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.
Director
Number of DSUs granted
Price Granted ($Cdn)
Number of DSUs held following the transaction
% of Company's issued share capital held
David Cook
38,793
$
2.32
244,967
DSUs are settled in cash and have no effect on share capital
Susan MacKenzie
30,172
$
2.32
151,681
Carol Bell
30,172
$
2.32
30,172
Steven Sinclair
30,172
$
2.32
84,217
Ross Clarkson
30,172
$
2.32
30,172
Edward LaFehr
30,172
$
2.32
30,172
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.
PDMR
Position
Type
Quantity Previously Awarded
Quantity Vested
Vesting Price ($Cdn)
Number Held Following Grant
Randy Neely
President and Chief Executive Officer
RSU
22,691
11,344
$
2.38
11,347
Lloyd Herrick
Executive Vice President
RSU
33,864
16,934
$
2.38
16,930
Edward Ok
Vice President Finance and Chief Financial Officer
RSU
20,872
12,543
$
2.38
8,329
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.
Director
Type
Quantity Previously Awarded
Quantity Vested
Vesting Price ($Cdn)
Number Held Following Grant
Ross Clarkson
RSU
42,707
21,356
$
2.38
21,351
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.
Position
Type
Quantity Previous Awarded
Quantity Expired
Price of Grant ($Cdn)
Number Held Following Expiration
Ross Clarkson
Non-Independent Directors
Stock Option
1,680,577
306,000
$
7.26
1,374,577
Randy Neely
President and Chief Executive Officer
Stock Option
1,262,588
162,000
$
7.26
1,100,588
Lloyd Herrick
Executive Vice President
Stock Option
1,573,526
243,000
$
7.26
1,330,526
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
Name
David Cook
Susan MacKenzie
Carol Bell
2) Reason for the notification
Position / status
Director
Director
Director
b. Initial notification / amendment
Initial notification
Initial notification
Initial notification
3) Details of the issuer
Name
TransGlobe Energy Corporation
TransGlobe Energy Corporation
TransGlobe Energy Corporation
b. Legal Entity Identifier
549300QMNS6BDY8UUB03
549300QMNS6BDY8UUB03
549300QMNS6BDY8UUB03
4) Details of transaction
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
Grant of Deferred Share Units
Grant 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:
Price
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 transaction
May 21, 2019
May 21, 2019
May 21, 2019
g. Place of Transaction
Outside a trading venue
Outside a trading venue
Outside a trading venue
1) Details of PDMR
Name
Steven Sinclair
Ross Clarkson
Edward LaFehr
2) Reason for the notification
Position / status
Director
Director
Director
b. Initial notification / amendment
Initial notification
Initial notification
Initial notification
3) Details of the issuer
Name
TransGlobe Energy Corporation
TransGlobe Energy Corporation
TransGlobe Energy Corporation
b. Legal Entity Identifier
549300QMNS6BDY8UUB03
549300QMNS6BDY8UUB03
549300QMNS6BDY8UUB03
4) Details of transaction
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
Grant of Deferred Share Units
Grant 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:
Price
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 transaction
May 21, 2019
May 21, 2019
May 21, 2019
g. Place of Transaction
Outside a trading venue
Outside a trading venue
Outside a trading venue
1) Details of PDMR
Name
Randy Neely
Lloyd Herrick
Edward Ok
2) Reason for the notification
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
Name
TransGlobe Energy Corporation
TransGlobe Energy Corporation
TransGlobe Energy Corporation
b. Legal Entity Identifier
549300QMNS6BDY8UUB03
549300QMNS6BDY8UUB03
549300QMNS6BDY8UUB03
4) Details of transaction
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
Vesting of RSU
Vesting of RSU
Vesting 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:
Price
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 transaction
May 19, 2019
May 19, 2019
May 19, 2019
g. Place of Transaction
Outside a trading venue
Outside a trading venue
Outside a trading venue
1) Details of PDMR
Name
Ross Clarkson
2) Reason for the notification
Position / status
Director
b. Initial notification / amendment
Initial notification
3) Details of the issuer
Name
TransGlobe Energy Corporation
b. Legal Entity Identifier
549300QMNS6BDY8UUB03
4) Details of transaction
Description of financial instrument
Restricted Share Units
b. Identification code
ISIN for TransGlobe Energy Corporation Ordinary Shares: CA8936621066
c. Nature of the transaction
Vesting of RSUs
d. Price(s) and volume(s)
Price: Cdn $2.38 Volume: 21,356
e. Aggregated information:
Price
Volume
Price: $2.38 Cdn per RSU Volume: 21,356 RSUs
f. Date of the transaction
May 19, 2019
g. Place of Transaction
Outside a trading venue
1) Details of PDMR
Name
Ross Clarkson
Randy Neely
Lloyd Herrick
2) Reason for the notification
Position / status
Director
President and Chief Executive Officer
Executive Vice President
b. Initial notification / amendment
Initial notification
Initial notification
Initial notification
3) Details of the issuer
Name
TransGlobe Energy Corporation
TransGlobe Energy Corporation
TransGlobe Energy Corporation
b. Legal Entity Identifier
549300QMNS6BDY8UUB03
549300QMNS6BDY8UUB03
549300QMNS6BDY8UUB03
4) Details of transaction
Description of financial instrument
Stock Option
Stock Option
Stock Option
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
Expiry of Stock Option
Expiry of Stock Option
Expiry 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:
Price
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 transaction
May 19, 2019
May 19, 2019
May 19, 2019
g. Place of Transaction
Outside a trading venue
Outside a trading venue
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: https://www.trans-globe.com
TransGlobe Energy
Via FTI Consulting
Randy Neely, President and Chief Executive Officer
