Distribution of shares to former Volant owners
(Thomson Reuters ONE) -
ASKER, NORWAY (29 May 2015) - TGS has today distributed in total 8,764 treasury
shares as a final payment to the former owners of Volant Solutions, in
accordance with the share purchase agreement signed in May 2012. One of the
former owners of Volant Solutions, Scott Schneider, now TGS' VP Information
Technology, Information Systems, is a primary insider. After this transaction
Scott Schneider holds 7,380 shares in TGS. Mr. Schneider does also hold 5,700
TGS stock options.
The company has distributed the shares to the former owners of Volant Solutions
from its balance of treasury shares. Following the transfer of the shares, TGS
holds 1,901,098 of the issued shares as treasury shares.
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:
Kristian Johansen
COO/Interim CFO
Cell: +47 47 60 33 34
Email: kristian.johansen(at)tgs.com
Will Ashby
Director Finance Western Hemisphere & Investor Relations
Tel: +1 713 860 2184
Email: will.ashby(at)tgs.com
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. 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 the information contained therein.
Source: TGS via GlobeNewswire
[HUG#1925073]
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Datum: 29.05.2015 - 16:18 Uhr
Sprache: Deutsch
News-ID 396849
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contact information:
Town:
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Kategorie:
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"Distribution of shares to former Volant owners"
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