Reference is made to the stock exchange notification published by Electromagnetic Geoservices ASA (“EMGS” of the “Company”) on 26 April 2019, wherein it was announced that the board of directors had approved the EMGS’ 2018 annual financial statements and annual report. Reference is further made to the stock exchange notification published by EMGS on 13 June 2019, wherein it was announced that the annual general meeting (the “AGM”) of the Company had, in accordance with the proposal by the board of directors, resolved to approve the 2018 annual financial statements and the annual report, however so that the Company’s share premium account as of the balance sheet date was reduced to zero and offset in full against other equity (uncovered loss).
As announced in the stock exchange notification on 13 June 2019, based on the AGM’s resolution the Company has prepared updated financial statements and annual report for 2018. A complete overview of the updates made is included on page 4 of the updated annual report.
The updated annual report is enclosed to this stock exchange notification.
For further information, please contact:
Hege Veiseth, CFO, +47 99 21 67 43
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 offices in Trondheim, Oslo, Houston, Mexico City, Rio de Janeiro and Kuala Lumpur.
For more information, visit www.emgs.com
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
- EMGS ANNUAL REPORT 2018