With reference to the power of attorney granted at the ordinary general meeting of EMGS on 1 March 2007, the board of Directors has in a board meeting 18 December 2007 approved a share issue of 445,800 shares, each with a face value of NOK 0.25. As a result, the share capital will be increased by NOK 111,450 from NOK 18,435,243.25 to NOK 18,546,693.25.
The share issue is completed through exercising of stock options in connection with EMGS` stock option program to key employees.
Remaining stock options granted to employees in the EMGS Group after this exercise are 2,220,300 with maturity within 23.11.2013.
The following primary insiders have decided to exercise options:
Andres Lozano
10,000 shares at a subscription price of NOK 10.95.
After the transaction Andres Lozano has 75,295 shares and 20,000 options.
Ståle Emil Johansen
35,000 shares at a subscription price of NOK 10.95.
15,000 shares at a subscription price of NOK 26.
After the transaction Ståle Emil Johansen has 576,214 shares and 80,000 options.
Bjarte Bruheim
205,000 shares at a subscription price of NOK 10.95.
50,000 shares at a subscription price of NOK 26.
After the transaction Bjarte Bruheim has 1,715,302 shares and 355,000 options.
Jens Danielsen
2,000 shares at a subscription price of NOK 26.
After the transaction Jens Danielsen has 5,009 shares and 6,000 options.
Svein Ellingsrud
50,000 shares at a subscription price of NOK 10.95.
20,000 shares at a subscription price of NOK 26.
After the transaction Svein Ellingsrud has 840,214 shares and 110,000 options.
Jo Stein Temre
15,000 shares at a subscription price of NOK 10.95.
10,000 shares at a subscription price of NOK 26.
After the transaction Jo Stein Temre has 124,784 shares and 30,000 options.
Cathrine Ringstad
2,000 shares at a subscription price of NOK 26.
After the transaction Cathrine Ringstad has 4,744 shares and 3,000 options.
An updated Company Certificate of Registration will be sent to OSE when received from the Register of business enterprises.
For further information, please contact:
Svein Knudsen, CFO, +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