Montrusco Bolton Investments Inc. Invites Shareholders to Help Improve Corporate Governance at TransGlobe Energy Corporation

MONTREAL, April 21, 2015 /CNW Telbec/ - Montrusco Bolton Investments Inc. ("MBI") confirmed today that it requested the addition of four items to the agenda (the "Proposals") of the next annual general meeting of shareholders ("AGM") of TransGlobe Energy Corporation ("TransGlobe" or the "Company") to be held in Calgary on May 7, 2015.

We are happy to announce that after a number of constructive discussions between the Board and management team of TransGlobe Energy and Montrusco Bolton, both parties have agreed on a number of enhancements in terms of corporate governance practices. Some practices will be integrated into the Company's by-laws while others will be presented to shareholders. It is Montrusco Bolton's opinion that this process will help position Transglobe Energy as one of the leaders in its industry in terms of governance and will help align the interests of the board and management along with those of shareholders.

 The Proposals are:

  1. Amend By-Law Number 2 (Advance Notice By-Law)
  2. Annual Advisory Shareholder Vote on Executive Compensation ("Say on Pay")
  3. The Dilution Safeguard Proposal
  4. Rechtsstaat Standards for International Investments

Discussions with management were constructive and productive, resulting in the support of two of our proposals, namely to Amend By-Law Number 2 and "Say on Pay". There were two proposals where common ground was not reached, namely The Dilution Safeguard Proposal to protect shareholders against decisions resulting in excessive dilution and the Rechtsstaat Standards for International Investments, which will both be presented to shareholders.

The full text of today's MBI press release, including detailed support of the Proposals, is available at www.montruscobolton.com under section Publications/Press Releases/Corporate Governance - Montrusco Bolton Investments Inc. Requests Shareholders to Help Improve Corporate Governance at TransGlobe Energy Corporation.

Montrusco Bolton is committed to adding value by engaging with the companies in which it invests.

 

SOURCE Montrusco Bolton Investments Inc.

For further information: Christian Godin, Senior Vice-President, Head of Equities, Montrusco Bolton Investments Inc., (514) 282-2915, godinc@montruscobolton.com; John Goldsmith, Vice President, Deputy Head of Equities, Montrusco Bolton Investments Inc., (416) 304-3931, goldsmithj@montruscobolton.com

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