23 May 2019 07:08
TRANSGLOBE ENERGY CORPORATION ANNOUNCES
DIRECTOR/PDMR SHAREHOLDINGS
AIM & TSX: "TGL" & NASDAQ: "TGA"
Calgary, Alberta, May 23, 2019 - 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 a) Name | David Cook | Susan MacKenzie | Carol Bell |
2) Reason for the notification a) Position / status | Director | Director | 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 | 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: i) Price ii) 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 a) Name | Steven Sinclair | Ross Clarkson | Edward LaFehr |
2) Reason for the notification a) Position / status | Director | Director | 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 | 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: i) Price ii) 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 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 | 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: i) Price ii) 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 a) Name | Ross Clarkson |
2) Reason for the notification a) Position / status | 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 | Vesting of RSUs |
d) Price(s) and volume(s) | Price: Cdn $2.38 Volume: 21,356 |
e) Aggregated information: i) Price ii) 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 a) Name | Ross Clarkson | Randy Neely | Lloyd Herrick |
2) Reason for the notification a) 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 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 | 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: i) Price ii) 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: 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 | transglobeenergy@fticonsulting.com | |
Genevieve Ryan | ||