Reference is made to the stock exchange notice dated 21 February 2017 regarding the exercise of options and mandatory notification of trades on behalf of certain primary insider in Spectrum ASA ("SPU" or the "Company").
On 21 February 2017, the Company announced that certain primary insiders that exercised their options transferred their rights to receive shares resulting from the exercise of the options to a third party in order to sell all or portions of the shares resulting from the option exercise. The following sale of shares was made today by the primary insiders:
| Name | # Shares sold | Price per share | # shares after exercise and sale | # of options after exercise |
| Rune Eng | 615,000 | NOK 38 | 109,609 | 2,235,000 |
| Jan Schoolmeesters | 150,000 | NOK 38 | 34,461 | 755,000 |
| Svein Staalen | 77,668 | NOK 38 | 7,332 | 270,000 |
| Kim Gunn Maver | 96,629 | NOK 38 | 11,571 | 140,000 |
| Ian Setterfield | 48,414 | NOK 38 | 1,586 | 80,000 |
For further information, please contact:
Henning Olset; CFO
Email: Henning.Olset@Spectrumgeo.com
Mobile phone: +47 92 26 69 48
About Spectrum
Spectrum provides innovative Multi-Client seismic surveys and seismic imaging
services to the global oil and gas industry from offices in Norway, the UK, USA,
Brazil, Egypt, Australia, Indonesia and Singapore. Spectrum designs, acquires
and processes seismic data to deliver high quality solutions through its
dedicated and experienced workforce. Spectrum holds the world`s largest library
of Multi-Client 2D marine seismic data and a significant amount of 3D seismic.
The company`s strategy focuses on both the major, established hydrocarbon-
producing regions of the world as well as key frontier areas identified by our
experienced team of geoscientists. The Spectrum library of Multi-Client data
contains projects from many of the foremost oil producing regions of the world.
These include new acquisition, reprocessing and interpretation reports.
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Spectrum ASA via GlobeNewswire
HUG#2080329