Electromagnetic Geoservices ASA

Board/Management Information • Nov 11, 2015

The Board of EMGS appoints Christiaan A. Vermeijden as new CEO

The Board of EMGS appoints Christiaan A. Vermeijden as new CEO

The Board of Directors of Electromagnetic Geoservices ASA (EMGS) has appointed

Christiaan A. Vermeijden as new Chief Executive Officer (CEO).

Vermeijden is 42 years old and comes from the position as Global Offshore

Geotechnical Director of Fugro N.V., where he was part of the Executive

Management Team. Vermeijden has worked for Fugro since 2000 in several

challenging management positions around the world, and brings with him extensive

international experience and knowledge of the oil and gas service industry. He

holds a Master in Science (MSc) degree in Physical Geography from the University

of Amsterdam and a Master in Business Administration (MBA) from the Rotterdam

School of Management.

The current CEO Stig Eide Sivertsen will continue his tenure until Christiaan

Vermeijden takes over the role in the beginning of 2016, and he is then expected

to resume his non-executive directorship at the Board of EMGS.

Christiaan Vermeijden, will, as part of his compensation package as CEO of EMGS,

receive 10 million options to acquire a corresponding number of EMGS shares at

NOK 0.25. The exercise price of NOK 0.25 is equal to the subscription price in

the Rights Issue as proposed during an extraordinary general meeting ("EGM") on

26 November 2015. The options will be vesting three to five years from the EGM

and be exercisable during two years from vesting.

The Chairman of the board, Eystein Eriksrud says:  "We are very pleased with the

appointment of Christiaan, and we are confident that he will be the right person

to develop EMGS going forward. The company is now in a better position to face

the challenging market, with a sustainable cost base, a stronger balance sheet

and a restructured management team. At the same time we are grateful to Stig

Eide Sivertsen who took on the CEO role in a difficult time for the company, and

secured agreement from the stakeholders to the restructuring plan as well as the

implementation of the necessary cost reductions."

Contact

Eystein Eriksrud, Chairman of the board, +47 93 44 91 55

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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