Conversion of shares - USD 5 million convertible bond loan (9% EMGS ASA Senior Unsecured Convertible Bond Issue 2009/2011)
Electromagnetic Geoservices ASA (EMGS) has received a request from bondholders
to convert bonds amounting to USD 4,200,000 to 4,883,721 shares at USD 0.86 per
share. The nominal value of this convertible bond will consequently be reduced
to USD 800,000.
The Company's share capital is presently NOK 38,456,065.25 divided into
153,824,261 shares, each with a par value of NOK 0.25. After the conversion,
EMGS will have 158,707,982 shares and a share capital of NOK 39,676,995.50.
EMGS will inform the marked as soon as the new share capital has been
Roar Bekker, EMGS chief executive officer, +47 22 01 14 00
Svein Knudsen, EMGS chief financial officer, +47 22 01 14 00
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
integration of EM data with seismic and other geophysical and geological
information to give explorationists a clearer and more complete understanding of
the subsurface. This improves exploration efficiency, and reduces risks and the
finding costs per barrel.
EMGS has conducted more than 500 surveys to improve drilling success rates
across the world's mature and frontier offshore basins. The company operates on
a worldwide basis with main offices in Trondheim and Stavanger, Norway; Houston,
USA; and Kuala Lumpur, Malaysia. Please visitwww.emgs.com for more information.
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
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Source: EMGS via Thomson Reuters ONE