(Stock exchange/press release - full version of the minutes in English and Norwegian are attached.)
On 27 November 2007, an Extraordinary General Meeting was held in Electromagnetic Geoservices ASA (EMGS) at Hotel Continental in Oslo.
1. Election of one person to countersign the minutes
Svein Knudsen was elected to countersign the minutes from the meeting together with the chairperson of the meeting.
2. Election of board members
As of 1 December 2007 the Board of the Company will consist of the following directors elected by the shareholders, which will be in addition to the directors, deputies and observers appointed by the employees of the Company:
Bjarte Bruheim Chairperson
Grethe Høiland Director (new)
Berit Svendsen Director (new)
Christopher Alan Wright Director
Jeffrey Alan Harris Director
David Benjamin Krieger Director
Trine Sæther Romuld Director
Grethe Høiland
Grethe Høiland is Managing Director of Lyse (Nett) AS. Høiland is a Graduate Engineer in Electrical Power Engineering from the Norwegian Institute of Technology (NTH) and has completed a Foundation Program in Business Administration at BI Norwegian School of Management. She has broad experience from senior executive posts in the energy sector, including in Statoil and has served on a number of boards.
Berit Svendsen
Berit Svendsen is head of Telenor's Nordic fixed line operation. She is a Graduate Engineer from the Norwegian Institute of Technology (NTH), Department of Computer Science and Telematics. She has completed a Master of Technology Management from NTNU in cooperation with NHH/Massachusetts Institute of Technology and Sloan School of Management. Svendsen has broad experience from senior executive posts in Telenor since 1988, including the position as CTO, and has served on a number of boards.
3. Approvals
a. Contract between the Company and the chairperson
The Extraordinary General Meeting approved the draft contract that was attached to the calling notice, and decided that the Company shall enter into the contract with the chairperson Bjarte Bruheim.
b. Compensation for the members of the board of directors
The Extraordinary General Meeting approved the compensation for Bjarte Bruheim, as suggested in Appendix I of the calling notice's exhibit 1.
The Extraordinary General Meeting approved payment of a fixed quarterly remuneration for board members, except the chairperson, as set out in the calling notice.
For further information, please contact:
Bjarte Bruheim, Chairman of the Board, tel +47 73 56 88 10
About EMGS
EMGS is the market leader in deep electromagnetic (EM) imaging. The company spawned the EM imaging industry in 2002 with the commercialisation of seabed logging, a proven exploration method that uses EM energy to find offshore hydrocarbons without drilling wells. This proprietary and patented technology has been developed over the past 10 years, and its ability to indicate hydrocarbons directly is enabling EMGS' customers to dramatically improve their exploration performance in frontier and mature provinces. EMGS employs over 250 people from three main offices in Trondheim, Norway; Houston, USA; and Kuala Lumpur, Malaysia. The company operates the world's largest seabed-logging vessel fleet, and has, since its incorporation in 2002, conducted more than 300 surveys for many of the world's leading energy companies.
