vaalco energy inc said friday that its business combination with transglobe energy corp has been completed and outlined a share buyback plan among other shareholder return plans the us energy company said the combined company will now trade its shares on the new york stock exchange and london stock exchange under the ticker symbol egy the combined africanfocused operator will have a portfolio of assets in gabon egypt equatorial guinea and canada the deal will boost the size and scale through material growth in proved reserves and production volumes with a potential to capture between 30 million and 50 million in synergy cost savings over the next seven years it added the company said it will launch a share buyback program of up to 30 million the equivalent of 027 a share and that it is targeting an annual dividend of 025 a share there is significant inherent value within the combined portfolio which should allow us to generate meaningful cash flow to fund increased stockholder dividends share buybacks and potential supplemental stockholder returns at a rate that would not have been achievable by either vaalco or transglobe on a standalone basis chief executive officer george maxwell said vaalco applied to restore its share trading at the lse on thursday expecting the admission of 1202 million shares transglobe shares will be delisted from the toronto stock exchange the nasdaq capital market and the lse it said