(MENAFN- GlobeNewsWire - Nasdaq) itemprop="articleBody">AIM & TSX: 'TGL' & NASDAQ: 'TGA'
CALGARY, Alberta, May23, 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:
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
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