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Oslo, 20 May 2019 – Following the announcement on 2 May 2019 that TGS-NOPEC Geophysical Company ASA ("TGS") and Spectrum ASA ("Spectrum") plan to merge, the two companies today announced that their respective boards of directors have unanimously approved and decided upon a final merger agreement and merger plan in line with the terms previously announced.
The merger plan will now be submitted to and registered by the Norwegian Register of Business Enterprises. The merger plan (with appendices) is attached to this notice here along with previous TGS annual reports (Annual report 2016, Annual report 2017, Annual report 2018).
Completion of the merger is subject to approval by extraordinary general meetings in TGS and Spectrum, expected to be held on or about 21 June 2019. Notices for the general meetings will be sent to shareholders soon. As previously reported, Spectrum shareholders representing more than 34% of the company's shares, have given their support to the transaction and undertaken to vote their shares in favor thereof.
For further information on the transaction, including strategic rationale, information on the two companies and the transaction terms, please see the announcement of 2 May 2019 or view on www.newsweb.no.
For additional information about this press release, please contact:
Sven Børre Larsen Chief Financial Officer, Tel: +47 90 94 36 73, Email: firstname.lastname@example.org.