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TransGlobe Energy Corporation Announces Update to Significant Shareholder

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CALGARY, Alberta, Feb. 14, 2020 (GLOBE NEWSWIRE) -- TransGlobe Energy Corporation ("TransGlobe" or the “Company”) (AIM & TSX: “TGL” & NASDAQ: “TGA”) understands that as of December 31, 2019, Invesco Ltd., through various funds, individuals and/or institutional clients of the foregoing, beneficially own an aggregate interest in 6,354,783 common shares of the Company, which represents approximately 8.8% of the issued and outstanding common shares of the Company.

The above information is based on the Company’s understanding of Invesco Ltd. 13G Securities and Exchange Commission filing, dated 12 February 2020.

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 attachedii:

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)iii: Total number of voting rights of issuer changed as a result of completion of tender offer.

3. Details of person subject to the notification obligationiv

Name

Invesco Ltd.

City and country of registered office (if applicable)

Bermuda

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

Name

City and country of registered office (if applicable)

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

31 December 2019

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

12 February 2020

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 issuervii

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

8.8

%

0

%

8.8

%

72,542,071

Position of previous notification (if
applicable)

7.0

%

7.0

%



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

A: Voting rights attached to shares

Class/type of
shares

ISIN code (if possible)

Number of voting rightsix

% 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

-

6,354,783

-

8.8

%

SUBTOTAL 8. A

6,354,783

8.8%



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
x

Exercise/
Conversion Period
xi

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
x

Exercise/
Conversion Period
xi

Physical or cash
settlementxii

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) issuerxiii

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 entityxiv (please add additional rows as necessary)

X

Namexv

% 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.

8.8%

8.8%

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 informationxvi


Place of completion

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

Date of completion

12 February 2020

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