Arrow Prospectus - PGS

ARROW SEISMIC ASA – INITIAL PUBLIC OFFERING
5.11 PAYMENT FOR THE ALLOCATED OFFER SHARES
In completing the Subscription Form, each subscriber in the Retail Offering authorises the Manager to debit the
subscriber’s Norwegian bank account for the total amount due for the Offer Shares allocated. The subscriber’s
account number must be stated on the Subscription Form. Debits will be made on or about 29 May 2007, and
there must be sufficient funds in the stated bank account from and including 29 May 2007. The payment in
respect of New Shares will be transferred to a blocked equity account of the Company, until the share capital
increase pertaining to the New Shares have been registered in the Norwegian Register of Business Enterprises.
The allocated Offer Shares are expected to be delivered against payment on or about 30 May 2007 for the
Institutional Offering. Payment in the Retail Offering is on or about 29 May 2007 and delivery is on or about 30
May 2007. There must be cover for the full amount on the specified bank account before it can be debited, i.e. on
29 May 2007. Applicants who do not have a bank account in Norway must contact the Managers well ahead of
the payment date in order to arrange for payment by other means as the Managers may instruct.
Should subscribers have insufficient funds in their accounts or should payment be delayed for any reason, or if it
is not possible to debit the accounts, penalty interest at a rate equal to the prevailing interest rate under the
Norwegian Act on Interest on Overdue Payments of 17 December 1976 No. 100, per the date of this Prospectus
being 10.50% per annum, will be payable on the amount due. The Managers reserve the right to make up to three
debits attempts within 14 June 2007 if there are insufficient funds on the account on the first debiting date.
Should payment not be made after the three debiting attempts, the Offer Shares allocated will not be delivered
physically to the subscriber, and the Managers reserves the right, at the risk and cost of the subscriber, to sell the
allocated Offer Shares on such terms and in such a manner as the Managers may decide, in accordance with
applicable law. The original subscriber remains liable for payment of the subscription price, together with any
interest, costs, charges and expenses accrued, and the Managers may enforce payment for any such amount
outstanding.
5.12 PAYMENT GUARANTEE
The Company has entered into an agreement with the Managers on 11 May 2007, whereby the Managers will
guarantee for timely settlement of all of the Offer Shares (the “Payment Guarantee”). Each of the Managers will
guarantee full payment for the Offer Shares issued through the Offering which have been subscribed through the
relevant Manager, as the case may be. The Payment Guarantee is conditional upon no “force majeure” event
having occurred on or before 28 May 2007 at 20.00 CET. The Managers are entitled to a guarantee commission
of 0.225 per cent with respect to their payment for delayed or missing payments in the Offering.
The following events shall constitute a “force majeure” event: (i) a banking moratorium declared in or
suspension or material limitation in trading in securities on a principal stock exchange in Oslo, London or New
York, (ii) a suspension or limitation in trading in the Company’s securities on any stock exchange or quotation
system, (iii) a material adverse change in the Company’s business, financial condition or results of operations,
(iv) the outbreak or escalation of hostilities or war or the declaration of a national emergency in Norway, the
United States or the United Kingdom, or (v) the occurrence of any material adverse change in Norwegian or
international financial, political or economic conditions.
5.13 DELIVERY OF THE ALLOCATED OFFER SHARES
Physical delivery of Offer Shares allotted in the Institutional Offering is expected to take place against payment
on 30 May 2007.
Offer Shares allotted in the Retail Offering are expected to be transferred to the investors’ VPS accounts on 30
May 2007 against payment 29 May 2007.
The New Shares are expected to be registered in the Norwegian Register of Business Enterprises on 29 May
2007. The New Shares may not be traded before registration of the share capital increase in the Company. First
day of trading is expected to be 30 May 2007. Applicants selling Offer Shares prior to physical delivery must
ensure that payment for such Offer Shares is made prior to the payment date set out in section 5.11 above.
Accordingly, an applicant who wishes to sell his Offer Shares before delivery must ensure that payment is made
in order for such Offer Shares to be delivered in time to the purchaser. For any sale prior to registration and
delivery, investors will in any event also need to ensure compliance with the Norwegian Securities Trading Act
section 8-7.
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