TransGlobe Energy Corporation Transglobe Announces AGM Voting Results (1992L)

TIDMTGL

RNS Number : 1992L

TransGlobe Energy Corporation

12 May 2022

TRANSGLOBE ENERGY CORPORATION ANNOUNCES AGM VOTING RESULTS

AND CONFIRMATION OF BOARD CHANGES

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

Calgary, Alberta, May 12, 2022 - TransGlobe Energy Corporation ("TransGlobe" or the "Company") announces its AGM voting results.

Report in Respect of Voting Results Pursuant to Section 11.3 of

National Instrument 51-102 - Continuous Disclosure Obligations

The following sets forth a brief description of each matter voted upon at the annual general meeting (the "Meeting") of the holders of common shares of TransGlobe Energy Corporation ("TransGlobe" or the "Company") held on May 11 , 2022 and the outcome of the vote:

 
                                                                           Votes Against 
                                                              Votes For     or Withheld 
                                                  Outcome      (ballots       (ballots 
 Description of Matter                             of Vote       only)         only) 
----------------------------------------------  -----------  -----------  -------------- 
       1. Ordinary resolution fixing 
        the number of directors of TransGlobe 
        to be elected at the Meeting at 
        five (5).                                 Approved    29,545,620      379,496 
                                                                98.73 %        1.27 % 
       2. 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 April 8, 2022 
        (the "Information Circular"): 
       David B. Cook                              Approved    25,225,311     4,699,805 
                                                                84.29 %       15.71 % 
       Randall C. Neely                                       25,602,635     4,322,481 
                                                                85.56 %       14.44 % 
       Jennifer Kaufield                                      25,813,679     4,121,542 
                                                                86.23 %       13.77 % 
       Edward D. LaFehr                                       26,215,266     3,709,850 
                                                                87.60%         12.40% 
       Timothy R. Marchant                                    18,253,841    11,671,275 
                                                                61.00 %       39.00 % 
 3. Ordinary resolution appointing 
  Deloitte LLP, as auditors of TransGlobe 
  for the ensuing year and to authorize 
  the directors of TransGlobe to 
  fix their remuneration as such.                 Approved    40,220,102      265,094 
                                                                99.35%         0.65% 
 
                           Approved                           25,982,656     3,942,459 
                                                                86.83 %       13.17 % 
  4. Advisory resolution accepting 
   the Company's approach to executive 
   compensation, as described in 
   the Information Circular.

Mr. Ross Clarkson, founder and past CEO and President of TransGlobe, decided not to stand for re-election at this year's shareholder meeting. Mr. Clarkson has had a longstanding, positive collaboration with the senior management and the Board of Directors. His decision to not stand was driven by the preliminary voting results of the shareholders at the upcoming AGM.

From Randy Neely, President & CEO, and Director:

"On behalf of the Board and Management, I would like to personally thank Ross for his nearly three decades of strategic leadership and commitment to the organization he founded. Ross was instrumental in stewarding TransGlobe Energy through many challenges and successes with integrity and vision. Under Ross's leadership and guidance, TransGlobe transformed from a start-up exploration company to a 13,000 boed producer with two profitable business units in Egypt and Canada, an unlevered balance sheet and well positioned to participate in stronger commodity prices. Having the founding CEO on the Board of Directors was an invaluable resource for me and Ross's deep expertise, along with his sage advice, will be sorely missed by everyone at TransGlobe."

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 
  John More                                                  +44(0) 20 7408 4090

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