TGS Share Repurchase
Oslo, Norway (27 May 2021) – On period from 20 May 2021 to 26 May 2021, TGS-NOPEC Geophysical Company ASA (TGS) purchased 60,000 own shares on the Oslo Stock Exchange at an average price of NOK 112.7701 per share. Following the purchase TGS holds 345,100 own shares, representing 0.294% of the total outstanding shares.
The shares were purchased in connection with the share repurchase announced on 11 February 2021.
| Overview of transactions | |||
| Date | Aggregated daily volume (number of shares) | Weighted average share price per day (NOK) | Total daily transaction value (NOK) |
| 20-May-21 | 20,000 | 110.6863 | 2,213,726 |
| 25-May-21 | 20,000 | 114.4405 | 2,288,810 |
| 26-May-21 | 20,000 | 113.1835 | 2,263,670 |
| Previously disclosed buy-backs under the program (accumulated) | 220,000 | 137.0210 | 30,144,629 |
| Accumulated under the buy-back program | 280,000 | 131.8244 | 36,910,835 |
| The issuer’s holding of own shares: | |||
| Following the completion of the above transactions, TGS owns a total of 345,100 own shares, corresponding to 0.294% of TGS’ share capital. | |||
| Appendix: | |||
| An overview of all transactions made under the buy-back programme that have been carried out during the above-mentioned time period is attached to this report and available at www.newsweb.no. | |||
About TGS
TGS provides scientific data and intelligence to companies active in the energy sector. In addition to a global, extensive and diverse energy data library, TGS offers specialized services such as advanced processing and analytics alongside cloud-based data applications and 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 or contact:
Fredrik Amundsen
Chief Financial Officer
investor@tgs.com
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