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MarketScreener Homepage  >  Equities  >  Oslo Bors  >  TGS-Nopec Geophysical Company    TGS   NO0003078800

TGS-NOPEC GEOPHYSICAL COMPANY

(TGS)
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TGS Nopec Geophysical : Merger between TGS and Spectrum declared unconditional - key dates for completion

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08/07/2019 | 06:15am EDT

Oslo7 August 2019:

Reference is made to previous stock exchange announcements regarding the merger between TGS-NOPEC Geophysical Company ASA ("TGS", OSE: TGS) and Spectrum ASA ("Spectrum", OSE: SPU).

All conditions for the merger have now been fulfilled, and the parties have declared the transaction unconditional.

Key dates and information for the completion of the merger are as follows:

Last day of trading in Spectrum shares on Oslo Børs:

14 August 2019
Effective Date (of completed merger):

14 August 2019
First day of trading in combined company:

15 August 2019
Record date for delivery of consideration shares and cash consideration:

16 August 2019
ISIN (TGS, unchanged):

NO 0003078800
Transferor company:

Spectrum
Transferee company:TGS AS, with consideration shares issued by TGS

Merger consideration:Shareholders in Spectrum will for each Spectrum share held per the record date receive (i) 0.28 shares in TGS and (ii) NOK 0.655 in cash.

Date of approvals:21 June 2019 (extraordinary general meetings)

For further information and details on the merger, please see stock exchange announcements of 2 May 2019 and 21 May 2019.

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 (http://www.tgs.com). For further information regarding this announcement please contact: Sven Børre Larsen Chief Financial Officer Tel: +47 909 43 673 E-mail: investor@tgs.com

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act

© OMX, source OMX

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Financials (USD)
Sales 2019 798 M
EBIT 2019 267 M
Net income 2019 213 M
Finance 2019 339 M
Yield 2019 4,12%
P/E ratio 2019 15,1x
P/E ratio 2020 11,6x
EV / Sales2019 3,52x
EV / Sales2020 2,87x
Capitalization 3 149 M
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Mean consensus OUTPERFORM
Number of Analysts 10
Average target price 32,65  $
Last Close Price 26,76  $
Spread / Highest target 32,8%
Spread / Average Target 22,0%
Spread / Lowest Target 5,68%
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Managers
NameTitle
Kristian Kuvaas Johansen Chief Executive Officer
Henry Haywood Hamilton Chairman
Knut Erik Agersborg Vice President-Operations
Sven Børre Larsen Chief Financial Officer
Zhi Ming Li SVP-Data Processing, Research & Development
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