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    PGS completes private placement

    Company News // November 16, 2015

    PGS has successfully raised approximately NKr 919.6 million in gross proceeds through a placement of 21,779,999 new shares and 1,800,000 treasury shares, towards Norwegian and international institutional investors, at a price of NKr 39 per share.

    The new shares to be issued represent approximately 9.99 per cent of the current issued share capital in the company.

    The proceeds will be used to strengthen the company's balance sheet and liquidity position as well as for general corporate purposes and will further strengthen the company's ability to take active part in, and benefit from, restructuring or distress driven opportunities emerging in the marine seismic industry.

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