Investor FAQs
Is Global's stock publicly traded?

Global’s common stock was delisted from the New York Stock Exchange and currently trades on the over-the-counter markets under the ticker “GEGSQ”.

 

Why was Global's common stock delisted?

As you may know, on March 25, 2014, Global filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code.  As a result of the filing, under the rules of the New York Stock Exchange, trading in the common stock and depositary shares representing interests in preferred stock of Global was immediately suspended and a process was begun to delist the common stock and depositary shares.  Delisting of both the common stock and depositary shares became effective in August 2014.

Will Global's securities be relisted? What will happen to the Global stock that I own?

On September 24, 2014, Global filed a Plan of Reorganization and Disclosure Statement outlining the proposed treatment of all of the Company’s creditors, including stockholders.  While Global stock currently trades over-the-counter, if the proposed Plan of Reorganization is approved by the bankruptcy court, Global’s existing stock will be cancelled and Global will become privately-held.

Will I receive any compensation if the stock is cancelled?

If the proposed Plan of Reorganization is approved by the bankruptcy court, Global common stock will be cancelled upon the Company’s emergence from Chapter 11, and holders of Global common stock will receive no consideration or other value for any common stock they still hold at that time.

Will preferred stock be cancelled?

If the proposed Plan of Reorganization is approved by the bankruptcy court, Global preferred stock will be cancelled upon the Company’s emergence from Chapter 11, and holders of depositary shares representing interests in Global preferred stock will receive no consideration or other value for any such depositary shares  they still hold at that time.

What is the return for bondholders under the proposed Plan of Reorganization? Trade creditors? Vendors?

Global’s proposed Plan of Reorganization and Disclosure Statement outlines the treatment for each creditor group.  The filings can be found here:  Plan of Reorganization and Disclosure Statement

A table summarizing the recovery by class of creditors begins on page 6 of the Disclosure Statement and outlines the estimated recovery percentages under the Debtors’ proposed plan.  The table is not intended to encompass all the material included in the Plan of Reorganization or the Disclosure Statement and is not a guarantee of such recovery.  The table should be read in conjunction with the Plan of Reorganization and Disclosure Statement.

Bondholders, trade creditors, vendors and other parties that believe they are a creditor can find additional information at Global’s claims agent website http://cases.primeclerk.com/ggs

If you have additional questions on your potential treatment under the Plan, you can call Global’s restructuring hotline, toll-free in the U.S. at 855-650-7243, or internationally at 917-877-5964, or fill out this form http://cases.primeclerk.com/ggs/Home-SubmitInquiry.

Will you report quarterly earnings and host investor conference calls?

As part of the restructuring process, we will be required to periodically file certain financial results with the bankruptcy court.

We will not issue earnings press releases or hold quarterly conference calls during the restructuring process.

Who should I contact if I have additional questions?

Court documents and other relevant materials concerning the filings and Chapter 11 process can be found at http://cases.primeclerk.com/ggs. You can also call Global’s restructuring hotline, toll-free in the U.S. at 855-650-7243, or internationally at 917-877-5964.

Investors may also submit questions to ir@globalgeophysical.com.

 

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