TransGlobe Energy Corporation AGM Statement (8399M)
14 Maio 2020 - 3:00AM
UK Regulatory
TIDMTGL
RNS Number : 8399M
TransGlobe Energy Corporation
14 May 2020
TRANSGLOBE ENERGY CORPORATION ANNOUNCES AGM VOTING RESULTS
AND CONFIRMATION OF BOARD CHANGES
AIM & TSX: "TGL" & NASDAQ: "TGA"
Calgary, Alberta, May 14, 2020 - 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 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:
Votes Against
Votes For or Withheld
Outcome (ballots (ballots
Description of Matter of Vote only) only)
---------------------------------------------- ----------- ----------- --------------
1. Ordinary resolution fixing
the number of directors of TransGlobe
to be elected at the Meeting at
seven (7). Approved 23,508,664 6,243,177
79.02% 20.98%
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,
2020 (the "Information Circular"):
David B. Cook Approved 20,947,677 8,803,539
70.41% 29.59%
Randall C. Neely 24,145,233 5,605,983
81.16% 18.84%
Carol Bell 21,214,672 8,537,169
71.31% 28.69%
Ross G. Clarkson 24,892,978 4,858,238
83.67% 16.33%
Edward D. LaFehr 24,348,135 5,403,706
81.84% 18.16%
Timothy R. Marchant 24,270,760 5,481,081
81.58% 18.42%
Steven W. Sinclair 21,677,952 8,073,889
72.86% 27.14%
3. Ordinary resolution appointing Approved Show of Show of
Deloitte LLP, Chartered Accountants, hands hands
as auditors of TransGlobe for
the ensuing year and to authorize
the directors of TransGlobe to
fix their remuneration as such.
Approved 23,142,128 6,609,713
4. Advisory resolution accepting
the Company's approach to executive
compensation, as described in
the Information Circular. 77.78% 22.22%
5. Ordinary resolution confirming
amendments to the Company's Advance
Notice By-Laws as described in
the Information Circular. Approved 27,000,768 2,751,074
90.75% 9.25%
Following the Meeting, TransGlobe's Committees of the Board of
Directors will be constituted as follows:
RHSES Committee Audit Committee CHR&G Committee
Edward LaFehr - Chair Steven Sinclair - Chair Carol Bell - Chair
------------------------ -------------------
Ross Clarkson Carol Bell Timothy Marchant
------------------------ -------------------
Timothy Marchant Edward LaFehr Steven Sinclair
------------------------ -------------------
RHSES: Reserves, Health, Safety, Environment and Social
Responsibility Committee
CHR&G: Compensation, Human Resources and Governance
Committee
Shareholder Outreach
Our 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 boardofdirectors@trans-globe.com
.
Director Retirement
Ms. 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 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 transglobeenergy@fticonsulting.com
Genevieve Ryan
Tailwind Associates (Investor Relations)
Darren Engels darren@tailwindassociates.ca
http://www.tailwindassociates.ca
+1 403.618.8035
investor.relations@trans-globe.com
http://www.trans-globe.com
+1 403.264.9888
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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