Based on the power of attorney granted at the annual general meeting of EMGS on 21 June 2013, the Board of Directors of EMGS has in board proceedings 16 September 2013 approved a share issue of 348,000 shares, each with a face value of NOK 0.25 at the option price of NOK 4.28 per share for 98,000 of the new shares and NOK 5.77 for 250,000 of the new shares. As a result, the share capital will be increased by NOK 87,000 from NOK 49,748,013.75 to NOK 49,835,013.75. The number of shares after the issue is 199,340,055.
The share issue is completed through exercising of stock options in connection with EMGS' stock option program.
Contacts
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.