EMGS: Mandatory notification of trade
Oslo, 22 June 2010: Electromagnetic Geoservices ASA ("EMGS" or the "Company" - OSE: EMGS)
Reference is made to the stock exchange release dated 22 June 2010 regarding a successful private placement of new shares in the Company ("Private Placement"). The following primary insiders were allocated shares in the private placement at a share price of NOK 7.00 per share:
Roar Bekker (CEO) was allocated 30,000 shares. Following this subscription, Roar Bekker holds a total of 130,000 shares in the Company.
Svein Knudsen (CFO) was allocated 5,000 shares. Following this subscription, Svein Knudsen holds a total of 207 694 shares in the Company.
Dag Reynolds (Executive Vice President) was allocated 20,000 shares. Following this subscription, Dag Reynolds holds a total of 220,000 shares in the Company.
Anette Mellbye (Chief Legal Counsel) was allocated 5,000 shares. Following this subscription, Anette Mellbye holds a total of 15,000 shares in the Company.
Stig Eide Sivertsen (Board Member) was allocated 14,200 shares. Following this subscription, Stig Eide Sivertsen holds a total of 14,200 shares in the Company.
Cecilie Arentz (Board Member) was allocated 14,250 shares. Following this subscription, Cecilie Arentz holds a total of 39,724 shares in the Company.
Contact
Roar Bekker, EMGS chief executive officer, +47 22 01 14 00
Svein Knudsen, EMGS chief financial officer, +47 22 01 14 00
About EMGS
EMGS uses its proprietary electromagnetic (EM) technology to support oil and gas companies in their search for offshore hydrocarbons. The company is the EM market leader, and provides Clearplay, the world's first fully integrated EM system.
Three service offerings - Clearplay Find, Test and Evaluate - have been designed to assist operators in the exploration and production phase. Clearplay supports each stage in the workflow, from survey design and data acquisition to processing and interpretation. The services enable 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 the world's first purpose-built 3D EM vessel fleet and has conducted more than 450 surveys to improve drilling success rates across the world's mature and frontier offshore basins. The company operates on a worldwide basis with main offices in Trondheim and Stavanger, Norway; Houston, USA; and Kuala Lumpur, Malaysia. Please visit www.emgs.com for more information.