TGS Confirms Implementation of Sponsored ADR
ASKER, NORWAY -- (Marketwired) -- 06/28/13 -- Following its
announcement in May 2013, TGS confirms that its sponsored American
Depositary Receipt (ADR) program has been successfully implemented.
BNY Mellon has been appointed as depositary bank for this program.
Each TGS ADR represents one ordinary share and trades on the
over-the-counter market under the symbol "TGSGY". TGS' ordinary
shares trade on the Oslo Bors under the symbol "TGS".
The TGS ADR program will offer U.S. investors the convenience of
stock quotes and dividend payments in U.S. dollars with transactions
cleared and settled according to normal U.S. standards. TGS ADRs can
be purchased and sold in the same way as other U.S. stocks via a U.S.
broker and can provide investors with a cost-effective means of
international portfolio diversification.
"We are delighted to partner with BNY Mellon in establishing a
sponsored ADR program," said Kristian Johansen, CFO of TGS. "We look
forward to expanding our visibility and investor base within the U.S.
capital markets via this ADR program."
"We'll work closely with TGS to broaden its outreach to the global
investment community, with the ultimate goal being diversification of
its shareholder base by attracting more U.S. investors," said
Christopher M. Kearns, CEO of BNY Mellon's Depositary Receipts
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, permanent reservoir monitoring and data
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
TGS-NOPEC Geophysical Company ASA is listed on the Oslo Stock
Exchange (OSLO: TGS).
For additional information about this press release please contact:
Chief Financial Officer
Tel: +47 47 60 33 34
Director Investor Relations and M&A
Tel: +1 713 860 2184
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