Newsroom

Quarterly EBITDA sustained by solid multi-client sales; Year-to-date results in line with our full year outlook; Financial restructuring plan.

CGG announces that the general meeting of shareholders has approved all the resolutions required to implement the financial restructuring plan.

The general meeting of CGG which will be held on November 13, 2017 being crucial for the current restructuring process of CGG, the Company will ask for suspension of trading on the Company’s shares (ISIN : FR 0013181864), the 2019 Convertible Bonds (ISIN : FR 0011357664) and the 2020 Convertible Bonds (ISIN : FR 0012739548) from November 13, 2017, at 9am, until the close of the Paris and New York Stock exchanges.

CGG updated its voting form for the purpose of the extraordinary general meeting convened on second notice on November 13, 2017.

During today’s hearing, in order to take into account the extraordinary general meeting of the shareholders of CGG convened on second notice on November 13, 2017.

CGG announces that a quorum of 22.48% of the share capital was present at the general meeting of shareholders held today, which allowed to vote on the ordinary part of the agenda, i.e. mainly approval of the 2016 accounts.

CGG announces completion of the Pre-Stack Depth Migration (PSDM) of its Cairenn multi-client survey in the Porcupine Basin, west of Ireland. Cairenn is the first of a series of multi-client surveys that CGG has recently been acquiring in the area. PSDM products for its Galway survey will be delivered before the end of the year.

At the request of the French Autorité des Marchés Financiers, the Company states that today Dimensional Funds Advisors LLP informed them that they had crossed below the 1% thresholds of CGG capital and voting rights.

CGG has been awarded a contract by Côte d’Ivoire’s Direction Générale des Hydrocarbures (DGH) and PETROCI, the national oil company, to acquire with its local partner, Harvex Geosolutions, a multi-client program of gravity, gravity gradiometry and magnetic data over the Republic’s onshore and shallow offshore basins.