TransGlobe Energy Corporation Announces Update to Significant Shareholder

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CALGARY, Alberta, Feb. 14, 2020 — TransGlobe Energy Corporation (“TransGlobe” or the “Company”) (AIM & TSX: “TGL” & NASDAQ: “TGA”) understands that as of December 31, 2019, Invesco Ltd., through various funds, individuals and/or institutional clients of the foregoing, beneficially own an aggregate interest in 6,354,783 common shares of the Company, which represents approximately 8.8% of the issued and outstanding common shares of the Company.

The above information is based on the Company’s understanding of Invesco Ltd. 13G Securities and Exchange Commission filing, dated 12 February 2020.

TR-1: Standard form for notification of major holdings

NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer)
 
1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attachedii:TransGlobe Energy Corporation
1b. Please indicate if the issuer is a non-UK issuer  (please mark with an “X” if appropriate)
Non-UK issuerx
2. Reason for the notification (please mark the appropriate box or boxes with an “X”)
An acquisition or disposal of voting rightsx
An acquisition or disposal of financial instruments 
An event changing the breakdown of voting rights 
Other (please specify)iii: Total number of voting rights of issuer changed as a result of completion of tender offer. 
3. Details of person subject to the notification obligationiv
NameInvesco Ltd.
City and country of registered office (if applicable)Bermuda
4. Full name of shareholder(s) (if different from 3.)v
Name 
City and country of registered office (if applicable) 
5. Date on which the threshold was crossed or reachedvi:31 December 2019
6. Date on which issuer notified (DD/MM/YYYY):12 February 2020
7. Total positions of person(s) subject to the notification obligation
 % of voting rights attached to shares (total of 8. A)% of voting rights through financial instruments (total of 8.B 1 + 8.B 2)Total of both in % (8.A + 8.B)Total number of voting rights of issuervii
Resulting situation on the date on which threshold was crossed or reached8.8%0%8.8%72,542,071
Position of previous notification (if applicable)7.0% 7.0% 
8. Notified details of the resulting situation on the date on which the threshold was crossed or reachedviii
A: Voting rights attached to shares
Class/type of shares ISIN code (if possible)Number of voting rightsix% of voting rights
Direct (Art 9 of Directive 2004/109/EC) (DTR5.1)Indirect (Art 10 of Directive 2004/109/EC) (DTR5.2.1)Direct (Art 9 of Directive 2004/109/EC) (DTR5.1)Indirect (Art 10 of Directive 2004/109/EC) (DTR5.2.1)
CA89366210666,354,7838.8%
     
     
SUBTOTAL 8. A6,354,7838.8%
   
B 1: Financial Instruments according to Art. 13(1)(a) of Directive 2004/109/EC (DTR5.3.1.1 (a))
Type of financial instrumentExpiration datexExercise/ Conversion PeriodxiNumber of voting rights that may be acquired if the instrument is exercised/converted.% of voting rights
     
     
     
  SUBTOTAL 8. B 1  
   
B 2: Financial Instruments with similar economic effect according to Art. 13(1)(b) of Directive 2004/109/EC (DTR5.3.1.1 (b))
Type of financial instrumentExpiration datexExercise/ Conversion Period xiPhysical or cash settlementxiiNumber of voting rights % of voting rights
      
      
      
   SUBTOTAL 8.B.2  
9. Information in relation to the person subject to the notification obligation (please mark the applicable box with an “X”)
Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuerxiii 
Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entityxiv (please add additional rows as necessary)X
Namexv% of voting rights if it equals or is higher than the notifiable threshold% of voting rights through financial instruments if it equals or is higher than the notifiable thresholdTotal of both if it equals or is higher than the notifiable threshold
Invesco Ltd.8.8% 8.8%
    
 
10. In case of proxy voting, please identify:
 
Name of the proxy holder 
The number and % of voting rights held 
The date until which the voting rights will be held 
 
11. Additional informationxvi
 
Place of completion1555 Peachtree Street NE, Suite 1800, Atlanta, GA, USA
Date of completion12 February 2020
  

About TransGlobe TransGlobe 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.

   
For further information, please contact:    
TransGlobe Energy   Via FTI Consulting
Randy Neely, President and Chief Executive Officer  
Eddie Ok, Chief Financial Officer 
   
Canaccord Genuity  (Nomad & Sole Broker) +44 (0) 20 7523 8000
Henry Fitzgerald-O’Connor  
James Asensio  
   
FTI Consulting  (Financial PR) +44 (0) 20 3727 1000
Ben Brewerton [email protected]
Genevieve Ryan 
  
Tailwind Associates  (Investor Relations)  
Darren Engels [email protected] http://www.tailwindassociates.ca +1 403.618.8035 [email protected] http://www.trans-globe.com +1 403.264.9888 

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