Share Facts

As of December 31, 2019 PGS had 338 579 996 shares outstanding, including American Depository Receipts (“ADRs”). Each share has a par value of NOK 3. The ticker code for PGS at the Oslo Stock Exchange is “PGS” and the shares are denominated in Norwegian kroner (“NOK”).

The Company’s ADR is traded over the counter in the US, have the ticker code “PGSVY” and are denominated in US dollars (“USD”). The ADR is the actual physical certificate confirming ownership of American Depository Shares (“ADS”). The term ADR is often used for both the certificates and the securities themselves.

On average, approximately 3.3 million PGS shares were traded daily on the Oslo Stock Exchange in 2019. The liquidity of PGS’ ADR is significantly lower; the average daily ADR trading volume was approximately 6 086 in 2019.

Shareholders

PGS had 6,462 shareholders on record as of December 31, 2019, according to the Norwegian Central Securities Depository (“VPS”). By year-end 2019 US based investors owned approximately 34% of the outstanding PGS shares. Norwegian based investors had the second largest holding and accounted for approximately 29% ownership, while UK based investors held approximately 18% of the outstanding shares. The remaining 19% were mainly held by investors in other Western European countries.

As of December 31, 2019, Coltrane Asset Management was the largest PGS shareholder, owning 52.1 million shares or 15.4% of the Company. As of year-end 2019, PGS held 1 739 own shares.

Distribution of Information and IR Activities

All Company information considered material to the capital markets is published via the Oslo Stock Exchange’s news service: www.newsweb. no, and posted on the Company’s website. PGS holds public presentations in connection with quarterly earnings releases, and management regularly meets with investors and participates at investor conferences.

Analyst Coverage

As of December 31, 2019, there were 18 sell-side analysts covering PGS on a regular basis, with market updates and estimates of PGS’ financial results. An updated list of analyst coverage is published on the Company’s website.

2020 Annual General Meeting

PGS’ 2020 Annual General Meeting is scheduled for April 22, 2020 at 15:00 CET at the Company’s headquarters at Lilleakerveien 4C, 0216 Oslo, Norway. Each PGS share is entitled to one vote. Please note that Norwegian regulations stipulate that shares must be registered in the name of a specific owner in order for that person (or duly authorized agent) to be allowed to vote. Shareholders who wish to attend the Annual General Meeting are requested to pre-register via the Company’s registrar. The registrar’s contact information follows:

DNB Bank ASA
Registrar Services
PO Box 1600 Sentrum
NO-0021 Oslo, Norway
Phone: +47 23 26 80 20
Email: kua@dnb.no

Owners of ADRs can vote by surrendering their shares to the ADR depositary bank, Deutsche Bank, so that title to the shares in question is appropriately recorded in the share register maintained by Norway’s VPS prior to the meeting date.  

Contact Information for ADR Shareholders

The depositary bank for PGS’ ADR shares is Deutsche Bank; the contact information is as follows:

Deutsche Bank Shareholder Services
American Stock Transfer & Trust Company
6201 15th Avenue Brooklyn, NY 11219, USA
E-mail: db@astfinancial.com
Direct Dial: +1 718 921 8137

Corporate Credit Rating

PGS corporate rating is ‘B2’ from Moody’s with a Stable outlook. Fitch and S&P has a ‘B’ rating with a Stable outlook on PGS.

20 Largest PGS Shareholders*

^{*The data in the table above is provided by Q4 Inc. and is obtained through an analysis of beneficial ownership and fund manager information provided in replies to disclosure of ownership notices issued to all custodians in relation to the PGS share register provided by the Norwegian Central Securities Depository (VPS). Every reasonable effort has been made to verify the data, however neither PGS nor Q4 Inc. can guarantee the accuracy of the analysis.}

PGS Share Price Performance