TRANSGLOBE ENERGY CORPORATION
PDMR DEALINGS AND ISSUE OF EQUITY
AIM & TSX: "TGL" & NASDAQ: "TGA"
Calgary, Alberta, April 8, 2022 - TransGlobe Energy Corporation ("TransGlobe" or the "Company") announces that further to the April 4, 2022 notification on the option exercises under the Company's Stock Option Plan ("SOP"), the relevant tax analyses have been completed and the resultant number of new shares to be issued to each executive calculated.
As previously disclosed on March 29, 2022: Mr. Geoff Probert, Chief Operating Officer, exercised 258,251 stock options and on March 30, 2022: Mr. Randy Neely, President and Chief Executive Officer, exercised 430,428 stock options under the Company's SOP.
Shares issued to each executive post exercise and settled net of costs and taxes payable are set out below:
| Name | Position | Status | SOP Options Exercised | Shares Retained in Own Name Net of Taxes Payable | Shares Sold |
| Geoff Probert | Vice President and Chief Operating Officer | PDMR | 258,251 | 69,158 | NIL |
| Randy Neely | President and Chief Executive Officer | PDMR | 430,428 | 120,113 | NIL |
Following this transaction, Mr. Probert's and Mr. Neely's total interest in TransGlobe shares is now as follows:
| Name | Shares Held | Shares from SOP | Resultant Total Interest | % of Issued Share Capital |
| Geoff Probert | 77,600 | 69,158 | 146,758 | 0.2% |
| Randy Neely | 346,393 | 120,113 | 466,506 | 0.6% |
In addition to the 189,271 new Common Shares being issued to the above PDMRs, a further 187,167 new Common Shares are being issued to satisfy employee option exercises under the SOP. Accordingly an application will be made for a total of 376,438 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 April 13, 2022.
Following Admission, the total number of voting rights in the Company will be 73,202,673 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 March 29 and March 30, 2022 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 John More | +44(0) 20 7408 4090 |
| 1 | Details of PDMR | |
| a) | Name | Geoff Probert |
| 2 | Reason for the notification |
|
| a) | Position / status | Chief Operating 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 | Issue of shares post option exercise |
| d) | Price(s) and volume(s) | Price ($CDN) Volume |
|
|
| $4.54 69,158 |
| e) | Aggregated information - |
|
|
| Aggregated volume - | 69,158 New Common Shares |
|
| Aggregated price | $4.54 CDN per New Common Share |
| f) | Date of the transaction | March 29 / April 7, 2022 |
| g) | Place of the transaction | Outside a Trading Venue |
| 1 | Details of PDMR | |
| a) | Name | Randy Neely |
| 2 | Reason for the notification |
|
| a) | Position / status | President and Chief Executive Officer |
| b) | Initial notification / amendment | Initial notification |
| 3 | Details of the issuer |
|
| a) | Name | TransGlobe Energy Corporation |
| b) | Legal Entity Identifier | 549300QMNS6BDY8UUB03 |
| 4 | Details of the transaction(s) |
|
| a) | Description of the financial instrument | New Common Shares |
| b) | Identification code | ISIN for TransGlobe Energy Corporation Ordinary Shares: CA8936621066 |
| c) | Nature of the transaction | Issue of shares post option exercise |
| d) | Price(s) and volume(s) | Price ($Cdn) Volume |
|
|
| $4.56 120,113 |
| e) | Aggregated information - |
|
|
| Aggregated volume - | 120,113 New Common Shares |
|
| Aggregated price | $4.56 Cdn per New Common Share |
| f) | Date of the transaction | March 30 / April 7, 2022 |
| g) | Place of the transaction | Outside a Trading Venue |
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