The PGS Share

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The PGS share is listed the Oslo Stock Exchange in Norway. Approximately 33% of the Company is owned by Norwegian investors, while UK and US based investors own 25% and 18% respectively. The rest is owned by investors mainly located in other Western European countries.

Share Facts

As of December 31, 2021 PGS, had 400 667 697 shares outstanding. 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”). On average, approximately 5.0 million PGS shares were traded daily on the Oslo Stock Exchange in 2021.

PGS has since it was de-listed from the New York Stock Exchange in 2007 issued and offered for trade share instruments being American Depositary Shares (“ADS”). As there has been low ADS trading volumes during recent years, the Company decided in 2021 to terminate the ADS program with effect from November 5, 2021. ADS holders will need to surrender their ADS for delivery of underlying PGS shares by May 5, 2022.


PGS had 8 926 shareholders on record as of December 31, 2021, according to the Norwegian Central Securities Depository (“VPS”). As of December 31, 2021, Coltrane Asset Management was the largest PGS shareholder, owning 63.9 million shares or 16.0% of the Company. As of year-end 2021, PGS held 590 of its 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 has a frequent dialog with investors and participates at investor conferences.

Analyst Coverage

As of December 31, 2021, there were 9 sell-side analysts with research coverage of PGS. An updated list of analyst coverage is published on the Company’s website.

2022 Annual General Meeting

PGS’ 2022 Annual General Meeting is scheduled for April 27. 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 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:

contact information follows:
Registrar Services
PO Box 1600 Sentrum
NO-0021 Oslo, Norway
Phone: +47 23 26 80 20

Owners of ADS can vote by surrendering their ADS to the ADS 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.

Corporate Credit Rating

Moody’s has a ‘Caa1’ corporate rating on PGS with Negative Outlook, and S&P has a CCC+ corporate rating also with Negative Outlook.

20 Largest PGS Shareholders*

  December 31, 2021
  Total number of shares Ownership in percent
Coltrane Asset Management LP 63 914 900 16.0
DNB Asset Management AS 29 024 749 7.2
M&G Investment Management Limited 26 931 374 6.7
Dimensional Fund Advisors LP 12 977 624 3.2
The Boeing Company Employee Retirement Plans Master Trust 12 885 165 3.2
Barclays Capital Inc. 7 951 764 2.0
Susquehanna International Group Ltd. 5 528 848 1.4
Monaco Asset Management SAM 5 187 082 13
Mats Geo AB 4 900 000 1.2
Credit Andorra 4 616 595 1.2
Andbank Wealth Management SGIIC SAU 4 311 590 1.1
Legal & General Investment Management Limited 4 213 000 1.1
Charles Schwab Investment Management, Inc. 4 171 008 1.0
Trefoil Capital Advisers 4 012 445 1.0
MH Capital A/S 3 983 490 1.0
Saxo Capital Markets UK Ltd 3 546 948 0.9
City of New York Group Trust 2 931 262 0.7
SPB A/S 2 811 435 0.7
UBS Switzerland AG (Investment Management) 2 622 999 0.7
American Century Investment Management Inc. 2 438 622 0.6
Other 191 706 797 47.8
Total 400 667 697 100.0


*The data 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.

Country Percentage
18% - USA 18
Norway - 33% 33
UK - 25% 25
Other - 24% 24
Country Percentage
Norway - 67% 67
UK - 11% 11
France - 22% 22