Based on the power of attorney granted at the annual general meeting of EMGS on 13 June 2012, the Board of Directors of EMGS has in board proceedings on 14 December 2012 approved a share issue of 4,000 shares, each with a face value of NOK 0.25 at the option price of NOK 4.28 per share for 3,000 of the new shares and NOK 5.77 for 1,000 of the new shares. As a result, the share capital will be increased by NOK 1,000 from NOK 49,719,013.75 to NOK 49,720,013.75. The number of shares after the issue is 198,880,055.
The share issue is completed through exercising of stock options in connection with EMGS's stock option program.
Contact
Svein Knudsen, EMGS chief financial officer, +47 22 01 14 00
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 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 has conducted more than 650 surveys to improve drilling success rates across the world's mature and frontier offshore basins. The company operates on a worldwide basis with main offices in Trondheim, Stavanger and Oslo, Norway; Houston, USA; and Kuala Lumpur, Malaysia. Please visit www.emgs.com for more information.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.