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TransGlobe Energy Corporation Announces Director/PDMR Shareholdings

CALGARY, Alberta, April 23, 2019 (GLOBE NEWSWIRE) -- TransGlobe Energy Corporation (“TransGlobe” or the “Company”) (AIM & TSX: “TGL” & NASDAQ: “TGA”) announces that on April 18, 2019, Robert Jennings, Susan MacKenzie, David Cook, Matt Brister, and Steven Sinclair all Independent Directors received Deferred Share Units (“DSUs”) as a result of the Company having declared a dividend:  

Director Number of
DSUs granted
Price
Granted
($Cdn)
Number of DSUs held
following the
transaction
% of Company's
issued share
capital held
Robert Jennings 3,112 $2.49 168,544 DSUs are settled
in cash and have
no effect on share
capital
Susan MacKenzie 2,243 $2.49 121,509
David Cook 3,878 $2.49 210,052
Matt Brister 998 $2.49 54,045
Steven Sinclair 998 $2.49 54,045

As well the Company announces that on April 18, 2019, Randy Neely (President and Chief Executive Officer), Lloyd Herrick (Executive Vice President) and Edward Ok (Vice President Finance & CFO), 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 April 18, 2019 Geoffrey Probert (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 April 18, 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.

PDMR Position Type Quantity
Awarded
Exercise
Price/Price of
Grant ($Cdn)
Number Held
Following
Grant
Randy Neely President and Chief
Executive Officer
PSU 7,881 $2.49 426,873
RSU 419 $2.49 22,691
Lloyd Herrick Executive Vice
President
PSU 8,453 $2.49 457,861
RSU 625 $2.49 33,864
Edward Ok Vice President
Finance and Chief
PSU 2,937 $2.49 159,103
  Financial Officer RSU 385 $2.49 20,872
           
           
PDMR Position Type Quantity
Awarded
Exercise
Price/Price of
Grant ($Cdn)
Number Held
Following
Grant
Geoffrey Probert Vice President and
Chief Operating
Officer
PSU 1,446 $2.49 78,314


DIRECTOR Position Type Quantity
Awarded
Exercise
Price/Price of
Grant ($Cdn)
Number Held
Following
Grant
Ross Clarkson Non-Independent
Director
PSU 7,954 $2.49 430,813
RSU 788 $2.49 42,707

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
Robert Jennings Susan MacKenzie David Cook
  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 due to dividend
Grant of Deferred Share
Units due to dividend
Grant of Deferred Share
Units due to dividend
       d)  Price(s) and volume(s) Price: Cdn $2.49
Volume: 3,112
Price: Cdn $2.49
Volume: 2,243
Price: Cdn $2.49
Volume: 3,878
       e)  Aggregated information:
          i) Price
          ii) Volume
Price: $2.49 Cdn per DSU
Volume: 3,112 DSUs
Price: $2.49 Cdn per DSU
Volume: 2,243 DSUs
Price: $2.49 Cdn per DSU
Volume: 3,878 DSUs
       f)  Date of the transaction April 18, 2019 April 18, 2019 April 18, 2019
       g)  Place of Transaction Outside a trading venue Outside a trading venue Outside a trading venue


  1)  Details of PDMR
       a) Name
Matt Brister Steven Sinclair
  2)  Reason for the notification
       a)  Position / status
Director Director
       b)  Initial notification / amendment Initial notification Initial notification
  3)  Details of the issuer
       a)  Name
TransGlobe Energy
Corporation
TransGlobe Energy
Corporation
       b)  Legal Entity Identifier 549300QMNS6BDY8UUB03 549300QMNS6BDY8UUB03
  4)  Details of transaction
       a)  Description of financial instrument
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
       c)  Nature of the transaction Grant of Deferred Share
Units due to dividend
Grant of Deferred Share
Units due to dividend
       d)  Price(s) and volume(s) Price: Cdn $2.49
Volume: 998
Price: Cdn $2.49
Volume: 998
       e)  Aggregated information:
          i) Price
          ii) Volume
Price: $2.49 Cdn per DSU
Volume: 998 DSUs
Price: $2.49 Cdn per DSU
Volume: 998 DSUs
       f)  Date of the transaction April 18, 2019 April 18, 2019
       g)  Place of Transaction Outside a trading venue Outside a trading venue


