News

TransGlobe Energy Corporation Announces Director/PDMR Shareholdings

AIM & TSX: "TGL" & NASDAQ: "TGA"

CALGARY, Alberta, May 23, 2019 (GLOBE NEWSWIRE) -- TransGlobe Energy Corporation ("TransGlobe" or the "Company") announces that on May 21, 2019, David Cook, Susan MacKenzie, Carol Bell, Steven Sinclair, Ross Clarkson and Edward LaFehr 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 grantedPrice
Granted
($Cdn)
Number of DSUs held following the transaction% of Company's issued share capital held
David Cook38,793$2.32244,967DSUs are settled in cash and have no effect on share capital
Susan MacKenzie30,172$2.32151,681
Carol Bell30,172$2.3230,172
Steven Sinclair30,172$2.3284,217
Ross Clarkson30,172$2.3230,172
Edward LaFehr30,172$2.3230,172

The DSUs were granted in accordance with the Deferred 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.

On May 19, 2019, Randy Neely (President and Chief Executive Officer), Lloyd Herrick (Executive Vice President), and Edward Ok (Vice President Finance and Chief Financial Officer), all persons discharging managerial responsibilities with the Corporation, had Restricted Share Units ("RSUs") vest. Edward Ok had additional RSUs vest on May 20, 2019. These were previously granted to each individual as part of the Company s Long-Term Incentive Plan.

PDMRPositionTypeQuantity Previously AwardedQuantity VestedVesting Price ($Cdn)Number Held Following Grant
Randy NeelyPresident and Chief Executive OfficerRSU22,69111,344$2.3811,347
Lloyd HerrickExecutive Vice PresidentRSU33,86416,934$2.3816,930
Edward OkVice President Finance and Chief Financial OfficerRSU20,87212,543$2.388,329

Prior to Ross Clarkson s retirement as CEO on December 1, 2018, he was a participant in the Company s Long Term Incentive Plan and as such was the recipient of RSUs.

On May 19, 2019 Ross Clarkson (Non-independent Director) had RSUs vest.

DirectorTypeQuantity Previously AwardedQuantity VestedVesting Price
($Cdn)
Number Held Following Grant
Ross ClarksonRSU42,70721,356$2.3821,351

The vested RSUs were granted in accordance with the Restricted Share Unit Plan.

Also on May 19, 2019 Stock Options previously granted to Ross Clarkson, Randy Neely and Lloyd Herrick on May 20, 2014 have expired.

PositionTypeQuantity Previous AwardedQuantity ExpiredPrice of Grant ($Cdn)Number Held Following Expiration
Ross ClarksonNon-Independent DirectorsStock Option1,680,577306,000$7.261,374,577
Randy NeelyPresident and Chief Executive OfficerStock Option1,262,588162,000$7.261,100,588
Lloyd HerrickExecutive Vice PresidentStock Option1,573,526243,000$7.261,330,526

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
  1. Name
David CookSusan MacKenzieCarol Bell
2) Reason for the notification
  1. Position / status
DirectorDirectorDirector
b. Initial notification / amendmentInitial notificationInitial notificationInitial notification
3) Details of the issuer
  1. Name
TransGlobe Energy CorporationTransGlobe Energy CorporationTransGlobe Energy Corporation
b. Legal Entity Identifier549300QMNS6BDY8UUB03549300QMNS6BDY8UUB03549300QMNS6BDY8UUB03
4) Details of transaction
  1. Description of financial instrument
Deferred Share UnitsDeferred Share UnitsDeferred Share Units
b. Identification codeISIN 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 transactionGrant of Deferred Share UnitsGrant of Deferred Share UnitsGrant of Deferred Share Units
d. Price(s) and volume(s)Price: Cdn $2.32
Volume: 38,793
Price: Cdn $2.32
Volume: 30,172
Price: Cdn $2.32
Volume: 30,172
e. Aggregated information:
  1. Price
  2. Volume
Price: $2.32 Cdn per DSU
Volume: 38,793 DSUs
Price: $2.32 Cdn per DSU
Volume: 30,172 DSUs
Price: $2.32 Cdn per DSU
Volume: 30,172 DSUs
f. Date of the transactionMay 21, 2019May 21, 2019May 21, 2019
g. Place of TransactionOutside a trading venueOutside a trading venueOutside a trading venue


