EMGS: Mandatory notification of trade
Reference is made to the stock exchange notification published by Electromagnetic Geoservices ASA ("EMGS" or the "Company") on 14 May 2018 pertaining to the voluntary Bond Buy-Back under the Existing Bond Issue.
On 16 May 2018, Siem Investments Inc. ("Siem Investments"), a primary insider of EMGS, offered bonds under the Bond Buy-Back with a total nominal value of NOK 91.0 million. The bonds offered by Siem Investments will be repurchased by EMGS, for immediate discharge, at the Bond Buy-Back offer price of 103% of the par value, plus accrued but unpaid interest up until, but not including, the settlement date under the Bond Buy-Back.
Following completion of the Bond Buy-Back, which is expected to take place on or about 22 May 2018, Siem Investments will hold zero (0) bonds in the Existing Bond Issue.
This information is subject of the disclosure requirements pursuant to section 4-2 of the Norwegian Securities Trading Act.
For further information, please contact:
Hege Veiseth, CFO, +47 99 21 67 43
EMGS, the marine EM market leader, uses its proprietary electromagnetic (EM) technology to support oil and gas companies in their search for offshore hydrocarbons. EMGS supports each stage in the workflow, from survey design and data acquisition to processing and interpretation. The Company's services enable the integration of EM data with seismic and other geophysical and geological information to give explorationists a clearer and more complete understanding of the subsurface. This improves exploration efficiency and reduces risks and the finding costs per barrel.
EMGS operates on a worldwide basis with offices in Trondheim, Oslo, Houston, Villahermosa, Rio de Janeiro and Kuala Lumpur.
For more information, visit www.emgs.com