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TransGlobe Energy Corporation Announces Director/PDMR Shareholdings

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AIM & TSX:  "TGL" & NASDAQ:  "TGA"

CALGARY, Alberta, May 26, 2020 (GLOBE NEWSWIRE) -- TransGlobe Energy Corporation ("TransGlobe" or the "Company") announces that on May 22, 2020, David Cook, Carol Bell, Ross Clarkson, Edward LaFehr, Tim Marchant and Steven Sinclair 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 issued Price
Granted
($Cdn)
Number of DSUs held following the transaction % of Company's issued share capital held
David Cook 80,137 $0.73 335,036 DSUs are settled in cash and have no effect on share capital
Carol Bell 62,329 $0.73 93,235
Ross Clarkson 62,329 $0.73 93,235
Edward LaFehr 62,329 $0.73 93,235
Tim Marchant 62,329 $0.73 62,329
Steven Sinclair 62,329 $0.73 148,594

The DSUs were issued in accordance with the Deferred Share Unit Plan of the Company.  No shares will be issued upon retirement or vesting of any of the share units as the instruments are settled in cash.

The Company has also issued stock options ("Options") on May 22, 2020 to the President and Chief Executive Officer, the Vice President Finance and Chief Financial Officer and the Vice President and Chief Operating Officer (collectively referred to as the "PDMRs").

The Company has also issued Performance Share Units ("PSUs") on May 22, 2020 to the PDMRs in accordance with the Performance 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.

PDMR Position Type Quantity Awarded Exercise Price/Price of Grant ($Cdn) Number Held Following Grant
Randy Neely President and Chief Executive Officer Option 315,696 $0.79 1,254,284
PSU 402,188 $0.73 738,605
Edward Ok Vice President Finance and Chief Financial Officer Option 157,258 $0.79 422,524
PSU 200,342 $0.73 350,365
Geoffrey Probert Vice President and Chief Operating Officer Option 188,710 $0.79 350,508
PSU 240,411 $0.73 320,630

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 Ross Clarkson
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 $0.73
Volume: 80,137
Price: Cdn $0.73
Volume: 62,329
Price: Cdn $0.73
Volume: 62,329
      e)  Aggregated information:
          i)  Price
          ii)  Volume
Price: $0.73 Cdn per DSU
Volume: 80,137 DSUs
Price: $0.73 Cdn per DSU
Volume: 62,329 DSUs
Price: $0.73 Cdn per DSU
Volume: 62,329 DSUs
f)  Date of the transaction May 22, 2020 May 22, 2020 May 22, 2020
g)  Place of Transaction Outside a trading venue Outside a trading venue Outside a trading venue


1)  Details of PDMR
      a)  Name
Edward LaFehr Tim Marchant Steven Sinclair
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 $0.73
Volume: 62,329
Price: Cdn $0.73
Volume: 62,329
Price: Cdn $0.73
Volume: 62,329
      e)  Aggregated information:
          i)  Price
          ii)  Volume
Price: $0.73 Cdn per DSU
Volume: 62,329 DSUs
Price: $0.73 Cdn per DSU
Volume: 62,329 DSUs
Price: $0.73 Cdn per DSU
Volume: 62,329 DSUs
f)  Date of the transaction May 22, 2020 May 22, 2020 May 22, 2020
g)  Place of Transaction Outside a trading venue Outside a trading venue Outside a trading venue

Notification of a Transaction pursuant to Article 19(3) of Regulation (EU) No. 596/2014

1)  Details of PDMR
      a)  Name
Randy Neely Edward Ok Geoffrey Probert
2)  Reason for the notification
      a)  Position / status
President and Chief Executive Officer Vice President Finance and Chief Financial Officer Vice President and Chief Operating 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

Options Options Options
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 Options Grant of Options Grant of Options
d)  Price(s) and volume(s) Exercise Price: Cdn $0.79
Volume: 315,696
Exercise Price: Cdn $0.79
Volume: 157,258
Exercise Price: Cdn $0.79
Volume: 188,710
      e)  Aggregated information:
          i)  Price
          ii)  Volume
Exercise Price: $0.79 Cdn per Option
Volume: 315,696 Options
Exercise Price: $0.79 Cdn per Option
Volume: 157,258 Options
Exercise Price: $0.79 Cdn per Option
Volume: 188,710 Options
f)  Date of the transaction May 22, 2020 May 22, 2020 May 22, 2020
g)  Place of Transaction Outside a trading venue Outside a trading venue Outside a trading venue

Notification of a Transaction pursuant to Article 19(3) of Regulation (EU) No. 596/2014

1)  Details of PDMR
      a)  Name
Randy Neely Edward Ok Geoffrey Probert
2)  Reason for the notification
      a)  Position / status
President and Chief Executive Officer Vice President Finance and Chief Financial Officer Vice President and Chief Operating 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 Grant of PSUs Grant of PSUs
d)  Price(s) and volume(s) Price: Cdn $0.73
Volume: 402,188
Price: Cdn $0.73
Volume: 200,342
Price: Cdn $0.73
Volume: 240,411
      e)  Aggregated information:
          i)  Price
          ii)  Volume

Price: $0.73 Cdn per PSU
Volume: 402,188 PSUs

Price: $0.73 Cdn per PSU
Volume: 200,342 PSUs

Price: $0.73 Cdn per PSU
Volume: 240,411 PSUs
f)  Date of the transaction May 22, 2020 May 22, 2020 May 22, 2020
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:

 
   
TransGlobe Energy     Via FTI Consulting
Randy Neely, President and Chief Executive Officer    
Eddie Ok, Chief Financial Officer  
     
Canaccord Genuity  (Nomad & Sole Broker)   +44 (0) 20 7523 8000
Henry Fitzgerald-O'Connor    
James Asensio    
     
FTI Consulting  (Financial PR)   +44 (0) 20 3727 1000
Ben Brewerton   transglobeenergy@fticonsulting.com
Genevieve Ryan  
   
Tailwind Associates  (Investor Relations)    
Darren Engels   darren@tailwindassociates.ca
http://www.tailwindassociates.ca
+1 403.618.8035

investor.relations@trans-globe.com
http://www.trans-globe.com
+1 403.264.9888

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