Kiltearn Partners LLP act as an Investment Manager for
a number of commingled funds and separate accounts
(our "Clients"). In acting for our Clients, we are
given full discretion over their investments.
However, we do not act as their Custodian, and
therefore shares are not held in our name, but in the
nominee name of their Custodian Bank.
As a result of the recent private placement of new
shares in Petroleum Geo-Services, this has resulted in
our having control over the following shares and
voting rights (also see attached):
KILTEARN 18 990 396
KILTEARN VOTING RIGHTS 18 990 396
Our records show that Petroleum Geo-Services ASA
(ISIN: NO0010199151) has the following issued ordinary
shares: Petroleum Geo-Services ASA (ISIN: NO0010199151)
239 579 996
Our records show that Petroleum Geo-Services ASA
(ISIN: NO0010199151) has the following voting
entitlements: Petroleum Geo-Services ASA (ISIN:
NO0010199151) 239 579 996
As a result, we exercise control over 7.93% of the
shares and 7.93% of the voting entitlements. The
Kiltearn Global Equity Fund now exercises control over
4.98% of the shares and voting entitlements as shown
overleaf.