Petroleum Geo-Services ASA Consent Solicitation

 

NOTICE IS HEREBY GIVEN in respect of the U.S.$400,000,000 2.7 per cent Convertible Notes due 2012 (ISIN NO 0010402761) (the "Notes") issued by Petroleum Geo-Services ASA (the "Issuer") convertible into ordinary shares of the Issuer (of which U.S.$344,500,000 is currently outstanding),

 

That at a meeting held at 10.00 a.m. (London time) on 11 November 2009 of the holders of the Notes (the "Noteholders") constituted by a trust deed dated 20 December 2007 (the "Trust Deed") made between the Issuer and The Law Debenture Trust Corporation p.l.c. as trustee for the Noteholders,

 

The Extraordinary Resolution detailed in the Notice of Meeting dated 20 October 2009 was passed and will become effective upon the Instruction Fees having been paid in immediately available funds by the Issuer and delivered to the Tabulation Agent for payment to Noteholders who are eligible to receive them (such date of payment, the "Effective Date").

 

As directed pursuant to that Extraordinary Resolution, the Issuer and  the Trustee will, on the Effective Date, enter into the first supplemental trust deed, in the form of the draft presented to the Meeting.

 

 

 

Strandveien 4
P.O. Box 89
N-1325 Lysaker
Norway

 

Dated 11 November 2009

 

FOR DETAILS, CONTACT:

Tore Langballe, SVP Corporate Communications Phone:   +47 67 51 43 75 Mobile: +47 90 77 78 41   Bård Stenberg, Investor Relations Manager Phone: +47 67 51 43 16 Mobile: +47 99 24 52 35   US Investor Services Phone: +1 281 509 8712