TIDMTGL

RNS Number : 9956W

TransGlobe Energy Corporation

30 December 2021

TRANSGLOBE ENERGY CORPORATION

EXERCISE OF STOCK OPTIONS - PDMR DEALINGS

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

Calgary, Alberta, December 30, 2021 - TransGlobe Energy Corporation ("TransGlobe" or the "Company") announces that on December 27, 2021 Mr. Randy Neely, President and Chief Executive Officer, exercised 420,122 stock options under the Company's Stock Option Plan ("SOP"). In addition, on December 27, 2021 Mr. Eddie Ok, Vice President, Finance, Chief Financial Officer and Corporate Secretary, exercised 130,435 stock options under the Company's SOP.

 
     Name               Position            Status    SOP Options   Shares Retained   Shares 
                                                       Exercised      in Own Name      Sold 
                   President and Chief 
 Randy Neely        Executive Officer        PDMR       420,122         96,393         NIL 
               --------------------------  --------  ------------  ----------------  ------- 
                Vice President, Finance, 
                 Chief Financial Officer 
   Eddie Ok      and Corporate Secretary     PDMR       130,435         22,918         NIL 
               --------------------------  --------  ------------  ----------------  ------- 
 

The shares issued to each executive upon exercise were settled net of taxes payable. Following this transaction, Mr. Neely's and Mr. Ok's total interest in TransGlobe shares is now as follows:

 
     Name       Shares Held   Shares from SOP      Resultant       % of Issued 
                                                 Total Interest    Share Capital 
 Randy Neely      250,000         96,393            346,393            0.5% 
               ------------  ----------------  ----------------  --------------- 
   Eddie Ok       95,615          22,918            118,533            0.2% 
               ------------  ----------------  ----------------  --------------- 
 

Application will be made for 119,311 New Common Shares, which will rank pari passu with the existing Common Shares, to be admitted to trading on AIM ("Admission"). Admission is expected to occur on January 6, 2022.

Following Admission, the total number of voting rights in the Company will be 72,661,382 Common Shares. This number may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company.

This notification is made under article 19.1 of the Market Abuse Regulation ("MAR") and relates to options exercises by Persons Discharging Managerial Responsibilities ("PDMR") on December 27, 2021 under the Company's SOP.

About TransGlobe

TransGlobe Energy Corporation is a cashflow 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:

 
 TransGlobe Energy Corporation                                   +1 403 264 9888 
  Randy Neely, President and CEO              investor.relations@trans-globe.com 
  Eddie Ok, CFO                                       http://www.trans-globe.com 
                                                      or via Tailwind Associates 
 Tailwind Associates (Investor Relations)                        +1 403 618 8035 
  Darren Engels                                     darren@tailwindassociates.ca 
                                                http://www.tailwindassociates.ca 
 Canaccord Genuity (Nomad & Joint-Broker) 
  Henry Fitzgerald-O'Connor 
  James Asensio                                              +44(0) 20 7523 8000 
 Shore Capital (Joint Broker) 
  Toby Gibbs                                                 +44(0) 20 7408 4090 
 
 
 1       Details of PDMR 
   a)    Name                             Randy Neely 
 2       Reason for the notification 
                                          President and Chief Executive 
   a)    Position / status                 Officer 
         Initial notification 
   b)     / amendment                     Initial notification 
 3       Details of the issuer 
   a)    Name                             TransGlobe Energy Corporation 
   b)    Legal Entity Identifier          549300QMNS6BDY8UUB03 
 4       Details of the transaction(s) 
         Description of the financial 
   a)     instrument                      New Common Shares 
         Identification code              ISIN for TransGlobe Energy Corporation 
   b)                                      Ordinary Shares: CA8936621066 
   c)    Nature of the transaction        Acquisition of Shares 
   d)    Price(s) and volume(s)           Price ($CDN) Volume 
                                           $3.77 96,393 
 
         Aggregated information 
   e)     - 
       Aggregated volume -                96,393 New Common Shares 
       Aggregated price                   $3.77 CDN per New Common Share 
   f)    Date of the transaction          December 27, 2021 
   g)    Place of the transaction         Outside a Trading Venue 
 
 
 1       Details of PDMR 
   a)    Name                             Eddie Ok 
 2       Reason for the notification 
                                          Vice President, Finance, Chief 
                                           Financial Officer and Corporate 
   a)    Position / status                 Secretary 
         Initial notification 
   b)     / amendment                     Initial notification 
 3       Details of the issuer 
   a)    Name                             TransGlobe Energy Corporation 
   b)    Legal Entity Identifier          549300QMNS6BDY8UUB03 
 4       Details of the transaction(s) 
         Description of the financial 
   a)     instrument                      New Common Shares 
         Identification code              ISIN for TransGlobe Energy Corporation 
   b)                                      Ordinary Shares: CA8936621066 
   c)    Nature of the transaction        Acquisition of Shares 
   d)    Price(s) and volume(s)           Price ($CDN) Volume 
                                           $3.77 22,918 
         Aggregated information 
   e)     - 
       Aggregated volume -                22,918 New Common Shares 
       Aggregated price                   $3.77 CDN per New Common Share 
   f)    Date of the transaction          December 27, 2021 
   g)    Place of the transaction         Outside a Trading Venue 
 

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END

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December 30, 2021 01:59 ET (06:59 GMT)

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