Ferd AS has on December 11 2014 acquired 11 256 531
shares in Petroleum Geo-Services ASA (PGS). Ferd AS
holds an aggregate of 21 997 800 shares in PGS post
acquisition, corresponding to 10,1% of the shares.
Ferd AS has through the acquisition crossed the 5%
and the 10% threshold in PGS.
Ferd AS considers PGS to be a strong company that has
built a leading position over many years in the
seismic industry. Based on Ferd's assessment of PGS,
there are substantial underlying values in the
Company both in terms of a modern and cost-efficient
fleet, an attractive multiclient library and a strong
technology platform, making PGS well equipped to
continue to develop its position as a leading global
player also in a challenging market.
Ferd AS wishes to contribute actively to this
development, and will in an ordinary manner promote
their views to the Company's Nomination Committee.
Ferd AS is a Norwegian family owned industrial and
financial group that is an active and long term
investor in strong companies. Ferd has a solid
financial position with a value adjusted equity of
approximately NOK 25bn as of 30.06.14. www.ferd.no/en