TGS : Mandatory Notice of Trade
ASKER (9 August 2013) - The Board of Directors of TGS-NOPEC Geophysical
Company ASA has authorized the award of stock options to be granted to 60 key
employees of the Company. A total of 600,000 stock options were granted on 8
August 2013 and the exercise price was NOK 181.90, the closing price of the
share on the OSE on 7 August 2013.
The list of primary insiders receiving grants is attached.
In accordance with the measures approved by the Shareholders of TGS-NOPEC at
the Annual General
Meeting on 4 June 2013, these options are secured by free-standing warrants.
Each free-standing warrant gives the right to subscribe for one share.
The optionees will be entitled to exercise their options as follows: 50% of
the total number beginning on 8 August 2016; 100% of the total number
beginning on 8 August 2017, less any options previously exercised.
The options may not be exercised after 4 June 2018.
The options will be valid once the documents are finalized.
TGS-NOPECGeophysical 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 integration solutions.
For more information visitTGS online atwww.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
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:
Chief Financial Officer
Cell: +47 47 60 33 34
Director Investor Relations and M&A
Tel: +1 713 860 2184
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
TGS Primary Insiders Options Grant 9August2013
This announcement is distributed by Thomson Reuters on behalf of Thomson
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other
applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of
information contained therein.
Source: TGS via Thomson Reuters ONE
Press spacebar to pause and continue. Press esc to stop.