Shareholder Information
TGS is listed on the Oslo Stock Exchange (Symbol: TGS) and also has an American Depositary Receipt (ADR) facility managed by The Bank of New York Mellon. TGS is part of the OBX index, being among the 25 most liquid stocks in Norway.
Shareholder Information
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Symbol: TGS
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Listing: Oslo Stock Exchange(member of the OBX index)
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Link to NewsWeb for Oslo Børs
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ADR: TGSGY and TGSNF (traded on the U.S. over-the-counter market)
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Analyst coverage: 10 firms
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Average daily trading volume YTD August 26, 2025: 427,397 shares
One Class of Shares
The Company has only one class of shares and each share gives the right to one vote at the General Assembly. There are no voting restrictions. The Board puts emphasis on, to the extent possible, disclosing and describing the topics of the agenda and the proposed resolutions in the call for the assembly to allow the shareholders to prepare beforehand.
Limitations on Trade
There are no other limitations to the trading of shares from the Company’s side, other than Insider Trading for employees and Board members.
The General Assembly
The Company’s General Assembly is open for all shareholders and any shareholder not attending the General Assembly can give
Shareholders who wish to raise a topic in the General Assembly have the possibility to do so, but must then notify the Board of Directors of this in writing and in
Investor Relations Policy
TGS' investor relations policy is designed to inform the stock market and all shareholders of the Company’s activities and status in a timely and accurate manner. The Company submits quarterly and annual financial reports to the OSE as well as any interim information of significance for assessing the Company’s value. This information is also available via the Company’s website.
The Company places great emphasis on providing the same information to all investors; national and international and all press releases and news are published in English only. To this end, the Company’s quarterly earnings presentations are recorded and made available as webcasts or Powerpoint presentations in real time. The Company also makes national and international presentations and roadshows throughout the year to inform existing and potential investors about TGS.
Dividend Policy
Because of the highly cyclical nature of the oil services industry, TGS' Board of Directors remains convinced that the TGS Group's unique business model, strong balance sheet
It is the ambition of TGS to pay a cash dividend that is in line with its long-term underlying cash flow. When deciding the annual dividend amount, the TGS Board of Directors will consider expected cash flow, investment plans, financing requirements and a level of financial flexibility that is appropriate for the TGS business model.
From 2016, TGS commenced paying dividends on a quarterly basis in accordance with the
The ex-dividend date will normally be seven days after the announcement of the dividend in connection with the release of quarterly financial statements, with the payment date 14 days after the ex-dividend date.
In addition to paying a cash dividend, TGS may also buy back its own shares as part of its plan to distribute capital to shareholders.
Further information is available in the Minutes of Annual General Meeting 2025.
Policy
The purpose of TGS’ investor relations (IR) policy is to define how the Company engages with investors and financial stakeholders to build trust and awareness. TGS has an IR-person who ensures that all relevant IR activities comply with rules, regulations and recommended practices.
Non-Discriminatory Disclosures
TGS informs the capital markets with orderly, fair and non-discriminatory disclosures. The Company publishes quarterly and annual financial reports according to rules and regulations, as well as any interim information of significance with potential to impact valuation of the TGS share.
In addition to regulatory financial reporting requirements, the Company publishes stock exchange releases to announce:
- All contract awards with a value of ~USD 5 million or more
- All multi-client projects with an investment amount of ~USD 5 million or more
- Strategically important contracts and all New Energy Solutions related projects
- A quarterly operational update on the sixth working day after quarter-end. The quarterly operational update includes an allocation overview of active 3D streamer vessels, a normalized ocean bottom crew count, and multi-client investment.
TGS publishes stock exchange releases at 07:00 a.m. local Oslo-time, unless an immediate disclosure is required.
In addition to stock exchange releases, TGS publishes press releases regarding other projects and news on its webpage www.tgs.com.
Communication Channels
TGS publishes all stock exchange releases on Euronext Oslo Børs’ newswire www.newsweb.no, on the Company’s webpage www.tgs.com, and other statutory news channels to ensure orderly, fair and non-discriminatory disclosures.
TGS provides live webcasts of quarterly earnings presentations and capital market days. Replays are available on the Company’s webpage shortly after.
All stock exchange releases and press releases are published in English only.
IR Activities and Spokespersons
TGS arranges investor roadshows after quarterly earnings releases, attends several investor conferences and have regular meetings with shareholders and investors interested in the Company.
There are several sell-side analysts with research coverage of TGS, an overview is available here. The IR-person is available for the sell-side and other investors and financial stakeholders for conference calls, meetings and to answer questions.
