On 11 February 2016, Electromagnetic Geoservices ASA (EMGS) announced that the Board of Directors would propose to the Annual General Meeting (AGM) to do a reverse share split of 1 to 40 shares with a par value of NOK 10.00. The reverse share split was approved at the Company's AGM on 9 June 2016, at which the Board was given the authority to determine the date of the reversed share split.
On 28 June 2016, the Board of EMGS approved that Thursday 30 June 2016 is the last date on which the EMGS share is traded including the right to receive shares according to the exchange ratio for the reversed share split.
Please note the following key dates for the reversed share split by EMGS:
| Date/ event on which the corporate action was made public: | Fourth quarter results, 11 February 2016 |
| Reverse split ratio: | 40 old shares give 1 new share |
| Last day including right: | 30 June 2016 |
| Ex-date: | 1 July 2016 |
| Record date: | 4 July 2016 |
| Date of approval: | AGM, 9 June 2016 |
This information is published in accordance with the requirements of the Continuing Obligations.
Contact
Charlotte Knudsen, Head of Investor Relations, +47 9756 1959
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 the integration of EM data with seismic and other geophysical and geological information to give exploration experts a clearer and more complete understanding of the subsurface. This improves exploration efficiency and reduces risks and the finding costs per barrel.
EMGS operates on a worldwide basis with main offices in Trondheim and Oslo, Norway; Houston, USA; and Kuala Lumpur, Malaysia.
For more information, visit www.emgs.com