Oslo, Norway (26 August 2020) - In February 2019, TGS implemented an Employee
Share Purchase Plan (ESPP) pursuant to which eligible employees are allowed to
purchase TGS common shares at a discount through payroll deductions. The ESPP
operates in six-month periods, and at the end of each period, employees have the
option to purchase stock at a 15% discount to the market price at the time of
purchase. The plan sets a maximum purchase of 100 shares per employee per six-
month period. ESPP dividends are reinvested in shares.
On August 26, 2020, from both the purchase and the dividend reinvestment, the
following primary insiders received shares as participants in the ESPP. The
schedule attached reflects the holdings of the primary insiders following the
purchase and dividend reinvestment.
---- Fredrik Amundsen - 100 shares
---- William J.C. Ashby - 103 shares
---- Kristian Kuvaas Johansen - 103 shares
---- Tana LaDon Pool - 103 shares
---- Sven Borre Larsen - 100 shares
---- Magnus Undeli Bekkelund -- 100 shares
---- Amund Soia -- 57 Shares
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.
Forward Looking Statement
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 product at costs commensurate with profitability, as
well as volatile market conditions, which have been exacerbated by the COVID-19
pandemic and the severe drop in oil prices. 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.
For more information, visit TGS.com (http://www.tgs.com) or contact:
Chief Financial Officer
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