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 December 2015.
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.
For further information, please contact:
Charlotte Knudsen, EMGS head of investor relations, +47 97 56 19 59
Important information:
The release is not for publication or distribution, in whole or in part directly or indirectly, in or into Australia, Canada, Japan, Hong Kong or the United States (including its territories and possessions, any state of the United States and the District of Columbia).
This release is an announcement issued pursuant to legal information obligations, and is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. It is issued for information purposes only, and does not constitute or form part of any offer or solicitation to purchase or subscribe for securities, in the United States or in any other jurisdiction. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "Securities Act"). The securities may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act. The Company does not intend to register any portion of the offering of the securities in the United States or to conduct a public offering of the securities in the United States. Copies of this announcement are not being made and may not be distributed or sent into Australia, Canada, Japan, Hong Kong or the United States. The issue, exercise, purchase or sale of subscription rights and the subscription or purchase of shares in the Company are subject to specific legal or regulatory restrictions in certain jurisdictions. Neither the Company nor the Manager assumes any responsibility in the event there is a violation by any person of such restrictions.
The distribution of this release may in certain jurisdictions be restricted by law. Persons into whose possession this release comes should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction. Carnegie is acting for the Company and no one else in connection with the Offering and will not be responsible to anyone other than the Company for providing the protections afforded to their respective clients or for providing advice in relation to the Offering and/or any other matter referred to in this release.