TransGlobe Energy Corporation Announces AGM Voting Results and Confirmation of Board Changes

CALGARY, Alberta, May 13, 2019 (GLOBE NEWSWIRE) -- TransGlobe Energy Corporation (“TransGlobe” or the “Company”) (AIM & TSX: “TGL” & NASDAQ: “TGA”) announces its AGM voting results.

Report in Respect of Voting Results Pursuant to Section 11.3 ofNational Instrument 51-102 – Continuous Disclosure Obligations

In respect of the annual general and special meeting (the "Meeting") of the holders of common shares of TransGlobe Energy Corporation ("TransGlobe" or the "Company") held on May 10, 2019 the following sets forth a brief description of each matter voted upon at such Meeting and the outcome of the vote:

Description of MatterOutcome of
Vote
Votes For
(ballots
only)
Votes
Against or
Withheld
(ballots
only)
  1. Ordinary resolution fixing the number of directors of TransGlobe to be elected at the Meeting at seven (7).
Approved37,118,564
97.07%
1,121,210
2.93%
  1. Ordinary resolution electing the following nominees to serve as directors of TransGlobe for the ensuing year, or until their successors are duly elected or appointed, as more particularly described in the information circular of TransGlobe dated March 27, 2019 (the "Information Circular"):
   
David B. CookApproved36,877,742
96.44%
1,362,033
3.56%
   
Steven W. Sinclair36,676,986
95.91%
1,562,789
4.09%
   
Susan M. MacKenzie36,498,755
95.45%
1,741,020
4.55%
   
Carol Bell36,954,360
96.64%
1,285,415
3.36%
   
Ross G. Clarkson37,052,951
96.90%
1,186,824
3.10%
   
Randall C. Neely37,051,798
96.89%
1,187,977
3.11%
   
Edward D. LaFehr37,044,448
96.87%
1,195,327
3.13%
  1. Ordinary resolution appointing Deloitte LLP, Chartered Accountants, as auditors of TransGlobe for the ensuing year and to authorize the directors of TransGlobe to fix their remuneration as such.
ApprovedShow of handsShow of hands
  1. Advisory resolution accepting the Company's approach to executive compensation, as described in the Information Circular.
Approved36,017,563
94.19%
2,222,213
5.81%
  1. Ordinary resolution approving all unallocated options under the Company’s existing stock options plan as described in the Information Circular.
Approved36,583,706
95.67%
1,656,068
4.33%

Mr. Robert Jennings, previous Chairman of the Board of Directors chose not to stand for re-election retiring effective May 9, 2019. Mr. David Cook has been appointed Chairman of the Board of Directors effective May 10, 2019. Following the Meeting, TransGlobe’s Committees of the Board of Directors will be constituted as follows:

R&HSES CommitteeAudit CommitteeCHR&G Committee
Edward LaFehr – ChairSteven Sinclair – ChairCarol Bell – Chair
Susan MacKenzieCarol BellSusan MacKenzie
Ross ClarksonEdward LaFehrSteven Sinclair

For each of the Audit Committee and the CHR&G Committee, all members are Independent Directors of the Company. The majority of Directors on the R&HSES Committee are Independent Directors of the Company and the Chair of the Committee is an Independent Director. No Committees of the Board of Directors have an Executive Officer participating as a member of the Committee.

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 
  

PDF available: http://ml.globenewswire.com/Resource/Download/dcede4d4-6339-4977-911b-aa4c4594554e

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