9 Nov 2022investor presentation● Neutral
CEO George Maxwell and CFO Ron Bain held one-on-one virtual meetings with investors and posted an accompanying investor presentation to VAALCO's website.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
8 Nov 2022quarterly activities report● Neutral
VAALCO ENERGY INC /DE/ reported quarterly revenue of $78.1 million and net income of $6.9 million for the period ended 2022-09-30.
7 Nov 2022director interest notice● Neutral
Michael Silver forfeited 60,256 shares of unvested restricted stock on November 3, 2022, when his departure as General Counsel and Corporate Secretary took effect. He held 51,255 shares afterwards.
2 Nov 2022business combination▲ GoodMajor
VAALCO's board approved the $30 million share buyback program first flagged when the TransGlobe Energy merger was announced.
31 Oct 2022dividend declaration● Neutral
VAALCO declared its fourth-quarter 2022 dividend, unchanged at $0.0325/share, its first since completing the TransGlobe Energy merger.
28 Oct 2022director interest notice● Neutral
Matthew R Powers became a VAALCO ENERGY INC /DE/ EVP, Gen. Counsel & Corp. Sect and company insider (initial ownership filing).
19 Oct 2022quarterly activities report● Neutral
VAALCO announced it had completed the FSO installation and field reconfiguration at Etame. It also disclosed its third quarter 2022 production and sales volumes.
14 Oct 2022director interest notice● Neutral
David Bruce Cook became a VAALCO ENERGY INC /DE/ company insider (initial ownership filing).
14 Oct 2022director interest notice● Neutral
Timothy Robertson Marchant became a VAALCO ENERGY INC /DE/ company insider (initial ownership filing).
14 Oct 2022director interest notice● Neutral
Edward David Lafehr became a VAALCO ENERGY INC /DE/ company insider (initial ownership filing).
14 Oct 2022business combination● NeutralMajor
VAALCO completed its acquisition of TransGlobe Energy Corporation, expanded its board from four to seven directors by adding three TransGlobe directors, and raised its authorized share count from 100 million to 160 million shares - closing the merger first announced in mid-2022.
13 Oct 2022business combination▲ GoodMajor
VAALCO completed its merger with TransGlobe Energy and applied to relist its shares following the deal's close.
12 Oct 2022business combination▲ GoodMajor
A Canadian court approved VAALCO's TransGlobe Energy merger, clearing the way for VAALCO's shares to resume trading.
11 Oct 2022business combination▲ Good
VAALCO's UK share prospectus for its TransGlobe Energy merger was approved by UK regulators.
19 Sept 2022agm notice● Neutral
VAALCO added supplemental disclosures to its TransGlobe merger proxy statement after two stockholder lawsuits and seven demand letters claimed it was misleading. It said the claims were without merit and made the disclosures voluntarily to avoid delaying the deal.
19 Sept 2022business combination● Neutral
VAALCO added supplemental disclosures to its TransGlobe merger proxy statement after two stockholder lawsuits and seven demand letters claimed it was misleading. It said the claims were without merit and made the disclosures voluntarily to avoid delaying the deal.
12 Sept 2022material agreement● Neutral
VAALCO extended its floating production vessel contract at Etame Marin by two weeks, to allow time to demobilize ahead of its planned switch to a new storage vessel.
6 Sept 2022director officer appointment● Neutral
General Counsel Michael Silver notified VAALCO of his intention to resign. The company agreed a retention bonus of 50% of prorated base salary if he stayed until five days after the TransGlobe merger closed, was terminated, or a mutually agreed date.
1 Sept 2022agm notice● Neutral
VAALCO filed and mailed its definitive proxy statement for a special stockholder meeting on September 29, 2022. Stockholders were to vote on increasing authorized shares and issuing shares for the TransGlobe deal.
30 Aug 2022business combination● NeutralMajor
VAALCO filed the final proxy statement for the TransGlobe merger, which it began mailing around 2022-08-30. It sets a virtual special meeting for September 29, 2022 at 11:00 AM Eastern, where stockholders vote on the authorized-share increase (100 million to 160 million) and the share issuance. The board unanimously recommends voting for both, and the deal cannot close unless both pass. This finalises the draft filed on 2022-08-19, with the same terms (0.6727 VAALCO share per TransGlobe share, about 54.5% VAALCO ownership after closing).
19 Aug 2022business combination● NeutralMajor
VAALCO filed a preliminary (draft) proxy statement asking its stockholders to vote on the TransGlobe Energy merger. TransGlobe holders would get 0.6727 VAALCO share per TransGlobe share (about $307 million at announcement), leaving VAALCO holders with about 54.5% of the combined company. Stockholders would vote on raising authorized shares from 100 million to 160 million and on issuing the new shares. The meeting date is still blank, and the document says it is subject to completion.
16 Aug 2022agm notice● Neutral
VAALCO filed a transcript of an August 10, 2022 webcast presenting the proposed TransGlobe combination, under which each TransGlobe share would get 0.6727 of a VAALCO share, with VAALCO planning a buyback of up to $30 million after completion.
15 Aug 2022business combination● Neutral
VAALCO set the record date for the shareholder vote on its pending TransGlobe Energy merger.
15 Aug 2022agm notice● Neutral
VAALCO set August 24, 2022 as the record date for a special stockholder meeting to vote on the proposed TransGlobe Energy arrangement. The meeting date was to be announced later.
10 Aug 2022quarterly activities report● Neutral
VAALCO ENERGY INC /DE/ reported quarterly revenue of $111.0 million and net income of $15.1 million for the period ended 2022-06-30.
10 Aug 2022quarterly activities report● Neutral
VAALCO announced it issued a press release on August 10, 2022 with its financial results for the quarter ended June 30, 2022, with slides available on its website.
9 Aug 2022dividend declaration● Neutral
VAALCO declared its third-quarter 2022 dividend, unchanged at $0.0325/share.
9 Aug 2022agm notice● Neutral
VAALCO filed an 8-K announcing a third-quarter 2022 cash dividend of $0.0325 per share, payable September 23, 2022 to holders of record on August 24, 2022.
8 Aug 2022business combination● Neutral
VAALCO published additional investor materials on its pending TransGlobe Energy merger.
8 Aug 2022agm notice● Neutral
VAALCO filed TransGlobe's investor presentation on the proposed all-share combination, with VAALCO holders to own 54.5% and TransGlobe holders 45.5%, at 0.6727 VAALCO share per TransGlobe share.