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 Exercised | Shares Retained in Own Name | Shares Sold |
| Randy Neely | President and Chief Executive Officer | PDMR | 420,122 | 96,393 | NIL |
| Eddie Ok | Vice President, Finance, Chief Financial Officer 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 Total Interest | % of Issued 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 Randy Neely, President and CEO Eddie Ok, CFO | +1 403 264 9888 investor.relations@trans-globe.com http://www.trans-globe.com or via Tailwind Associates |
| Tailwind Associates (Investor Relations) Darren Engels | +1 403 618 8035 darren@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 |
|
| a) | Position / status | President and Chief Executive Officer |
| b) | Initial notification / amendment | Initial notification |
| 3 | Details of the issuer |
|
| a) | Name | TransGlobe Energy Corporation |
| b) | Legal Entity Identifier | 549300QMNS6BDY8UUB03 |
| 4 | Details of the transaction(s) |
|
| a) | Description of the financial instrument | New Common Shares |
| b) | Identification code | ISIN for TransGlobe Energy Corporation Ordinary Shares: CA8936621066 |
| c) | Nature of the transaction | Acquisition of Shares |
| d) | Price(s) and volume(s) | Price ($CDN) Volume |
|
|
| $3.77 96,393 |
|
|
|
|
| e) | Aggregated information - |
|
|
| Aggregated volume - | 96,393 New Common Shares |
|
| Aggregated price | $3.77 CDN per New Common Share |
| f) | Date of the transaction | December 27, 2021 |
| g) | Place of the transaction | Outside a Trading Venue |
| 1 | Details of PDMR | |
| a) | Name | Eddie Ok |
| 2 | Reason for the notification |
|
| a) | Position / status | Vice President, Finance, Chief Financial Officer and Corporate Secretary |
| b) | Initial notification / amendment | Initial notification |
| 3 | Details of the issuer |
|
| a) | Name | TransGlobe Energy Corporation |
| b) | Legal Entity Identifier | 549300QMNS6BDY8UUB03 |
| 4 | Details of the transaction(s) |
|
| a) | Description of the financial instrument | New Common Shares |
| b) | Identification code | ISIN for TransGlobe Energy Corporation Ordinary Shares: CA8936621066 |
| c) | Nature of the transaction | Acquisition of Shares |
| d) | Price(s) and volume(s) | Price ($CDN) Volume |
|
|
| $3.77 22,918 |
| e) | Aggregated information - |
|
|
| 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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