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

Rhea-AI Summary

TransGlobe Energy Corporation announced the voting results from its Annual General Meeting (AGM) held on May 6, 2021. Key resolutions included fixing the number of directors at six, with all nominees approved. Notably, Carol Bell did not seek re-election and is no longer a director. The company affirmed the appointment of BDO Canada LLP as auditors and received approval for its approach to executive compensation, achieving 87.67% support. TransGlobe focuses on oil and gas exploration primarily in Egypt and Canada, trading under the symbol TGA on NASDAQ.

Positive

• All resolutions approved at the AGM, including the election of directors.
• High approval ratings for executive compensation approach (87.67%).
• Appointment of BDO Canada LLP as auditors for another year confirmed.

Negative

• Carol Bell did not stand for re-election, indicating potential management changes.

AIM & TSX: “TGL” & NASDAQ: “TGA”

CALGARY, Alberta, May 07, 2021 (GLOBE NEWSWIRE) -- 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 6, 2021 and the outcome of the vote:

Description of Matter			Outcome 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 six (6).		Approved		23,440,848 98.50%			356,209 1.50%
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 March 18, 2021 (the "Information Circular"):
	David B. Cook		Approved		17,619,066			6,177,991
					74.04%			25.96%
	Randall C. Neely				21,058,827			2,738,230
					88.49%			11.51%
	Ross G. Clarkson				21,230,289			2,566,768
					89.21%			10.79%
	Edward D. LaFehr				20,927,796			2,869,261
					87.94%			12.06%
	Timothy R. Marchant				20,507,197			3,289,860
					86.18%			13.82%
	Steven W. Sinclair				18,471,577			5,324,480
					77.62%			22.38%
3.	Ordinary resolution appointing BDO Canada LLP, Chartered Accountants, as auditors of TransGlobe for the ensuing year and to authorize the directors of TransGlobe to fix their remuneration as such.		Approved		Show of hands			Show of hands
4.	Advisory resolution accepting the Company's approach to executive compensation, as described in the Information Circular.		Approved		20,862,106 87.67%			2,954,951 12.33%

Carol Bell did not stand for re-election and is no longer a Director of the Company.

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 or FTI Consulting
Tailwind Associates (Investor Relations) Darren Engels	+1 403 618 8035 darren@tailwindassociates.ca http://www.tailwindassociates.ca
FTI Consulting (Financial PR) Ben Brewerton Genevieve Ryan	+44(0) 20 3727 1000 transglobeenergy@fticonsulting.com
Canaccord Genuity (Nomad & Joint-Broker) Henry Fitzgerald-O’Connor James Asensio	+44(0) 20 7523 8000
Shore Capital (Joint Broker) Jerry Keen Toby Gibbs	+44(0) 20 7408 4090

FAQ

What were the key outcomes of the TransGlobe Energy AGM held on May 6, 2021?

All resolutions, including the election of six directors, were approved with significant support.

What percentage of votes supported the executive compensation approach at TransGlobe Energy?

The executive compensation approach received 87.67% approval at the AGM.

Who is no longer a director of TransGlobe Energy after the AGM?

Carol Bell did not stand for re-election and is no longer a director.

What is the stock symbol for TransGlobe Energy?

TransGlobe Energy trades on NASDAQ under the symbol TGA.