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TransGlobe Energy Corporation Announces an Update to Its Significant Shareholders

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·8 min read
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AIM & TSX: “TGL” & NASDAQ: “TGA”

CALGARY, Alberta, Feb. 19, 2021 (GLOBE NEWSWIRE) -- TransGlobe Energy Corporation ("TransGlobe" or the “Company”) understands that as of December 31, 2020, Invesco Ltd., through various funds, individuals and/or institutional clients of the foregoing, beneficially own an aggregate interest in 6,502,037 common shares of the Company, which represents approximately 9.0% of the issued and outstanding common shares of the Company.

The above information is based on the Company’s understanding of Invesco Ltd.’s most recent 13G Securities and Exchange Commission filing, dated 12 February 2021.

TR-1: Standard form for notification of major holdings

NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer)


1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:

TransGlobe Energy Corporation

1b. Please indicate if the issuer is a non-UK issuer (please mark with an “X” if appropriate)

Non-UK issuer

x

2. Reason for the notification (please mark the appropriate box or boxes with an “X”)

An acquisition or disposal of voting rights

x

An acquisition or disposal of financial instruments

An event changing the breakdown of voting rights

Other (please specify): Total number of voting rights of issuer changed as a result of completion of tender offer.

3. Details of person subject to the notification obligation

Name

Invesco Ltd.

City and country of registered office (if applicable)

Bermuda

4. Full name of shareholder(s) (if different from 3.)

Name

City and country of registered office (if applicable)

5. Date on which the threshold was crossed or reached:

31 December 2020

6. Date on which issuer notified (DD/MM/YYYY):

17 February 2021

7. Total positions of person(s) subject to the notification obligation

% of voting rights attached to shares (total of 8. A)

% of voting rights through financial instruments (total of 8.B 1 + 8.B 2)

Total of both in % (8.A + 8.B)

Total number of voting rights of issuer

Resulting situation on the date on which threshold was crossed or reached

9.0

%

0

%

9.0

%

72,542,071

Position of previous notification (if
applicable)

8.8

%

8.8

%


8. Notified details of the resulting situation on the date on which the threshold was crossed or reached

A: Voting rights attached to shares

Class/type of
shares
ISIN code (if possible)

Number of voting rights

% of voting rights

Direct
(Art 9 of Directive 2004/109/EC) (DTR5.1)

Indirect
(Art 10 of Directive 2004/109/EC) (DTR5.2.1)

Direct
(Art 9 of Directive 2004/109/EC) (DTR5.1)

Indirect
(Art 10 of Directive 2004/109/EC) (DTR5.2.1)

CA8936621066

-

6,502,037

-

9.0

%

SUBTOTAL 8. A

6,502,037

9.0%


B 1: Financial Instruments according to Art. 13(1)(a) of Directive 2004/109/EC (DTR5.3.1.1 (a))

Type of financial instrument

Expiration
date

Exercise/
Conversion Period

Number of voting rights that may be acquired if the instrument is
exercised/converted.

% of voting rights

SUBTOTAL 8. B 1


B 2: Financial Instruments with similar economic effect according to Art. 13(1)(b) of Directive 2004/109/EC (DTR5.3.1.1 (b))

Type of financial instrument

Expiration
date

Exercise/
Conversion Period

Physical or cash
settlement

Number of voting rights

% of voting rights

SUBTOTAL 8.B.2


9. Information in relation to the person subject to the notification obligation (please mark the
applicable box with an “X”)

Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer

Full chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held starting with the ultimate controlling natural person or legal entity (please add additional rows as necessary)

X

Name

% of voting rights if it equals or is higher than the notifiable threshold

% of voting rights through financial instruments if it equals or is higher than the notifiable threshold

Total of both if it equals or is higher than the notifiable threshold

Invesco Ltd.

9.0

%

9.0

%


10. In case of proxy voting, please identify:

Name of the proxy holder

The number and % of voting rights held

The date until which the voting rights will be held


11. Additional information


Place of
completion

1555 Peachtree Street NE, Suite 1800, Atlanta, GA, USA

Date of
completion

12 February 2021

The Company understands that as of December 31, 2020, BLR Partners LP, through various funds, individuals and/or institutional clients of the foregoing, beneficially own an aggregate interest in 750,002 common shares of the Company, which represents approximately 1.0% of the issued and outstanding common shares of the Company.

