NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN, HONG KONG OR THE UNITED STATES.
Reference is made to the previous stock exchange announcements by
Electromagnetic Geoservices ASA (“EMGS” or the “Company”) regarding the rights
issue of 1,112,000,000 news shares at a subscription price of NOK 0.25 per share
(the “Rights Issue”).
The subscription period in the Rights Issue expired on 15 December 2015 at
12:00 CET. A total of 867,505,218 shares were subscribed for in the Rights
Issue, and as a result the Underwriters will subscribe for the remaining
244,494,782 shares. These remaining shares have been divided between the
Underwriters according to their respective underwriting obligations. The Rights
Issue will result in gross proceeds to the Company of NOK 278 million through
the issuance of 1,112,000,000 new shares.
Notifications of allocated new shares and the corresponding amount to be paid by
each subscriber will be sent to the subscribers today, 16 December 2015.
Subscribers having access to investor services through their VPS account will be
able to check the number of new shares allocated to them from 09:00 CET today.
Subscribers may also contact Carnegie at +47 22 00 93 60, from 09:00 CET today,
to obtain information about the number of new shares allotted. Payment for the
allocated new shares falls due on 18 December 2015.
The new shares may not be transferred or traded until they are fully paid by the
individual subscriber and the new shares have been registered with the Register
of Business Enterprises. Subject to payment being received when due, the new
shares are expected to be delivered to the respective subscribers’ VPS account
on or about 22 December 2015.
The new shares are expected to commence trading on Oslo Børs on or about 22
Following the registration of the new share capital in the Norwegian Register of
Business Enterprises, the Company will have 1,311,765,555 shares outstanding,
each with a par value of NOK 0.25.