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TGS stock options exercised

PR-Inside.com: 2017-02-16 22:02:02

ASKER, NORWAY (16 February 2017) - 37 option holders have today, exercised in total 318,925 stock options. 285,875 options were exercised from the award in August 2012 secured by treasury shares at an exercise price of NOK 174.40 per share, and 33, 050 options were exercised from the award in August 2013 secured by warrants at an exercise price of NOK 181.90 per share. Following the exercise TGS holds 247,625 treasury shares.

The following primary insiders in TGS have on 16 February 2017 traded TGS shares related to their exercise of stock options:

John Adamick, Senior VP Geological Products and Services, has exercised 22,000 stock options and sold the same number of shares in TGS at an average price of NOK 189.50 per share. After this transaction, John Adamick holds 36,000 shares in TGS.

Knut Agersborg, VP Operations, has exercised 11,000 stock options and sold the same number of shares in TGS at an average price of NOK 189.50 per share. After this transaction, Knut Agersborg holds 2,100 shares in TGS.

Zhiming Li, Senior VP Imaging Services, has exercised 22,000 stock options and sold the same number of shares in TGS at an average price of NOK 189.50 per share. After this transaction, Zhiming Li holds 105,694 shares in TGS.

Will Ashby, VP Human Resources & Communication, has exercised 6,500 stock options and sold 6,000 shares in TGS at an average price of NOK 189.50 per share. After this transaction, Will Ashby holds 500 shares in TGS.

Johannes Røyrvik, Group Accounting & Tax Director, has exercised 6,500 stock options and sold the same number of shares in TGS at an average price of NOK 189.50 per share. After this transaction, Johannes Røyrvik does not hold any shares in TGS.

Amund Søia, Group Finance Director, has exercised 6,500 stock options and sold the same number of shares in TGS at an average price of NOK 189.50 per share. After this transaction, Amund Søia 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 principle 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 of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)

Primary Insiders exercised



This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: TGS via Globenewswire




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