PGS ASA: New Share Capital Registered

Source: www.gulfoilandgas.com 8/16/2022, Location: Europe

Reference is made to the stock exchange announcement on 11 August 2022 made by PGS ASA (“PGS” or the “Company”) regarding the conversion of NOK 75,712,893 into 25,237,631 new shares in the Company at a conversion price of NOK 3.00 per share. (the “Conversion”) pursuant to the convertible bond loan with ISIN NO0010920697 issued in Q1 2021 (the “Bond Loan”).

The share capital increase pertaining to the Conversion has now been registered with the Norwegian Register of Business Enterprises. The new share capital of the Company is NOK 2,040,899,142 comprising 680,299,714 shares, each with a nominal value of NOK 3.00.

The Company expects that the record date for the conversion will be 23 August 2022 and settlement date to be 25 August 2022. Following completion of the Conversion there will be no bonds outstanding under the Bond Loan.:


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