Reference is made to the resolution passed at the annual general meeting of Electromagnetic Geoservices ASA on 25 April 2017 to reduce the Company's share capital by NOK 295,147,251 by way of a reduction of the nominal value of the shares to NOK 1.00. The completion of the share capital reduction has today been registered with the Register of Business Enterprises. After the share capital reduction, the share capital of the Company is NOK 32,794,139 divided into 32,794,139 shares, each with a nominal value of NOK 1.00. The capital reduction has been carried out by way of a transfer to other paid in equity, and no distribution is being carried out in connection with the share capital reduction.
Contact
Hege Veiseth, CFO, +47 992 16 743
About EMGS
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
Contact
Hege Veiseth, CFO, +47 992 16 743
About EMGS
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
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.