The Board of Directors of TGS-NOPEC Geophysical Company ASA authorized at their meeting on August 6th, 2008 the award of Stock Options to be granted to 53 key employees of the Company. A total of 1,030,000 Stock Options will be granted on August 14th, 2008 and the exercise price will be the closing price of the share on the OSE the day before, August 13th, 2008.
In accordance with the measures approved by the Shareholders of TGS-NOPEC at the Ordinary General Meeting on June 5th, 2008, these options are secured by treasury shares.
In accordance with the measures approved by the Shareholders of TGS-NOPEC at the Ordinary General Meeting on June 5th, 2008, these options are secured by treasury shares.
The optionees will be entitled to exercise their options as follows: 25% of the total number beginning on August 14th, 2009; 50% of the total number beginning on August 14th, 2010, less any options previously issued; 75% of the total number beginning on August 14th, 2011, less any options previously issued; 100% of the total number beginning on August 14th, 2012, less any options previously issued. The options may not be exercised after June 5th, 2013.
No new shares will be issued to fulfil exercises of these stock options.
No new shares will be issued to fulfil exercises of these stock options.