CGG announces the approval of the
draft safeguard plan by creditors` committees in France
Paris, France - July 28, 2017
CGG and SELARL FHB, represented by Me Hélène BOURBOULOUX, in her capacity as judicial administrator appointed as such by a ruling of the commercial court of Paris dated 14 June 2017, herein announce that in the framework of the meetings held on 28 July 2017 and convened by the latter, the lenders` committee unanimously approved the draft safeguard plan, and the bondholder general meeting at a majority of 93.5% of the creditors who cast a vote.
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 5,500 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).
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Source: CGG via GlobeNewswire