Update on Regulatory Approvals Relating to the Merger with TGS

Source: www.gulfoilandgas.com 2/14/2024, Location: Europe

Reference is made to the joint stock exchange announcement on 18 September 2023 by TGS ASA and PGS ASA regarding the combination of the two companies (the "Merger") to establish the premier energy data company, as well as subsequent announcements on 25 October and 1 December 2023 regarding, respectively, the execution and approval of the definitive merger plan for the Merger.

The Merger is currently subject to ongoing review by the competition authorities in the UK, and in Norway, the Norwegian Competition Authority has resolved to continue its assessment of the transaction in a Phase II review.

Completion of the Merger remains conditional on the customary closing conditions described in the merger plan, including the remaining regulatory approvals set out above.

The statutory creditor notice period for the Merger has expired.

The parties still expect that completion of the Merger will occur during the second quarter of 2024, as previously communicated.


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