  1)  Details of PDMR
       a)  Name
Randy Neely Lloyd Herrick Edward Ok
  2)  Reason for the notification
       a)  Position / status
President and Chief
Executive Officer
Executive Vice President Vice President Finance
and Chief Financial 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 due to
dividend
Grant of PSUs due to
dividend
Grant of PSUs due to
dividend
       d)  Price(s) and volume(s) Price: Cdn $2.49
Volume: 7,881
Price: Cdn $2.49
Volume: 8,453
Price: Cdn $2.49
Volume: 2,937
       e)  Aggregated information:
          i) Price
          ii) Volume
Price: $2.49 Cdn per PSU
Volume: 7,881 PSUs
Price: $2.49 Cdn per PSU
Volume: 8,453 PSUs
Price: $2.49 Cdn per PSU
Volume: 2,937 PSUs
       f)  Date of the transaction April 18, 2019 April 18, 2019 April 18, 2019
       g)  Place of Transaction Outside a trading venue Outside a trading venue Outside a trading venue


  1)  Details of PDMR
       a)  Name
Geoffrey Probert Ross Clarkson
  2)  Reason for the notification
       a)  Position / status
Vice President and Chief
Operating Officer
Non-Independent Director
       b)  Initial notification / amendment Initial notification Initial notification
  3)  Details of the issuer
       a)  Name
TransGlobe Energy
Corporation
TransGlobe Energy
Corporation
       b)  Legal Entity Identifier 549300QMNS6BDY8UUB03 549300QMNS6BDY8UUB03
  4)  Details of transaction
       a)  Description of financial instrument
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
       c)  Nature of the transaction Grant of PSUs due to
dividend
Grant of PSUs due to
dividend
       d)  Price(s) and volume(s) Price: Cdn $2.49
Volume: 1,446
Price: Cdn $2.49
Volume: 7,954
       e)  Aggregated information:
          i) Price
          ii) Volume
Price: $2.49 Cdn per PSU
Volume: 1,446 PSUs
Price: $2.49 Cdn per PSU
Volume: 7,954 PSUs
       f)  Date of the transaction April 18, 2019 April 18, 2019
       g)  Place of Transaction Outside a trading venue Outside a trading venue


  1)  Details of PDMR
       a)  Name
Randy Neely Lloyd Herrick Edward Ok
  2)  Reason for the notification
       a)  Position / status
President and Chief
Executive Officer
Executive Vice President Vice President Finance
and Chief Financial 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
Restricted Share Units Restricted Share Units Restricted 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 RSUs due to
dividend
Grant of RSUs due to
dividend
Grant of RSUs due to
dividend
       d)  Price(s) and volume(s) Price: Cdn $2.49
Volume: 419
Price: Cdn $2.49
Volume: 625
Price: Cdn $2.49
Volume: 385
       e)  Aggregated information:
          i) Price
          ii )Volume
Price: $2.49 Cdn per RSU
Volume: 419 RSUs
Price: $2.49 Cdn per RSU
Volume: 625 RSUs
Price: $2.49 Cdn per RSU
Volume: 385 RSUs
       f)  Date of the transaction April 18, 2019 April 18, 2019 April 18, 2019
       g)  Place of Transaction Outside a trading venue Outside a trading venue Outside 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 / amendment Initial notification
  3)  Details of the issuer
       a)  Name
TransGlobe Energy Corporation
       b)  Legal Entity Identifier 549300QMNS6BDY8UUB03
  4)  Details of transaction
       a)  Description of financial instrument
Restricted Share Units
       b)  Identification code ISIN for TransGlobe Energy
Corporation Ordinary Shares:
CA8936621066
       c)  Nature of the transaction Grant of RSUs due to
dividend
       d)  Price(s) and volume(s) Price: Cdn $2.49
Volume: 788
       e)  Aggregated information:
          i) Price
          ii) Volume
Price: $2.49 Cdn per RSU
Volume: 788 RSUs
       f)  Date of the transaction April 18, 2019
       g)  Place of Transaction 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:

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, 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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