13th May 2019 07:00
TRANSGLOBE ENERGY CORPORATION ANNOUNCES AGM VOTING RESULTS
AND CONFIRMATION OF BOARD CHANGES
AIM & TSX: "TGL" & NASDAQ: "TGA"
Calgary, Alberta, May 13, 2019 - 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
In respect of 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 10, 2019 the following sets forth a brief description of each matter voted upon at such Meeting 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 seven (7).
| Approved | 37,118,564 97.07% | 1,121,210 2.93% |
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 27, 2019 (the "Information Circular"):
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David B. Cook | Approved | 36,877,742 96.44% | 1,362,033 3.56% |
Steven W. Sinclair | 36,676,986 95.91% | 1,562,789 4.09% | |
Susan M. MacKenzie | 36,498,755 95.45% | 1,741,020 4.55% | |
Carol Bell | 36,954,360 96.64% | 1,285,415 3.36% | |
Ross G. Clarkson | 37,052,951 96.90% | 1,186,824 3.10% | |
Randall C. Neely | 37,051,798 96.89% | 1,187,977 3.11% | |
Edward D. LaFehr | 37,044,448 96.87% | 1,195,327 3.13% | |
3. Ordinary resolution appointing Deloitte 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 |
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4. Advisory resolution accepting the Company's approach to executive compensation, as described in the Information Circular.
| Approved | 36,017,563 94.19% | 2,222,213 5.81% |
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5. Ordinary resolution approving all unallocated options under the Company's existing stock options plan as described in the Information Circular. | Approved | 36,583,706 95.67% | 1,656,068 4.33% |
Mr. Robert Jennings, previous Chairman of the Board of Directors chose not to stand for re-election retiring effective May 9, 2019. Mr. David Cook has been appointed Chairman of the Board of Directors effective May 10, 2019. Following the Meeting, TransGlobe's Committees of the Board of Directors will be constituted as follows:
R&HSES Committee | Audit Committee | CHR&G Committee |
Edward LaFehr - Chair | Steven Sinclair - Chair | Carol Bell - Chair |
Susan MacKenzie | Carol Bell | Susan MacKenzie |
Ross Clarkson | Edward LaFehr | Steven Sinclair |
For each of the Audit Committee and the CHR&G Committee, all members are Independent Directors of the Company. The majority of Directors on the R&HSES Committee are Independent Directors of the Company and the Chair of the Committee is an Independent Director. No Committees of the Board of Directors have an Executive Officer participating as a member of the Committee.
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:
Investor Relations Telephone: +1 403.264.9888 Email: [email protected] Web site: http://www.trans-globe.com |
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TransGlobe Energy |
| Via FTI Consulting |
Randy Neely, President and Chief Executive Officer |
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Eddie Ok, Chief Financial Officer |
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Canaccord Genuity (Nomad & Joint Broker) |
| +44 (0) 20 7523 8000 |
Henry Fitzgerald-O'Connor |
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James Asensio |
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GMP First Energy (Joint Broker) |
| +44 (0) 20 7448 0200 |
Jonathan Wright |
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FTI Consulting (Financial PR) |
| +44 (0) 20 3727 1000 |
Ben Brewerton |
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Genevieve Ryan |
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Related Shares:
TGL.L