OSLO, Norway (12 May 2021) - The Annual General Meeting of TGS held on 11 May 2021, approved that each of the Directors, other than the Chairman, should receive 1650 restricted shares in the Company as part of their compensation. The shares were transferred to the Directors on 12 May 2021. The attachment shows the number of restricted shares awarded on 11 May 2021 and the total number of shares held by each of the Directors. The Company has distributed the restricted shares to the Directors from its balance of treasury shares. Following the transfer of restricted shares to the Directors, TGS will hold 225,100 of the issued shares as treasury shares.
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:
Sven Børre Larsen
+47 90 94 36 73
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