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TransAtlantic Petroleum Announces Final Results of Voting at 2020 Annual General Meeting of Shareholders

HAMILTON, Bermuda, June 08, 2020 (GLOBE NEWSWIRE) -- TransAtlantic Petroleum Ltd. (TNP.TO) (NYSE American: TAT) (the “Company” or “TransAtlantic”) today announced the final results of the voting at its 2020 Annual General Meeting of Shareholders (“Annual Meeting”), which was held on June 5, 2020.

Annual Meeting Final Voting Results

The Company held its Annual Meeting on June 5, 2020 to (i) elect five directors to the board of directors, each to serve for a term of office to expire at the close of the next annual general meeting and to hold office until his successor has been duly elected or appointed (“Proposal 1”), (ii) appoint DMF Sistem Uluslararası Bağımsız Denetim Danışmanlık ve YMM A.Ş. to serve as the Company’s independent registered public accounting firm for the year ending December 31, 2020 and to authorize the Company’s audit committee to determine their remuneration (“Proposal 2”), and (iii) approve, on an advisory basis, the Company’s executive compensation (“Proposal 3”). For more information about the foregoing proposals, see the Company’s definitive proxy statement, filed with the Securities and Exchange Commission (the “SEC”) on April 20, 2020.

The table below shows the final results of the voting at the Annual Meeting:

  For Against Abstain Broker Non-Votes
Proposal 1        
N. Malone Mitchell 3rd 39,831,556 1,536,031 19,168 8,140,797
Charles J. Campise 39,635,575 1,732,311 18,869 8,140,797
K. Kirk Krist 39,759,399 1,608,346 19,010 8,140,797
H. Lee Muncy 39,907,911 1,459,998 18,846 8,140,797
Gregory K. Renwick 37,259,506 4,108,425 18,824 8,140,797
         
Proposal 2 46,777,499 2,697,254 52,799
         
Proposal 3 40,321,399 1,016,529 48,827 8,140,797

Audio Recording of Annual Meeting

An audio recording of the Annual Meeting has been uploaded and is available on the Company’s website at www.transatlanticpetroleum.com. To access the audio recording, click on “Investors”, select “Events and Presentations”, and click on “Listen” under the event listing.

About TransAtlantic

The Company is an international oil and natural gas company engaged in the acquisition, exploration, development, and production of oil and natural gas. The Company holds interests in developed and undeveloped properties in Turkey and Bulgaria.

(NO STOCK EXCHANGE, SECURITIES COMMISSION, OR OTHER REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE INFORMATION CONTAINED HEREIN.)

Forward-Looking Statements

This news release contains statements concerning the Company’s expectations, plans, goals, objectives, assumptions, and information about future events, conditions, results of operations, and performance that may constitute forward-looking statements or information under applicable securities legislation. Such forward-looking statements or information are based on a number of assumptions, which may prove to be incorrect.

Although the Company believes that the expectations reflected in such forward-looking statements or information are reasonable, undue reliance should not be placed on forward-looking statements because the Company can give no assurance that such expectations will prove to be correct. Forward-looking statements or information are based on current expectations, estimates, and projections that involve a number of risks and uncertainties, which could cause actual results to differ materially from those anticipated by the Company and described in the forward-looking statements or information. These risks and uncertainties include, but are not limited to, the Company’s ability to continue as a going concern; well development results; access to sufficient capital; market prices for natural gas, natural gas liquids, and oil products, including price changes resulting from coronavirus fears as well as oil oversupply concerns; estimates of reserves and economic assumptions; the ability to produce and transport natural gas, natural gas liquids, and oil products, including price changes resulting from coronavirus fears as well as oil oversupply concerns; the results of exploration and development drilling and related activities; the effects of the coronavirus on our operations, demand for oil and natural gas as well as governmental actions in response to the coronavirus; economic conditions in the countries and provinces in which the Company carries on business, especially economic slowdowns; actions by governmental authorities; the unwinding of the Company’s hedges against a decline in the price of oil; receipt of required approvals; increases in taxes; legislative and regulatory initiatives relating to fracture stimulation activities; changes in environmental and other regulations; renegotiations of contracts; political uncertainty, including sanctions, armed conflicts, and actions by insurgent groups; outcomes of litigation; the negotiation and closing of material contracts; and other risks described in the Company’s filings with the SEC.

The forward-looking statements or information contained in this news release are made as of the date hereof, and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events, or otherwise, unless so required by applicable securities laws.

Contacts:                                                

Tabitha Bailey
Vice President, General Counsel, and Corporate Secretary
(214) 265-4708

TransAtlantic Petroleum Ltd.
16803 Dallas Parkway
Addison, Texas 75001
http://www.transatlanticpetroleum.com