Press Releases

Shareholders Approve the Transaction of TGS to Acquire Spectrum

Asker, Norway (21 June 2019) – Following the announcement on 20 May 2019 concerning the merger plan between TGS-NOPEC Geophysical Company ASA and Spectrum ASA, an extraordinary general meeting of TGS was held today at the offices of the law firm Schjødt, at Ruseløkkveien 16, in Oslo at 17:00 CET. 

All resolutions proposed were approved by the shareholders of TGS. The minutes from the extraordinary general meeting are attached to this announcement.

Concurrently with the TGS extraordinary general meeting, an extraordinary general meeting of Spectrum ASA has also approved the merger plan. For further information, see the announcement by Spectrum ASA available on www.newsweb.no.

Kristian Johansen, Chief Executive Officer of TGS, said, “We are pleased about the transaction approval for TGS to acquire Spectrum. Spectrum’s portfolio will enhance TGS’ position as a leading multi-client geophysical data provider covering all mature and frontier basins. Spectrum’s extensive 2D library also furthers TGS’s data analytics strategy, where access to large amounts of data is a key success factor.”

Final closing of the transaction is expected in the third quarter of 2019.

For further information on the merger, including expected timing and remaining conditions, see the announcement on 20 May 2019 available on www.newsweb.no and www.tgs.com.