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Restricted shares received by Directors
ASKER, NORWAY (7 May 2015) - The Annual General Meeting of TGS held on 6 May 2015 decided that each of the Directors, other than the Chairman, should receive 1,650 restricted shares in the Company on 7 May 2015 as part of their compensation. One of the Directors is not permitted by own employer to own shares in other companies. This Director will receive cash in lieu of the restricted shares in an amount equal to the amount the other Directors will be able to sell their restricted shares for at the closing share price on the first day that a sale is permitted. The shares have been transferred to the Directors today, 7 May 2015.
The attachment shows the number of restricted shares awarded on 7 May 2015 and the total number of shares held by each of the Directors.
The Company has distributed the restricted shares to the Directors from its balance of treasury shares. Following the transfer of restricted shares to the Directors, TGS holds 1,911,862 of the issued shares as treasury shares.
www.tgs.com
For additional information about this press release please contact:
COO/Interim CFO
Cell: +47 47 60 33 34
Email: kristian.johansen@tgs.com
Director Finance Western Hemisphere & Investor Relations
Tel: +1 713 860 2184
Email : will.ashby@tgs.com
This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)
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Attachment(s)
http://hugin.info/86869/R/1919920/687654.pdf
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