AIM & TSX:  “TGL” & NASDAQ:  “TGA”
CALGARY, Alberta, May 14, 2020 (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 ObligationsThe following sets forth a brief description of each matter voted upon at 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 13, 2020 and the outcome of the vote:Following the Meeting, TransGlobe’s Committees of the Board of Directors will be constituted as follows:RHSES: Reserves, Health, Safety, Environment and Social Responsibility Committee
CHR&G: Compensation, Human Resources and Governance CommitteeShareholder OutreachOur Board of Directors and Compensation, Human Resources and Governance Committee is committed to engaging with shareholders and incorporating their feedback into our governance and planning processes.  In advance of the AGM, the Board (Mr. Cook and Dr. Bell) reached out to several of the Company’s largest shareholders to discuss key elements of Board governance, including strategy and compensation.  The Board is very grateful to the institutions that agreed to speak with them and for the valuable and constructive feedback received during these conversations which informed the Board’s discussions over long-term incentive grants. The Board has agreed to decrease the level of these grants for 2020, both to the Executive and Board members, by 35%.  This decrease is in addition to the previously announced voluntary reduction of both Executive salaries and Director retainers.  The Company remains committed to being transparent with and accountable to our investors and look forward to further engagement with shareholders. Dr. Carol Bell or Mr. David Cook can be reached at [email protected].Director RetirementMs. Susan MacKenzie chose not to stand for re-election, retiring effective May 12, 2020.  The Board and the Executive wish to thank Ms. MacKenzie for her invaluable service over the past six years and wish her the best in her future pursuits.  About TransGlobeTransGlobe 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.            

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