EMGS publishes Buy-Back Offer Document related to FRN Electromagnetic Geoservices ASA Senior Unsecured Convertible USD 32,500,000 Bonds 2018/2023
December 16 2021 - 2:00PM
EMGS publishes Buy-Back Offer Document related to FRN
Electromagnetic Geoservices ASA Senior Unsecured Convertible USD
32,500,000 Bonds 2018/2023
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN
PART, DIRECTLY OR INDIRECTLY, TO U.S. NEWS WIRE SERVICES, IN OR
INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, HONG KONG,
SINGAPORE OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR
RELEASE WOULD BE UNLAWFUL. FURTHER RESTRICTIONS ARE APPLICABLE, AS
DESCRIBED IN THE ATTACHED BUY-BACK OFFER DOCUMENT.
Reference is made to the stock exchange notification published
by Electromagnetic Geoservices ASA (“EMGS” or the “Company”) on 16
December 2021 wherein the Company announced its intention to launch
a voluntary, partial buy-back of bonds with an aggregate nominal
value of up to USD 4,000,000 under the Company’s outstanding bond
issue FRN Electromagnetic Geoservices ASA Senior Unsecured
Convertible USD 32,500,000 Bonds 2018/2023.
EMGS has today published the attached Buy-Back Offer Document.
All capitalised terms used and not defined in this stock exchange
notification are references to those terms as defined in the
Buy-Back Offer Document.
The Buy-Back is offered to all Bondholders on equal terms. The
Buy-Back Offer Period will commence on 17 December 2021 at 09:00
CET and end on 22 December 2021 at 16:00 CET, and may be extended
by EMGS at its own discretion.
Announcement of the result of the Buy-Back is expected on or
about 23 December 2021 and the Buy-Back Settlement Date is expected
to be on or about 28 December 2021.
Further details regarding the Buy-Back, including the tendering
process and contact details for submission of the Bondholder Offer
Form, are set out in the Buy-Back Offer Document.
Contact Anders Eimstad, CFO, +47 948 25 836
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 explorationists a
clearer and more complete understanding of the subsurface. This
improves exploration efficiency and reduces risks and the finding
costs per barrel. CSEM technology can also be used to detect the
presence of marine mineral deposits (primarily Seabed Massive
Sulphides) and EMGS believes that the technology can also be used
to estimate the mineral content of such deposits. The Company is
undertaking early-stage initiatives to position itself in this
future market.
This information is subject to the disclosure requirements
pursuant to Section 5-12 the Norwegian Securities Trading Act
- 16 December 2021 ISIN NO 0010821010 Bond Repurchase EMGS
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