March 25, 2021; Oslo, Norway, reference is made to PGS ASA (the "Company")
convertible bond loan with ISIN NO0010920697 in the aggregate amount of NOK
116,162,097 issued in Q1 2021. The Company has received conversion notices from
convertible bondholders representing NOK 12 621 150 in this bond issue, which
pursuant to standard terms set out in the bond terms are convertible into
4 207 050 new freely tradable shares in the Company. After the conversion, the
remaining principal outstanding under the convertible bond loan amounts to NOK
103,540,947. The share capital increase pertaining to the conversion of
convertible bonds has today been registered in the Norwegian Register of
Business Enterprises (Nw.:Foretaksregisteret). The Company's new share capital
is NOK 1,174,242,138 divided into 391,414,046 shares, each with a nominal value
of NOK 3. The new shares will be listed on the Oslo Stock Exchange and will be
tradeable from the time at which they are issued in the VPS, expected to be 25
March 2021.
FOR DETAILS, CONTACT:
Bård Stenberg, VP IR & Corporate Communication
Mobile: +47 99 24 52 35