TGS Shares Received by Board of Directors
OSLO, Norway (13 May 2022) - The Annual General Meeting of TGS held on 11 May 2022, approved that each of the Directors should receive restricted shares in the Company as part of their compensation. The Chairman of the Board received 3300 shares and the other Directors 1650 shares each. The shares were transferred to the Directors on 13 May 2022. The Company has distributed the restricted shares to the Directors from its balance of treasury shares. Following the transfer of restricted shares to the Directors, TGS holds 1,542,953 of the issued shares as treasury shares.
Attached is the list of Directors showing the balance of TGS shares held after the issuance described above.
TGS provides scientific data and intelligence to companies active in the energy sector. In addition to a global, extensive and diverse energy data library, TGS offers specialized services such as advanced processing and analytics alongside cloud-based data applications and solutions.
Forward Looking Statement
All statements in this press release other than statements of historical fact are forward-looking statements, which are subject to a number of risks, uncertainties and assumptions that are difficult to predict, and are based upon assumptions as to future events that may not prove accurate. These factors include TGS' reliance on a cyclical industry and principal customers, TGS' ability to continue to expand markets for licensing of data, and TGS' ability to acquire and process data product at costs commensurate with profitability, as well as volatile market conditions, which have been exacerbated by the COVID-19 pandemic and the severe drop in oil prices. Actual results may differ materially from those expected or projected in the forward-looking statements. TGS undertakes no responsibility or obligation to update or alter forward-looking statements for any reason.