Extraordinary General Meeting Completed

The shareholders meeting resolved to approve the private placement raising gross proceeds of approximately NOK 1.9 billion (approximately USD 225 million) and authorized a subsequent offering. 

December 14, 2016: Oslo, Norway, Petroleum Geo-Services ASA ('PGS' or the 'Company') held its Extraordinary General Meeting today at the Company's premises in Oslo.

The Extraordinary General Meeting resolved to approve the private placement, which was fully subscribed on November 23, 2016 raising gross proceeds of approximately NOK 1.9 billion (approximately USD 225 million) through a placement of 85 500 00 new shares at a subscription price of NOK 22.50 per share.

The Extraordinary General Meeting also authorized a subsequent offering of up to 13 500 000 new shares at a subscription price of NOK 22.50 per share for gross proceeds of approximately NOK 300 million (approximately USD 35 million).

The minutes from the Extraordinary General Meeting can be downloaded from the link below or at www.newsweb.no