TGS collects sell-side consensus estimates before and after quarterly earnings releases and publishes them on the Company’s website.
The primary financial spokespersons in TGS are the CEO, CFO and the IR-person. Other members of the executive team, or leaders, can speak on behalf of the Company when agreed upon.
Silent Periods
TGS applies a silent period of 14 calendar days before announcement of a quarterly financial report and events such as a capital market day or similar. During the two-week period preceding the event, TGS limits its communications with the capital market and will not meet with investors and financial stakeholders.
Financial Calendar
Date | Report |
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8 October 2025 | Q3 Operational Update |
23 October 2025 | Q3 Quarterly Report |
Shareholder Structure
Largest Shareholders as of 22 September 2025 (data from Euronext VPS)
Rank | Name | Country | Shares | Ownership | Account type |
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1 | Folketrygdfondet | Norway | 13,072,484 | 6.5% | Ordinary |
2 | Brown Brothers Harriman |
Luxembourg |
11,185,821 | 5.7% | Nominee |
3 | BNP Paribas | Spain |
10,292,010 | 5.2% | Nominee |
4 | BNP Paribas |
Spain | 6,969,867 | 3.5% | Nominee |
5 | Interactive Brokers LLC |
United States | 6,953,363 | 3.5% |
Nominee |
6 | Bank of New York Mellon |
USA |
5,643,170 |
2.9% | Nominee |
7 | Pareto Aksje Norge |
Norway |
5,525,440 |
2.8% | Ordinary |
8 | JPMorgan Chase Bank |
United Kingdom |
5,276,102 | 2.7% | Nominee |
9 | State Street Bank | United States |
5,182,727 |
2.6% | Nominee |
10 | Morgan Stanley |
United States |
4,396,593 |
2.2% | Nominee |
10 Largest | 74,497,577 | 37.9% | |||
Total Shares Outstanding | 196,599,746 | 100% |
TGS’ complete shareholder register as disclosed in Euronext Securities Oslo (VPS) is available by logging into www.aksjeeierregisteret.no
Shareholder Structure
The data is provided by NASDAQ IR Insight and is obtained through analysis of beneficial ownership and fund manager information provided in replies to disclosure of ownership notices issued to all custodians in relation to TGS share register provided by Euronext VPS as of 20 June 2025. The ownership percentages do not necessarily include shareholdings that are lent.
Rank | Name | Shares | Ownership |
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1 | Fidelity International | 14,824,792 | 7.6% |
2 | Folketrygdfondet |
14,405,015 | 7.3% |
3 | Pareto Asset Management AS | 8,710,927 | 4.4% |
4 | AzValor Asset Management | 8,206,384 |
4,2% |
5 | DNB Asset Management |
8,022,037 |
4.1% |
6 | Cobas Asset Management | 7,628,670 |
3.9% |
7 | The Vanguard Group Inc. |
7,625,820 |
3.9% |
8 | KLP Kapitalforvaltning AS | 4,491,692 |
2.3% |
9 | BlackRock Institutional Trust Company |
4,314,978 |
2.2% |
10 | Fidelity Management & Research Company |
4,008,445 |
2.0% |
10 Largest | 82,238,760 |
41.9% | |
Total Shares Outstanding | 196,599,746 | 100% |
Requests regarding the Norwegian Public Limited Liability Companies Act §4-5, section 2 can be sent to ir@tgs.com
TGS' shareholder register of beneficial owners based on a register from Euronext VPS as of 28 February 2025, according to the Norwegian Regulations to Access the Shareholder Register and Nominee Registered Shares §4-1, section 2, is available here. The register was published on TGS' website on 27 March 2025.
Executive Management Shareholdings
As of 18 August 2025
Number of TGS Shares Held | Total Number of PSUs/RSUs | |
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Kristian Johansen | 186,148 |
311,205 |
Sven Børre Larsen | 58,998 |
162,894 |
David Hajovsky | 22,957 | 141,475 |
Nathan Oliver | 2,266 |
114,745 |
Carel Hooijkaas | 53,164 |
141,475 |
Wadii El Karkouri | - | 114,745 |
Tana Pool | 58,244 |
141,475 |
Kristin Omreng | 2,230 |
114,745 |
Whitney Eaton | 9,978 |
141,475 |
William Ashby | 62,011 |
141,475 |
VPS Shareholder Register
DNB Bank ASA
Verdipapirservice
Telephone: +47 23 26 80 20
Email: kua@dnb.no
Investor Relations Contact