Electromagnetic Geoservices ASA

EMGS - Result of the bond buy-back offer to bondholders in FRN Electromagnetic Geoservices ASA Senior Unsecured Callable Bond Issue 2013/2016

Reference is made to the stock exchange announcement by Electromagnetic

Geoservices ASA (EMGS) on 20 November 2015 regarding the buy-back offer of up to

NOK 80 million nominal outstanding amount of EMGS02 (ISIN NO 001 068253.7)

senior unsecured callable bonds at 80% of par.

The buy-back offer period closed at 16:00 CET on 24 November 2015.

EMGS hereby confirms to buy back a nominal amount of NOK 80 million in EMGS02 as

per this offer.

The settlement date of the Bond Buy-Back is expected to be on 22 December 2015.

Following settlement, the nominal outstanding amount of EMGS02 will be NOK 270

million.

As a result of the bondholder participation in the Bond Buy-Back, the total

proceeds to be raised in the Rights Issue is NOK 278 million. The subscription

period and trading of subscription rights in the Rights Issue is expected to

commence on 1 December 2015. The trading in subscription rights is expected to

end on 10 December 2015 while the subscription period is expected to end on 15

December 2015. More information regarding the Rights Issue will be announced

closer to the subscription period. The Rights Issue is subject to approval of

the extraordinary general meeting to be held on 26 November.

For further information, please contact:

Charlotte Knudsen, Head of Investor Relations, +47 97 56 19 59

This information is subject of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#1969230]

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