ASKER, NORWAY (24 August 2018) - Following the registration of new shares relating to the vesting of RSUs (Restricted Stock Units) as notified by Oslo Stock Exchange on 22 August 2018, 98,800 new shares have been issued to 67 employees.
Primary insiders have been issued TGS shares related to the vesting of the RSUs and have sold shares to cover tax withholding as follows:
Fredrik Amundsen has subscribed for 2,500 shares and retains 1,318 shares after covering taxes (1,182 sold).
William Ashby has subscribed for 1,800 shares and retains 1,359 shares after covering taxes (441 sold).
Victor Marchon has subscribed for 2,500 shares and retains 1,897 shares after covering taxes (603 sold).
Amund Søia has subscribed for 1,480 shares and retains 780 shares after covering taxes (700 sold).
Attached is the list of primary insiders who have been issued TGS shares in relation to the vesting of the RSUs and their balance of TGS shares after sale of shares to cover taxes.
Company Summary
TGS-NOPEC Geophysical Company (TGS) provides multi-client geoscience data to oil and gas Exploration and Production companies worldwide. In addition to extensive global geophysical and geological data libraries that include multi-client seismic data, magnetic and gravity data, digital well logs, production data and directional surveys, TGS also offers advanced processing and imaging services, interpretation products, and data integration solutions.
For more information visit TGS online at www.tgs.com.
Forward-looking statements and contact information
All statements in this press release other than statements of historical fact are forward-looking statements, which are subject to a number of risks, uncertainties and assumptions that are difficult to predict, and are based upon assumptions as to future events that may not prove accurate. These factors include TGS' reliance on a cyclical industry and principle customers, TGS' ability to continue to expand markets for licensing of data, and TGS' ability to acquire and process data products at costs commensurate with profitability. Actual results may differ materially from those expected or projected in the forward-looking statements. TGS undertakes no responsibility or obligation to update or alter forward-looking statements for any reason.
TGS-NOPEC Geophysical Company ASA is listed on the Oslo Stock Exchange (OSLO:TGS).
TGS sponsored American Depositary Shares trade on the U.S. over-the-counter market under the symbol "TGSGY".
For additional information about this press release please contact:
Sven Børre Larsen
Chief Financial Officer
Tel: +47 90 94 36 73
Email: sven.larsen@tgs.com
Will Ashby
SVP Investor Relations, HR & Communication
Tel: +1 713 860 2184
Email: will.ashby@tgs.com
