ASKER, NORWAY (31 May 2017) - 12 option holders have today, exercised in total 105,375 stock options. All the options were exercised from the award in August 2012 secured by treasury shares at an exercise price of NOK 174.40 per share. Following the exercise, TGS holds 116,180 treasury shares.
The following primary insiders in TGS have on 31 May 2017 traded TGS shares related to their exercise of stock options:
Kristian Johansen, CEO, has exercised 27,000 stock options and sold 23,500 shares in TGS at an average price of NOK 178.64 per share. After this transaction, Kristian Johansen holds 14,500 shares in TGS.
Knut Agersborg, VP Operations, has exercised 11,000 stock options and sold the same number of shares in TGS at an average price of NOK 178.64 per share. After this transaction, Knut Agersborg holds 3,700 shares in TGS.
Attached is the list of the primary insiders exercising stock options.
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 VP HR & Communication Tel: +1 713 860 2184 Email: will.ashby@tgs.com
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
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