VAALCO completes TransGlobe acquisition; issues ~49.3M shares, sets $0.25/yr dividend

VAALCO ENERGY INC /DE/

Exchange ratio of 0.6727 VAALCO shares per TransGlobe share; ~49.3M VAALCO shares issued.
Board expanded from 4 to 7 with appointment of David Cook, Edward LaFehr, Timothy Marchant.
Authorized common shares increased from 100M to 160M; TransGlobe credit facility of C$4.1M repaid.
Targeted annualized dividend of $0.25/share for 2023, nearly double prior; $30M share buyback planned.
Synergistic cost savings of $30-50M expected over 7 years; pro forma company has no net debt.

item 2.01 item 5.02 item 5.03 item 7.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Appointed

Edward LaFehr

Director

EGY · VAALCO ENERGY INC /DE/

Filed: October 14, 2022, 7:59 PM ET

appointed three of the members of TransGlobe’s existing board of directors, namely: David Cook, Edward LaFehr and Timothy Marchant, to serve as directors of VAALCO

Appointed

David Cook

Director

EGY · VAALCO ENERGY INC /DE/

Filed: October 14, 2022, 7:59 PM ET

appointed three of the members of TransGlobe’s existing board of directors, namely: David Cook, Edward LaFehr and Timothy Marchant, to serve as directors of VAALCO

Appointed

Timothy Marchant

Director

EGY · VAALCO ENERGY INC /DE/

Filed: October 14, 2022, 7:59 PM ET

appointed three of the members of TransGlobe’s existing board of directors, namely: David Cook, Edward LaFehr and Timothy Marchant, to serve as directors of VAALCO

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Edward LaFehr was appointed as Director at VAALCO ENERGY INC /DE/.

Action: appointed
Role: Director

Exact text from the filing

appointed three of the members of TransGlobe’s existing board of directors, namely: David Cook, Edward LaFehr and Timothy Marchant, to serve as directors of VAALCO

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

David Cook was appointed as Director at VAALCO ENERGY INC /DE/.

Action: appointed
Role: Director

Exact text from the filing

appointed three of the members of TransGlobe’s existing board of directors, namely: David Cook, Edward LaFehr and Timothy Marchant, to serve as directors of VAALCO

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Timothy Marchant was appointed as Director at VAALCO ENERGY INC /DE/.

Action: appointed
Role: Director

Exact text from the filing

appointed three of the members of TransGlobe’s existing board of directors, namely: David Cook, Edward LaFehr and Timothy Marchant, to serve as directors of VAALCO

View on SEC.gov

VAALCO ENERGY INC /DE/ filing history →

Source: SEC EDGAR

accession 0001140361-22-037165

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