The above information is based on the Company’s understanding of BLR Partners LP’s most recent 13F Securities and Exchange Commission filing, dated 16 February 2021.

TR-1: Standard form for notification of major holdings

NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer)


1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:

TransGlobe Energy Corporation

1b. Please indicate if the issuer is a non-UK issuer (please mark with an “X” if appropriate)

Non-UK issuer

x

2. Reason for the notification (please mark the appropriate box or boxes with an “X”)

An acquisition or disposal of voting rights

x

An acquisition or disposal of financial instruments

An event changing the breakdown of voting rights

Other (please specify): Total number of voting rights of issuer changed as a result of completion of tender offer.

3. Details of person subject to the notification obligation

Name

BLR Partners LP

City and country of registered office (if applicable)

Houston, Texas, USA

4. Full name of shareholder(s) (if different from 3.)

Name

City and country of registered office (if applicable)

5. Date on which the threshold was crossed or reached:

31 December 2020

6. Date on which issuer notified (DD/MM/YYYY):

17 February 2021

7. Total positions of person(s) subject to the notification obligation

% of voting rights attached to shares (total of 8. A)

% of voting rights through financial instruments
(total of 8.B 1 + 8.B 2)

Total of both in % (8.A + 8.B)

Total number of voting rights of issuer

Resulting situation on the date on which threshold was crossed or reached

1.0

%

1.0

%

72,542,071

Position of previous notification (if
applicable)

5.0

%

5.0

%



8. Notified details of the resulting situation on the date on which the threshold was crossed or reached

A: Voting rights attached to shares

Class/type of
shares
ISIN code (if possible)

Number of voting rights

% of voting rights

Direct
(Art 9 of Directive 2004/109/EC) (DTR5.1)

Indirect
(Art 10 of Directive 2004/109/EC) (DTR5.2.1)

Direct
(Art 9 of Directive 2004/109/EC) (DTR5.1)

Indirect
(Art 10 of Directive 2004/109/EC) (DTR5.2.1)

CA8936621066

750,002

1.0

%

SUBTOTAL 8. A


B 1: Financial Instruments according to Art. 13(1)(a) of Directive 2004/109/EC (DTR5.3.1.1 (a))

Type of financial instrument

Expiration
date

Exercise/
Conversion Period

Number of voting rights that may be acquired if the instrument is
exercised/converted

% of voting rights

SUBTOTAL 8. B 1


B 2: Financial Instruments with similar economic effect according to Art. 13(1)(b) of Directive 2004/109/EC (DTR5.3.1.1 (b))

Type of financial instrument

Expiration
date

Exercise/
Conversion Period

Physical or cash
settlement

Number of voting rights

% of voting rights

SUBTOTAL 8.B.2


9. Information in relation to the person subject to the notification obligation (please mark the applicable box with an “X”)

Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer

Full chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held starting with the ultimate controlling natural person or legal entity (please add additional rows as necessary)

X

Name

% of voting rights if it equals or is higher than the notifiable threshold

% of voting rights through financial instruments if it equals or is higher than the notifiable threshold

Total of both if it equals or is higher than the notifiable threshold

Bradley L. Radoff

1.0

%

1.0

%

BLR Partners LP

BLRPart, LP

BLRGP Inc.

Fondren Management, LP

FMLP Inc.

The Radoff Family Foundation


10. In case of proxy voting, please identify:

Name of the proxy holder

The number and % of voting rights held

The date until which the voting rights will be held


11. Additional information


Place of
completion

Houston, Texas, USA

Date of
completion

16 February 2021

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 Corporation
Randy Neely, President and CEO
Eddie Ok, CFO

+1 403 264 9888
investor.relations@trans-globe.com
http://www.trans-globe.com
or via Tailwind Associates or
FTI Consulting

Tailwind Associates (Investor Relations)
Darren Engels

+1 403 618 8035
darren@tailwindassociates.ca
http://www.tailwindassociates.ca

FTI Consulting (Financial PR)
Ben Brewerton
Genevieve Ryan

+44(0) 20 3727 1000
transglobeenergy@fticonsulting.com

Canaccord Genuity (Nomad & Joint-Broker)
Henry Fitzgerald-O’Connor
James Asensio

+44(0) 20 7523 8000

Shore Capital (Joint Broker)
Jerry Keen
Toby Gibbs

+44(0) 20 7408 4090