Electromagnetic Geoservices ASA

Regulatory Filings • Apr 20, 2018

Mandatory Notification of Trade

Mandatory Notification of Trade

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. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER TO BUY, SELL OR SUBSCRIBE FOR ANY SECURITIES DESCRIBED HEREIN.

PRIMARY INSIDER NOTIFICATION:

Reference is made to the stock exchange notifications published by Electromagnetic Geoservices ASA ("EMGS" or the "Company") pertaining to the Comprehensive Refinancing, including the stock exchange notifications published on 16 April 2018 and 19 April 2018.

On 20 April 2018, Siem Investments Inc. ("Siem Investments"), a primary insider of EMGS and an Underwriter of the Rights Issue and the Bond Issue, made the following subscriptions:

1. A subscription for 9,458,017 new shares in the Rights Issue at the Rights Issue subscription price of NOK2.45 per new share. Following this subscription, Siem Investments holds -0- Subscription Rights in the Rights Issue.

2. A subscription for 77,740 convertible bonds in the Bond Issue, at the Bond Issue subscription price of USD100 per bond, which corresponds to an aggregate subscription in the Bond Issue of USD7,774,000-.

Prior to the Rights Issue subscription and the allocation, issuance and delivery of the new shares subscribed for, Siem Investments is the holder of 21,869,450 shares in EMGS, or 23.9% of the total issued and outstanding shares of EMGS, and NOK91,000,000- of the existing senior unsecured callable bond issue 2013/2019 of EMGS with ISIN NO 001 068 2537.

An updated overview of the total holding of shares and bonds will be published following the completion of the Rights Issue and the Bond Issue.

This information is subject of the disclosure requirements pursuant to section 4-2 of the Norwegian Securities Trading Act.