TGS : NOTIFICATION OF TRADE - PRIMARY INSIDERS
Asker, Norway (14 August 2013)- Following the award of stock options as
notified by Oslo Stock Exchange on 9 August 2013, the attached primary
insiders did on 13 August 2013 accept the grants of free-standing warrants in
accordance with the stock option program. The attachment shows the number of
warrants accepted and the total balance of warrants and shares held by each of
the primary insiders who accepted the grants on 13 August 2013.
In accordance with the resolution by the general meeting on 4 June 2013, the
employees shall not pay for the free-standing warrants issued. The right to
request the issuance of shares under the free-standing warrants follows from
separate option agreements. The stock options can be exercised over a period
of five years so that 1/2 of the options can be exercised on the third
anniversary after grant date, and all or remaining options on the fourth
anniversary after grant date; all to be exercised before 4 June 2018, and will
expire thereafter. The price to be paid for the shares issued on the basis of
the free-standing warrants shall equal the price as set out in the underlying
stock options agreements which constitute the basis for subscription of
free-standing warrants, and which shall be the closing price quoted on the
Oslo Stock Exchange of the shares the day before the stock options are granted
- i.e. NOK 181.90.
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 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
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
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