Investor News Story

Spectrum ASA: Exercise of share options and mandatory notification of trades (2018-08-27T13:26:12 CET)

Reference is made to the stock exchange notice dated 27 August 2018 regarding the exercise of options and mandatory notification of trades on behalf of certain primary insider in Spectrum ASA
("SPU" or the "Company").

On 27 August 2018, 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
Kim Gunn Maver 112,000 60.62 8 000 0
Ian Setterfield 54,553 60.62 4 447 21 000
Duncan Woolmer 4,688 60.62 312 0
Eddie Pharr 23,442 60.62 1558 0
Bjarte Hetland Bakke 25,000 60.62 2000 0
Ian T. Edwards 13,970 60.62 1 030 85 000
Mike Mellen 10,190 60.62 4 810 85 000

In addition, the general counsel of the company, Mr. Svein Staalen, has bought a total of 3,217 shares in SPU at a price of NOK 60.62 per share in the market. Mr. Staalens total number of shares including this acquisition is 10 550 shares, each with a nominal value of NOK 1.0, constituting 0.02 % of the share capital.

For further information, please contact:

Henning Olset
, CFO
E-mail: henning.olset@spectrumgeo.com
Mobile: +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.