TransGlobe Energy Corporation Announces Director/PDMR Shareholdings

Tuesday, 26. May 2020 08:00

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.

DirectorNumber of DSUs issuedPrice
Granted
($Cdn)
Number of DSUs held following the transaction% of Company's issued share capital held
David Cook80,137$0.73335,036DSUs are settled in cash and have no effect on share capital
Carol Bell62,329$0.7393,235
Ross Clarkson62,329$0.7393,235
Edward LaFehr62,329$0.7393,235
Tim Marchant62,329$0.7362,329
Steven Sinclair62,329$0.73148,594

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.

PDMRPositionTypeQuantity AwardedExercise Price/Price of Grant ($Cdn)Number Held Following Grant
Randy NeelyPresident and Chief Executive OfficerOption315,696$0.791,254,284
PSU402,188$0.73738,605
Edward OkVice President Finance and Chief Financial OfficerOption157,258$0.79422,524
PSU200,342$0.73350,365
Geoffrey ProbertVice President and Chief Operating OfficerOption188,710$0.79350,508
PSU240,411$0.73320,630

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 CookCarol BellRoss Clarkson
2)  Reason for the notification
      a)  Position / status
DirectorDirectorDirector
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 UnitsGrant of Deferred Share UnitsGrant 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 transactionMay 22, 2020May 22, 2020May 22, 2020
g)  Place of TransactionOutside a trading venueOutside a trading venueOutside a trading venue


1)  Details of PDMR
      a)  Name
Edward LaFehrTim MarchantSteven Sinclair
2)  Reason for the notification
      a)  Position / status
DirectorDirectorDirector
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 UnitsGrant of Deferred Share UnitsGrant 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 transactionMay 22, 2020May 22, 2020May 22, 2020
g)  Place of TransactionOutside a trading venueOutside a trading venueOutside 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 NeelyEdward OkGeoffrey Probert
2)  Reason for the notification
      a)  Position / status
President and Chief Executive OfficerVice President Finance and Chief Financial OfficerVice President and Chief Operating 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

OptionsOptionsOptions
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 OptionsGrant of OptionsGrant 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 transactionMay 22, 2020May 22, 2020May 22, 2020
g)  Place of TransactionOutside a trading venueOutside a trading venueOutside 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 NeelyEdward OkGeoffrey Probert
2)  Reason for the notification
      a)  Position / status
President and Chief Executive OfficerVice President Finance and Chief Financial OfficerVice President and Chief Operating 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 PSUsGrant of PSUsGrant 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 transactionMay 22, 2020May 22, 2020May 22, 2020
g)  Place of TransactionOutside a trading venueOutside a trading venueOutside 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

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Related Links: Transglobe Energy Corp.
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