Here are answers to some of the questions we encounter most frequently. If you can't find what you are looking for here, please contact our Investor Relations department.
Company Questions
- What is the history of CGGVeritas?
- Where are the world headquarters of CGGVeritas?
- How many people does CGGVeritas employ worldwide?
Stock Questions
- On what stock exchange is CGGVeritas listed and what is the symbol?
- Where and when will CGGVeritas hold its next annual shareholders meeting?
- What is a CGGVeritas ADS/ADR?
- Is CGGVeritas subject to SEC reporting requirements?
Practical Questions
- When does the CGGVeritas fiscal year begin and end?
- When do you announce your financial results?
- In what currency and financial language does CGGVeritas report?
- Who should I contact?
Company Questions
CGG and Veritas DGC merged on January 12, 2007 to form CGGVeritas, the global leader in the seismic industry.
CGG was founded in 1931 by the Schlumberger brothers in Paris, France and was listed on Paris Stock Exchange in 1983 followed by listing on the New York Stock Exchange in 1997.
The origins of Veritas DGC go back to the creation of Digicon and Veritas. Digicon was founded in 1965 when six engineers and a geophysicist, who shared a vision of bringing digital computing technology to the geophysical industry, formed Digital Consultants Inc., a Houston-based company.
The history of Veritas also goes back to 1965 and a chance meeting between Dave Robson and a geophysicist, Rafael Cruz, working in the area. In 1974, Dave created the new Calgary-based company, named Veritas. Veritas and Digicon merged in 1996 to form Veritas DGC Inc.
Worldwide Headquarters:
CGGVeritas
Tour Maine-Montparnasse33, avenue du Maine75755 Paris cedex 15France
Eastern Hemisphere HQ:
CGGVeritas Services1, rue Léon Migaux
91341 Massy CedexFrance
Western Hemisphere HQ:
CGGVeritas
10300 Town Park Drive
Houston, TX 77072
U.S.A.
As of December 31, 2010, CGGVeritas employs approximately 7,264 people worldwide.
Stock Questions
Euronext: GA | ISIN Code: FR0000120164
New York Stock Exchange: CGV | Cusip: 204386106
New York Stock Exchange: CGV | Cusip: 204386106
The next Annual General Meeting will be held on May 4, 2011 in Paris.
An American Depositary Share, or ADS, is a security that allows shareholders in the United States to more easily hold and trade interests in foreign-based companies. ADSs are often evidenced by certificates known as American Depositary Receipts, or ADRs (more about ADRs). CGGVeritas is a French company that issues ordinary shares that are equivalent in many respects to common stock of a U.S. company. Each CGGVeritas ADS represents one ordinary share.
CGGVeritas ordinary shares are listed in euros on the Euronext Paris SA, which is the French national stock exchange.
CGGVeritas is subject to the reporting requirements under the Exchange Act applicable to foreign private issuers. CGGVeritas is required to file its annual report on Form 20-F with the SEC within six months after the end of each fiscal year. In addition, CGGVeritas must furnish reports on Form 6-K to the SEC regarding certain information required to be publicly disclosed by CGGVeritas in France or is filed with Euronext Paris SA, or regarding information distributed or required to be distributed by CGGVeritas to its shareholders.
CGGVeritas is exempt from certain rules under the Exchange Act, including the proxy rules which impose certain disclosure and procedural requirements for proxy solicitations under Section 14 of the Exchange Act. Moreover, CGGVeritas is not required to file periodic reports and financial statements with the SEC as frequently or as promptly as U.S. companies whose securities are registered under the Exchange Act; is not required to file financial statements prepared in accordance with U.S. GAAP; and is not required to comply with Regulation FD, which addresses certain restrictions on the selective disclosure of material information.
In addition, among other matters, CGGVeritas’ officers, directors and principal shareholders are exempt from the reporting and 'short-swing' profit recovery provisions of Section 16 of the Exchange Act and the rules under the Exchange Act with respect to their purchases and sales of CGGVeritas ordinary shares. If CGGVeritas loses its status as a foreign private issuer, it will no longer be exempt from such rules and, among other things, will be required to file periodic reports and financial statements as if it were a company incorporated in the United States.
Practical Questions
Our fiscal year is aligned with the calendar year and begins on January 1 and ends on December 31.
When do you announce your financial results?
We announce our financial results in May for the first quarter, end of July for the second quarter, November for the third quarter, and March for the fourth quarter and year-end results.