TGS and PGS - key dates for completion of merger
20 Giugno 2024 - 8:00AM
TGS and PGS - key dates for completion of merger
Oslo, Norway (20 June 2024) - Reference is made to the joint
stock exchange announcement on 18 September 2023 by TGS ASA
("TGS" or the "Company," OSE:
TGS) and PGS ASA ("PGS," OSE: PGS) regarding the
combination of the two companies (the "Merger") to
establish the premier energy data company, as well as the
announcements on 25 October 2023 and 1 December 2023 regarding,
respectively, the execution of the definitive merger agreement and
approval by the extraordinary general meetings.
Reference is also made to subsequent
announcements related to regulatory approval process, latest on 11
June 2024 where it was reported that all conditions for completion
of the Merger have been satisfied.
On this basis, it is currently expected that
completion of the Merger will occur on 1 July 2024. Key dates and
information for the completion of the Merger will then be as
follows:
|
Last day of trading in PGS shares on OSE (and last day of trading
inclusive of right to merger consideration) |
1 July 2024 |
|
Effective date for completion of the Merger |
1 July 2024 (after close of trade) |
|
First day of trading in the combined company on OSE |
2 July 2024 |
|
Record date for delivery of consideration shares to former PGS
shareholders |
3 July 2024 |
|
Record date for payment of cash consideration to former PGS
shareholders |
3 July 2024 |
|
Delivery of consideration shares to former PGS shareholders |
4 July 2024 |
|
Payment of cash consideration to former PGS shareholders (paid as
return on paid in capital) |
9 July 2024 |
|
ISIN (TGS, unchanged) |
NO 0003078800 |
|
Transferor company |
PGS ASA |
|
Transferee company |
TGS Newco AS, with consideration shares issued by TGS ASA |
|
Merger consideration |
PGS shareholders will for each PGS share held per the record date
receive: - 0.06829 shares in TGS, and - NOK 0.20419 in cash (to be
paid as return of paid-up capital without withholding of tax). |
|
Date of approvals |
1 December 2023 (extraordinary general meetings) |
For further information on the Merger and the complete terms and
conditions for the Merger, please see the merger plan for the
Merger available on www.pgs.com and www.tgs.com.
For more information, contact:
Gottfred LangsethChief Financial OfficerEmail: ir@pgs.com
TGS:Sven Børre Larsen Chief Financial Officer
Email: investor@tgs.com
Disclosure:
This information is subject of the disclosure
requirements pursuant to section 5-12 of the Norwegian Securities
Trading Act.
PGS ASA and its subsidiaries (“PGS” or “the Company”) is a fully
integrated marine geophysical company that provides a broad range
of seismic and reservoir services, including data acquisition,
imaging, interpretation, and field evaluation. Our services are
provided to the oil and gas industry, as well as to the broader and
emerging new energy industries, including carbon storage and
offshore wind. The Company operates on a worldwide basis with
headquarters in Oslo, Norway and the PGS share is listed on
the Oslo stock exchange (OSE: PGS). For more information on PGS
visit www.pgs.com.
***
The information included herein contains certain forward-looking
statements that address activities, events or developments that the
Company expects, projects, believes or anticipates will or may
occur in the future. These statements are based on various
assumptions made by the Company, which are beyond its control and
are subject to certain additional risks and uncertainties. The
Company is subject to a large number of risk factors including but
not limited to the demand for seismic services, the demand for data
from our multi-client data library, the attractiveness of our
technology, unpredictable changes in governmental regulations
affecting our markets and extreme weather conditions. For a further
description of other relevant risk factors we refer to our Annual
Report for 2023. As a result of these and other risk factors,
actual events and our actual results may differ materially from
those indicated in or implied by such forward-looking statements.
The reservation is also made that inaccuracies or mistakes may
occur in the information given above about current status of the
Company or its business. Any reliance on the information above is
at the risk of the reader, and PGS disclaims any and all liability
in this respect.
--END--
Grafico Azioni PGS ASA (TG:PGS1)
Storico
Da Dic 2024 a Gen 2025
Grafico Azioni PGS ASA (TG:PGS1)
Storico
Da Gen 2024 a Gen 2025
