Newsroom

CGG announces that the approval of its safeguard plan by the Commercial Court of Paris on December 1st 2017 was upheld by a ruling rendered today by the Appeals Court of Paris, seized by a group of Convertible Bondholders that had launched a recourse against the draft plan.

Our first quarter results are in line with expectations, with solid revenue growth and an improvement in our EBITDAs margin compared to the first quarter of 2017. These results continue to confirm an upward trend initiated in 2017 that is bringing improved volumes to GGR and Equipment.

CGG's Board of Directors, meeting on April 26, 2018, elected Philippe Salle as Chairman of the Board of Directors. Sophie Zurquiyah took up her position of CEO of the Group and was appointed director by the general meeting on the same day.

CGG S.A. announces today the issuance by its wholly-owned indirect subsidiary, CGG Holding (U.S.) Inc., of $300 million in aggregate principal amount of 9.000% First Lien Senior Secured Notes due 2023 and €280 million in aggregate principal amount of 7.875% First Lien Senior Secured Notes due 2023 (together, the “Notes”).

CGG S.A. announces today that CGG Holding (U.S.) Inc., a wholly-owned indirect subsidiary of CGG S.A., has successfully priced an offering of $300 million in aggregate principal amount of 9.000% first lien senior secured notes due 2023 and €280 million in aggregate principal amount of 7.875% first lien senior secured notes due 2023.

As the terms of the existing first lien senior secured notes due 2023 issued as part of the restructuring plan provide a window to refinance them at par, CGG S.A.

CGG announced that its Document de référence and report on Form 20-F for 2017 were filed on Thursday, March 29, 2018, with the Autorité des Marchés Financiers (AMF) and the SEC respectively.

Sercel announced today the delivery of a 25,000-channel 508XT land seismic acquisition system and 15 Nomad 65 Neo broadband vibrators to Algeoland, Algeria’s leading private geophysical company.

Following the press release from December 4, 2017 in which CGG announced the launch of the search for a new CEO, to replace Mr Jean-Georges Malcor, who has decided not to pursue his mandate once the restructuring process is completed; the Board of Directors, after its March 23 meeting, announces the appointment of Mrs Sophie Zurquiyah as CEO. This nomination should be effective at the end of the annual general meeting to be held on April 26, 2018.