CGG: to Apply for the Delisting of its American Depositary Shares from the New York Stock Exchange and Deregistration with th...
September 11 2018 - 1:31AM
CGG to Apply for the Delisting of its American
Depositary Shares from the New York Stock Exchange and
Deregistration with the Securities and Exchange Commission
Paris, France - September 11, 2018CGG S.A. ("CGG") today
announces that the Board of Directors has unanimously approved the
voluntary delisting of its American Depositary Shares ("ADSs") from
the New York Stock Exchange ("NYSE") and its voluntary
deregistration with the United States Securities and Exchange
Commission ("SEC"). CGG believes that the costs associated with
continuing the listing and registration of its ADSs exceed the
benefits received by CGG, as the primary market for CGG shares is
Euronext Paris.
Accordingly, CGG intends to file a Form 25 with
the SEC on September 21, 2018 to effect the delisting with the NYSE
and intends to file a Form 15F with the SEC on October 1, 2018 to
terminate its SEC reporting obligations and the registration of its
ADSs under the Securities Exchange Act of 1934, as amended.
The termination of the registration of its ADSs
will become effective 90 days after the date of filing of the Form
15F with the SEC or such shorter period as the SEC may determine.
However, as a result of the filing of a Form 15F, CGG's
obligation to file certain reports, including its obligation to
file annual reports on Form 20-F and to furnish reports on Form 6-K
with the SEC will be immediately suspended.
Following delisting of the ADSs from the NYSE,
CGG intends to maintain its American Depositary Receipt program at
"level one". This will enable investors to retain their ADSs and
facilitate trading on the U.S. over-the-counter market. The
depositary of CGG's ADR program will remain The Bank of New York
Mellon.
Following deregistration and delisting, CGG will
continue to publish its financial reports, statements and press
releases in English.
About CGG
CGG (www.cgg.com) is a fully integrated
Geoscience company providing leading geological, geophysical and
reservoir capabilities to its broad base of customers primarily
from the global oil and gas industry. Through its three
complementary businesses of Equipment, Acquisition and Geology,
Geophysics & Reservoir (GGR), CGG brings value across all
aspects of natural resource exploration and exploitation. CGG
employs around 5,300 people around the world, all with a Passion
for Geoscience and working together to deliver the best solutions
to its customers.
CGG is listed on the Euronext Paris SA (ISIN:
0013181864) and the New York Stock Exchange (in the form of
American Depositary Shares. NYSE: CGG).
Contacts
Group
Communications Christophe BarniniTel: + 33 1 64 47 38
11E-Mail: : invrelparis@cgg.com |
Investor RelationsCatherine LeveauTel: +33 1 64 47 34
89E-mail: : invrelparis@cgg.com |
- Press release pdf version.pdf