NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN, HONG KONG, SINGAPORE 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 58,634,735 new shares at a subscription price of NOK 2.45 per share (the “Rights Issue”).
The subscription period in the Rights Issue expired on 6 July 2017 at 12:00 CET. A total of 52,065,521 shares were subscribed for in the Rights Issue, and as a result the Underwriters will subscribe for the remaining 6,569,214 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 144 million through the issuance of 58,634,735 new shares.
Notifications of allocated new shares and the corresponding amount to be paid by each subscriber will be sent to the subscribers today, 7 July 2017. Subscribers having access to investor services through their VPS account will be able to check the number of new shares allocated to them from 12:00 CET today. Payment for the allocated new shares falls due on 11 July 2017.