TransGlobe Energy Corporation Announces Director/PDMR Shareholdings
CALGARY, Alberta, Sept. 16, 2019 (GLOBE NEWSWIRE) -- TransGlobe Energy Corporation (AIM & TSX: “TGL” & NASDAQ: “TGA”) (“TransGlobe” or the “Company”) announces that on September 13, 2019, David Cook, Carol Bell, Edward LaFehr, Susan MacKenzie, 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 | |
| David Cook | 6,053 | $1.90 | 254,898 | DSUs are settled in cash and have no effect on share capital | |
| Carol Bell | 734 | $1.90 | 30,906 | ||
| Edward LaFehr | 734 | $1.90 | 30,906 | ||
| Susan MacKenzie | 3,690 | $1.90 | 155,371 | ||
| Steven Sinclair | 2,049 | $1.90 | 86,266 | ||
Also on September 13, 2019, Ross Clarkson (Non-Independent Director) received DSUs as a result of the Company having declared a dividend:
| Director | Number of DSUs granted | Price Granted ($Cdn) | Number of DSUs held following the transaction | % of Company's issued share capital held | |
| Ross Clarkson | 734 | $1.90 | 30,906 | DSUs are settled in cash and have no effect on share capital | |
As well the Company announces that on September 13, 2019, Randy Neely (President and Chief Executive Officer), Lloyd Herrick (Executive Vice President) and Edward Ok (Vice President Finance and Chief Financial Officer), all persons discharging managerial responsibilities with the Corporation, received Performance Share Units (“PSUs”) and Restricted Share Units (“RSUs”) as a result of the Company having declared a dividend. Also on September 13, 2019, Geoff Probert (Vice President and Chief Operating Officer), a person discharging managerial responsibilities with the Corporation, received Performance Share Units (“PSUs”) as a result of the Company having declared a dividend.
Also on September 13, 2019, Ross Clarkson (Non-Independent Director) received Performance Share Units (“PSUs”) and Restricted Share Units (“RSUs”) as a result of the Company having declared a dividend. Prior to Mr. Clarkson’s retirement as CEO on December 31, 2018, he was a participant in the Company’s long term incentive plans and as such was the recipient of PSUs and RSUs.
| PDMR | Position | Type | Quantity Awarded | Exercise Price/Price of Grant ($Cdn) | Number Held Following Grant | |
| Randy Neely | President and Chief Executive Officer | PSU | 7,989 | $1.90 | 336,417 | |
| RSU | 276 | $1.90 | 11,623 | |||
| Lloyd Herrick | Executive Vice President | PSU | 8,454 | $1.90 | 356,011 | |
| RSU | 412 | $1.90 | 17,342 | |||
| Edward Ok | Vice President Finance and Chief Financial Officer | PSU | 3,563 | $1.90 | 150,023 | |
| RSU | 203 | $1.90 | 8,532 | |||
| Geoffrey Probert | Vice President and Chief Operating Officer | PSU | 1,905 | $1.90 | 80,219 | |
| DIRECTOR | Position | Type | Quantity Awarded | Exercise Price/Price of Grant ($Cdn) | Number Held Following Grant | |
| Ross Clarkson | Non-Independent Director | PSU | 7,097 | $1.90 | 298,841 | |
| RSU | 519 | $1.90 | 21,870 | |||
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 | David Cook | Carol Bell | Edward LaFehr |
| 2) Reason for the notification a) Position / status | Independent Director | Independent Director | Independent 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 $1.90 Volume: 6,053 | Price: Cdn $1.90 Volume: 734 | Price: Cdn $1.90 Volume: 734 |
| e) Aggregated information: i) Price ii) Volume | Price: $1.90 Cdn per DSU Volume: 6,053 DSUs | Price: $1.90 Cdn per DSU Volume: 734 DSUs | Price: $1.90 Cdn per DSU Volume: 734 DSUs |
| f) Date of the transaction | September 13, 2019 | September 13, 2019 | September 13, 2019 |
| g) Place of Transaction | Outside a trading venue | Outside a trading venue | Outside a trading venue |
| 1) Details of PDMR a) Name | Susan MacKenzie | Steven Sinclair | Ross Clarkson |
| 2) Reason for the notification a) Position / status | Independent Director | Independent Director | Non-Independent 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 $1.90 Volume: 3,690 | Price: Cdn $1.90 Volume: 2,049 | Price: Cdn $1.90 Volume: 734 |
| e) Aggregated information: i) Price ii) Volume | Price: $1.90 Cdn per DSU Volume: 3,690 DSUs | Price: $1.90 Cdn per DSU Volume: 2,049 DSUs | Price: $1.90 Cdn per DSU Volume: 734 DSUs |
| f) Date of the transaction | September 13, 2019 | September 13, 2019 | September 13, 2019 |
| g) Place of Transaction | Outside a trading venue | 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 $1.90 Volume: 7,989 | Price: Cdn $1.90 Volume: 8,454 | Price: Cdn $1.90 Volume: 3,563 |
| e) Aggregated information: i) Price ii) Volume | Price: $ 1.90 Cdn per PSU Volume: 7,989 PSUs | Price: $1.90 Cdn per PSU Volume: 8,454 PSUs | Price: $1.90 Cdn per PSU Volume: 3,563 PSUs |
| f) Date of the transaction | September 13, 2019 | September 13, 2019 | September 13, 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 $1.90 Volume: 1,905 | Price: Cdn $1.90 Volume: 7,097 | |
| e) Aggregated information: i) Price ii) Volume | Price: $1.90 Cdn per PSU Volume: 1,905 PSUs | Price: $1.90 Cdn per PSU Volume: 7,097 PSUs | |
| f) Date of the transaction | September 13, 2019 | September 13, 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 $1.90 Volume: 276 | Price: Cdn $1.90 Volume: 412 | Price: Cdn $1.90 Volume: 203 |
| e) Aggregated information: i) Price ii) Volume | Price: $1.90 Cdn per RSU Volume: 276 RSUs | Price: $1.90 Cdn per RSU Volume: 412 RSUs | Price: $1.90 Cdn per RSU Volume: 203 RSUs |
| f) Date of the transaction | September 13, 2019 | September 13, 2019 | September 13, 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 $1.90 Volume: 519 | ||
| e) Aggregated information: i) Price ii) Volume | Price: $1.90 Cdn per RSU Volume: 519 RSUs | ||
| f) Date of the transaction | September 13, 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: Web site: -globe.com | ||
| TransGlobe Energy | Via FTI Consulting | |
| Randy Neely, President and Chief Executive Officer | ||
| Eddie Ok, Vice President and 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 | ||
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