On October 7, 2022, TransGlobe Energy Corporation is pleased to announce that at its special meeting of held on October 7, 2022, the holders of common shares of the Company , passed a special resolution approving a plan of arrangement pursuant to Section 193 of the Business Corporations Act (Alberta), pursuant to which VAALCO Energy Canada ULC, will acquire all of the issued and outstanding the Company Common Shares and the Corporation will become a direct wholly-owned subsidiary of AcquireCo and an indirect wholly-owned subsidiary of VAALCO Energy, Inc. (VAALCO). In addition, the Company stated that the Company shareholders will receive, for each the Company common share held, 0.6727 of a share of common stock in the authorized capital of VAALCO.