ASKER, NORWAY (23 May 2018) - 16 option holders have today, exercised in total 129,500 stock options. All the options were exercised from the award in August 2013 secured by warrants at an exercise price of NOK 181.90 per share.
The following primary insiders in TGS have on 23 May 2018 traded TGS shares related to their exercise of stock options:
Kristian Johansen, Chief Executive Officer, has exercised 12,000 stock options and sold 6,000 shares in TGS at an average price of NOK 273.80 per share. After this transaction, Kristian Johansen holds 26,200 shares in TGS.
Fredrik Amundsen, Senior Vice President Europe and Asia Pacific, has exercised 10,100 stock options and sold the same number of shares in TGS at an average price of NOK 273.80 per share. Fredrik Amundsen holds 2,250 shares in TGS.
Tom Neugebauer, Director of Project Development NSA, has exercised 2,500 stock options and sold the same number of shares in TGS at an average price of NOK 273.80 per share. Tom Neugebauer does not hold any 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 principal 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 to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
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