

Investor Relations
Telephone: +1 403.264.9888
Email: investor.relations@trans-globe.com
Web site:  http://www.trans-globe.com
  
   
TransGlobe Energy Via FTI Consulting
Randy Neely, President and Chief Executive Officer  
Eddie Ok, Vice President and Chief Financial Officer 
   
Canaccord Genuity  (Nomad & Joint Broker) +44 (0) 20 7523 8000
Henry Fitzgerald-O'Connor  
James Asensio  
   
GMP First Energy (Joint Broker) +44 (0) 20 7448 0200
Jonathan Wright  
   
FTI Consulting (Financial PR) +44 (0) 20 3727 1000
Ben Brewerton transglobeenergy@fticonsulting.com
Genevieve Ryan 
  

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