Electromagnetic Geoservices ASA

AGM Information • Nov 26, 2015

EMGS - Minutes from extraordinary general meeting

EMGS - Minutes from extraordinary general meeting

EMGS - Minutes from extraordinary general meeting

Reference is made to the stock exchange announcement by Electromagnetic

Geoservices ASA (EMGS) on 5 November 2015 including calling notice to an

extraordinary general meeting (EGM) on 26 November 2015.

The EGM was held today and resulted in an approval of the proposed fully

underwritten rights issue, with the amendments described below relative to what

was described in the Calling notice for the EGM. The changes will have no impact

on existing shareholders' right to receive subscription rights or their

participation in the rights issue.

Sections 7, 8 and 9 to the resolution set out in item 4 were amended to read as

follows:

(7) Subscription of New Shares without Subscription Rights is allowed. Holders

of Subscription Rights may subscribe for a number of New Shares which exceeds

the number of Subscription Rights held.

(8) If not all Subscription Rights are validly exercised in the Subscription

Period, subscribers having exercised their Subscription Rights and who have

over-subscribed will have the right to be allocated remaining New Shares on a

pro rata basis based on the number of subscription rights exercised by the

subscriber. In the event that pro rata allocation is not possible, the Company

will determine the allocation by lot drawing.

(9) Any remaining new shares not allocated pursuant to the criteria set out in

section (8) above may be subscribed by and allocated to subscribers not having

Subscription Rights, in which case such New Shares will be allocated pro rata to

such subscribers' subscriptions. Any remaining new shares will be subscribed by

and allocated to the Underwriters to the extent the Underwriters have not

fulfilled their underwriting obligations through subscription for shares in the

Subscription Period, based on and in accordance with their respective

underwriting obligations.

More information regarding the Rights Issue will be announced closer to the

subscription period, which is expected to commence on 1 December 2015.

In addition, Stig Eide Sivertsen was elected as a member of the Board of

Directors of EMGS as from the time when he resigns and leaves his position as

CEO of the Company.

Please find enclosed the Minutes from the EGM.

For further information, please contact:

Charlotte Knudsen, EMGS head of investor relations, +47 97 56 19 59

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.

EMGS operates on a worldwide basis with main offices in Trondheim and Oslo,

Norway; Houston, USA; and Kuala Lumpur, Malaysia.

For more information, visit www.emgs.com

This information is subject of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

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