Commencement of the subscription period in the Subsequent Offering


1 July, 2022


Reference is made to the inventory trade announcement made by PGS ASA (“PGS” or the “Company”) on 29 June 2022 relating to a subsequent providing (the “Subsequent Offering) of as much as 38,155,803 new shares at a subscription worth of NOK 3.70 (the “Offer Shares”) and the approval and publication of a prospectus pertaining to the Subsequent Offering.

The subscription period for the Subsequent Offering will start in the present day 1 July 2022 at 09:00 (CEST) and can shut on 15 July 2022 at 12:00 (CEST).

The Subsequent Offering is directed in the direction of eligible shareholders in PGS who (i) had been shareholders in the Company as of 3 May 2022, as registered in PGS’ register of shareholders with the Norwegian Central Securities Depositary (Nw. Verdipapirsentralen), Euronext Securities Oslo (the “VPS“) on 5 May 2022 (the “Record Date”), (ii) weren’t allotted new shares in the personal placement resolved by the extraordinary common assembly held on 27 May 2022, and (iii) will not be resident in a jurisdiction the place such providing could be illegal or, for jurisdictions apart from Norway, would require any prospectus, submitting, registration or comparable motion. Eligible shareholders shall be entitled to allocation of 0.13803 non-tradable allocation rights to subscribe for, and, upon subscription, be allotted new shares, for every share held in the Company on the Record Date (the “Subscription Rights”), rounded right down to the nearest complete Subscription Right. Each subscription proper offers, topic to relevant regulation, a proper to subscribe for and be allotted one Offer Share. Over-subscription is permitted, however subscription with out subscription rights shouldn’t be permitted.

Reference is made to the Prospectus dated 29 June 2022 accessible on for additional data and the phrases and circumstances for the Subsequent Offering.

Carnegie AS is appearing as supervisor (the “Manager“) in the Subsequent Offering and Advokatfirmaet BAHR AS is appearing as authorized advisor to the Company.


Bård Stenberg, VP IR & Corporate Communication

Mobile:  +47 99 24 52 35


PGS and its subsidiaries is a completely built-in marine geophysical firm that gives a broad vary of seismic and reservoir companies, together with knowledge acquisition, imaging, interpretation, and area analysis. Our companies are supplied to the oil and fuel business, in addition to to the broader and rising new power industries, together with carbon storage and offshore wind. The group operates on a worldwide foundation with headquarters in Oslo, Norway and the PGS share is listed on the Oslo inventory trade (OSE: PGS). For extra data on PGS go to


This announcement shouldn’t be and doesn’t kind a component of any supply to promote, or a solicitation of a suggestion to buy, any securities of PGS. The distribution of this announcement and different data could also be restricted by regulation in sure jurisdictions. Copies of this announcement will not be being made and might not be distributed or despatched into any jurisdiction in which such distribution could be illegal or would require registration or different measures. Persons into whose possession this announcement or such different data ought to come are required to tell themselves about and to look at any such restrictions.

The securities referred to in this announcement haven’t been and won’t be registered beneath the U.S. Securities Act of 1933, as amended (the “Securities Act”), and accordingly might not be supplied or offered in the United States absent registration or an relevant exemption from the registration necessities of the Securities Act and in accordance with relevant U.S. state securities legal guidelines. The Company doesn’t intend to register any half of the providing or their securities in the United States or to conduct a public providing of securities in the United States. Any sale in the United States of the securities talked about in this announcement shall be made solely to “certified institutional consumers” as outlined in Rule 144A beneath the Securities Act.

In any EEA Member State, this communication is simply addressed to and is simply directed at certified traders in that Member State inside the that means of the Prospectus Regulation, i.e., solely to traders who can obtain the supply with out an  authorized prospectus  in such  EEA Member  State. The expression “Prospectus Regulation” means Regulation 2017/1129 as amended along with any relevant implementing measures in any Member State.

This communication is simply being distributed to and is simply directed at individuals in the United  Kingdom which can be (i) funding professionals falling inside Article 19(5) of the Financial Services  and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the “Order”) or (ii) excessive internet price entities, and different individuals to whom this announcement might lawfully be communicated, falling inside Article 49(2)(a) to (d) of the Order (all such individuals collectively being known as “related individuals”). This communication should not be acted on or relied on by individuals who will not be related individuals. Any funding or funding exercise to which this communication relates is accessible just for related individuals and shall be engaged in solely with related individuals. Persons distributing this communication should fulfill themselves that it’s lawful to take action.

Matters mentioned in this announcement might represent forward-looking statements. Forward-looking statements are statements that aren’t historic info and could also be recognized by phrases similar to “imagine”, “anticipate”, “anticipate”, “technique”, “intends”, “estimate”, “will”, “might”, “proceed”, “ought to” and comparable expressions. The forward-looking statements in this launch are primarily based upon numerous assumptions, many of that are primarily based, in flip, upon additional assumptions. Although the Company imagine that these assumptions had been cheap when made, these assumptions are inherently topic to important recognized and unknown dangers, uncertainties, contingencies and different necessary components that are troublesome or unattainable to foretell and are past its management.

Actual occasions might differ considerably from any anticipated improvement as a result of a quantity of  components, together with with out limitation, adjustments in public sector funding ranges, adjustments in the  common financial, political and market circumstances in the markets in which the Company function, the Company’s skill to draw, retain and encourage certified personnel, adjustments in the Company’s skill to interact in commercially acceptable acquisitions and strategic investments, and adjustments  in legal guidelines and regulation and the potential influence of authorized proceedings and actions. Such dangers, uncertainties, contingencies and different necessary components may trigger precise occasions to vary materially from the expectations expressed or implied in this launch by such forward-looking statements. The Company doesn’t present any ensures that the assumptions underlying the forward-looking statements in this announcement are free from errors nor does it settle for any duty for the future accuracy of the opinions expressed in this announcement or any obligation to replace or revise the statements in this announcement to replicate subsequent occasions. You mustn’t place undue reliance on the forward-looking statements in this doc.

The data, opinions and forward-looking statements contained in this announcement communicate solely as at its date, and are topic to vary with out discover. The Company doesn’t undertake any obligation to evaluate, replace, affirm, or to launch publicly any revisions to any forward-looking statements to replicate occasions that happen or circumstances that come up in relation to the content material of this announcement.

Neither the Manager nor any of its associates make any illustration as to the accuracy or completeness of this announcement and none of them settle for any duty for the contents of this announcement or any issues referred to herein.

This announcement is for data functions solely and isn’t to be relied upon in substitution for the train of impartial judgment. It shouldn’t be meant as funding recommendation and in no way is it for use or thought of as a suggestion to promote, or a solicitation of a suggestion to purchase any securities or a suggestion to purchase or promote any securities in the Company. Neither the Manager nor any of its associates settle for any legal responsibility arising from the use of this announcement.

This data is topic to the disclosure necessities pursuant to Section 5-12 the Norwegian Securities Trading Act.

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