- So far, Horizon has received support from owners of approximately 20% of the issued and outstanding shares of TransGlobe
- Horizon thanks shareholders for overwhelming support received to-date and urges more TransGlobe shareholders to take immediate action to VOTE AGAINST the Proposed Transaction AS SOON AS POSSIBLE
- Even if you have voted in favour of the Proposed Transaction it is not too late to change your vote
As stated previously, Horizon believes that TransGlobe shareholders should VOTE AGAINST the Proposed Transaction so that the Company can instead pursue certain alternatives that we currently anticipate would result in greater long-term value to all shareholders of
Consistent with such course of action, Horizon currently estimates that the Company is in a position to generate approximately
We believe that if shareholders of TransGlobe VOTE AGAINST the Proposed Transaction, the Company will be in a position to pursue this action plan which could result in the monetization of value for shareholders of
We thank shareholders for the support we have received to date, and we urge all TransGlobe shareholders who have not done so already to VOTE AGAINST the Proposed Transaction AS SOON AS POSSIBLE.
Information in Support of Public Broadcast Solicitation:
The following information is provided in accordance with Canadian corporate and securities laws applicable to public broadcast solicitations. Horizon is relying on the exemption under section 9.2(4) of National Instrument 51-102 – Continuous Disclosure Obligations ("NI 51-102") to make this public broadcast solicitation. This solicitation is being made by Horizon and not by or on behalf of the management of TransGlobe. The registered office address of TransGlobe is 900,
Horizon has filed this press release containing the information required by section 9.2(4)(c) of NI 51-102 on TransGlobe's company profile on SEDAR at www.sedar.com.
Horizon may solicit proxies in reliance upon the public broadcast exemption to the solicitation requirements under applicable Canadian corporate and securities laws, conveyed by way of public broadcast, including through press releases, speeches or publications, and by any other manner permitted under applicable Canadian laws. All costs incurred for the solicitation will be borne by Horizon.
A TransGlobe shareholder who has given a proxy has the power to revoke it. If a TransGlobe shareholder who has given a proxy attends the Meeting at which the proxy is to be voted, such TransGlobe shareholder, may revoke the proxy and vote at the Meeting. In addition to revocation in any other manner permitted by law, a proxy may be revoked by an instrument in writing signed by the TransGlobe shareholder or his or her attorney authorized in writing, or, if the TransGlobe shareholder is a corporation, under its corporate seal and signed by a duly authorized officer or attorney for the corporation, and deposited at the registered office of TransGlobe at any time up to and including the last day (other than Saturdays, Sundays and statutory holidays in the Province of
FOR FURTHER INFORMATION PLEASE CONTACT:
Calle 53E, Urbanización Marbella,
Tel: +1 347 759 6074
E-mail: jpa@horizon-partners.com
Calle 53E, Urbanización Marbella,
Tel: +54 911 6252 4736
E-mail: jps@horizon-partners.com
Advisors
ABOUT HORIZON PARTNERS.
Horizon is a privately-owned business with advisory and principal investment activities and with substantial focus on the energy industry.
Cautionary Statement Regarding Forward Looking Information
All statements, other than statements of historical fact, included in this news release constitute "forward-looking information" as such term is defined in applicable Canadian securities legislation. Forward-looking information can generally be identified by the use of forward-looking language such as "will", “would”, “could”, "expect", "intend", "plan", "estimate", "anticipate", “may”, "believe" or "continue" (and grammatical variations and the negatives thereof) and include statements concerning Horizon's intentions and strategies regarding the Company, Horizon’s views on potential alternatives to monetize value for the Company and its shareholders instead of pursuing the Proposed Transaction (and the potential timeframe for such monetization) and the impact on the financial condition, operation, business, strategies and competitive position of the Company and its future management if the Proposed Transaction is not approved by the shareholders. Such forward-looking information is based on certain understandings, assumptions, beliefs, opinions and expectations of Horizon, including, without limitation, the Company's future growth potential, results of operations, future cash flows, ability to monetize assets, the future performance and business prospects and opportunities of the Company, the regulatory environment and economic and market conditions that the Company faces and those assumptions noted above in this news release. Shareholders should not place undue reliance on such forward-looking information, which is not a guarantee that any particular outcome, event, result, performance or other achievement will occur. Many risks, uncertainties and other factors could cause the actual outcomes, events, results, performance or achievements expressed or implied by such forward-looking information to vary materially from those described herein should any of those risks, uncertainties or other factors materialize. Such risks, uncertainties and other factors include, without limitation, the impact of legislative, regulatory, competitive and technological changes; the state of the economy; credit and equity markets; availability of credit and other financing; the financial markets in general; the ability of the Company to retain and hire key personnel and maintain relationships with customers, suppliers or other business partners; and all other risks and uncertainties detailed in the Company's filings with applicable Canadian securities commissions, copies of which are available on SEDAR at www.sedar.com. Accordingly, readers of this news release are cautioned not to place undue reliance on any forward-looking information contained in this news release. All forward-looking information contained herein is expressly qualified in its entirety by this cautionary statement. All forward-looking information contained herein is made as of this news release and Horizon undertakes no obligation to publicly update or revise any such forward-looking information, except as required by law.
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