1) Details of PDMR
  1. Name
Steven SinclairRoss ClarksonEdward LaFehr
2) Reason for the notification
  1. Position / status
DirectorDirectorDirector
b. Initial notification / amendmentInitial notificationInitial notificationInitial notification
3) Details of the issuer
  1. Name
TransGlobe Energy CorporationTransGlobe Energy CorporationTransGlobe Energy Corporation
b. Legal Entity Identifier549300QMNS6BDY8UUB03549300QMNS6BDY8UUB03549300QMNS6BDY8UUB03
4) Details of transaction
  1. Description of financial instrument
Deferred Share UnitsDeferred Share UnitsDeferred Share Units
b. Identification codeISIN 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 transactionGrant of Deferred Share UnitsGrant of Deferred Share UnitsGrant of Deferred Share Units
d. Price(s) and volume(s)Price: Cdn $2.32
Volume: 30,172
Price: Cdn $2.32
Volume: 30,172
Price: Cdn $2.32
Volume: 30,172
e. Aggregated information:
  1. Price
  2. Volume
Price: $2.32 Cdn per DSU
Volume: 30,172 DSUs
Price: $2.32 Cdn per DSU
Volume: 30,172 DSUs
Price: $2.32 Cdn per DSU
Volume: 30,172 DSUs
f. Date of the transactionMay 21, 2019May 21, 2019May 21, 2019
g. Place of TransactionOutside a trading venueOutside a trading venueOutside a trading venue


1) Details of PDMR
  1. Name
Randy NeelyLloyd HerrickEdward Ok
2) Reason for the notification
  1. Position / status
President and Chief Executive OfficerExecutive Vice PresidentVice President Finance and Chief Financial Officer
b. Initial notification / amendmentInitial notificationInitial notificationInitial notification
3) Details of the issuer
  1. Name
TransGlobe Energy CorporationTransGlobe Energy CorporationTransGlobe Energy Corporation
b. Legal Entity Identifier549300QMNS6BDY8UUB03549300QMNS6BDY8UUB03549300QMNS6BDY8UUB03
4) Details of transaction
  1. Description of financial instrument
Restricted Share UnitsRestricted Share UnitsRestricted Share Units
b. Identification codeISIN 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 transactionVesting of RSUVesting of RSUVesting of RSU
d. Price(s) and volume(s)Price: Cdn $2.38
Volume: 11,344
Price: Cdn $2.38
Volume: 16,934
Price: Cdn $2.38
Volume: 12,543
e. Aggregated information:
  1. Price
  2. Volume
Price: $2.38 Cdn per RSU
Volume: 11,344 RSUs
Price: $2.38 Cdn per RSU
Volume: 16,934 RSUs
Price: $2.38 Cdn per RSU
Volume: 12,543 RSUs
f. Date of the transactionMay 19, 2019May 19, 2019May 19, 2019
g. Place of TransactionOutside a trading venueOutside a trading venueOutside a trading venue


1) Details of PDMR
  1. Name
Ross Clarkson
2) Reason for the notification
  1. Position / status
Director
b. Initial notification / amendmentInitial notification
3) Details of the issuer
  1. Name
TransGlobe Energy Corporation
b. Legal Entity Identifier549300QMNS6BDY8UUB03
4) Details of transaction
  1. Description of financial instrument
Restricted Share Units
b. Identification codeISIN for TransGlobe Energy Corporation
Ordinary Shares: CA8936621066
c. Nature of the transactionVesting of RSUs
d. Price(s) and volume(s)Price: Cdn $2.38
Volume: 21,356
e. Aggregated information:
  1. Price
  2. Volume


Price: $2.38 Cdn per RSU
Volume: 21,356 RSUs
f. Date of the transactionMay 19, 2019
g. Place of TransactionOutside a trading venue


1) Details of PDMR
  1. Name
Ross ClarksonRandy NeelyLloyd Herrick
2) Reason for the notification
  1. Position / status
DirectorPresident and Chief Executive OfficerExecutive Vice President
b. Initial notification / amendmentInitial notificationInitial notificationInitial notification
3) Details of the issuer
  1. Name
TransGlobe Energy CorporationTransGlobe Energy CorporationTransGlobe Energy Corporation
b. Legal Entity Identifier549300QMNS6BDY8UUB03549300QMNS6BDY8UUB03549300QMNS6BDY8UUB03
4) Details of transaction
  1. Description of financial instrument
Stock OptionStock OptionStock Option
b. Identification codeISIN for TransGlobe Energy Corporation Ordinary Shares: CA8936621066ISIN for TransGlobe Energy
Corporation Ordinary Shares:
CA8936621066
ISIN for TransGlobe Energy
Corporation Ordinary Shares:
CA8936621066
c. Nature of the transactionExpiry of Stock OptionExpiry of Stock OptionExpiry of Stock Option
d. Price(s) and volume(s)Price: Cdn $7.26
Volume: 306,000
Price: Cdn $7.26
Volume: 162,000
Price: Cdn $7.26
Volume: 243,000
e. Aggregated information:
  1. Price
  2. Volume

Price: $7.26 Cdn per Stock Option
Volume: 306,000 Stock Options

Price: $7.26 Cdn per Stock Option
Volume: 162,000 Stock Options

Price: $7.26 Cdn per Stock Option
Volume: 243,000 Stock Options
f. Date of the transactionMay 19, 2019May 19, 2019May 19, 2019
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:

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
Genevieve Ryan transglobeenergy@fticonsulting.com

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The information posted in this section was accurate at the time of posting, but may be superseded by subsequent disclosures.