EMGS: Mandatory notification of trade (flagging)
27 Dicembre 2023 - 9:30PM
EMGS: Mandatory notification of trade (flagging)
Siem Investments S.à.r.l. has on 27 December 2023 acquired
12,000,000 shares in Electromagnetic Geoservices ASA (“EMGS” or the
“Company”).
Siem Investments S.à.r.l. is an entity closely associated with
member of the board and primary insider (PDMR) of EMGS, Jørgen
Westad.
Siem Investments S.à.r.l. owns, after this acquisition, a total
of 43,327,467 shares in EMGS constituting 33% of the share capital
and voting rights in EMGS. Siem Investments S.à.r.l. has
consequently passed the 25% disclosure threshold.
Further details regarding the transaction are set out in the
attached form.
Contact Anders Eimstad, CFO, +47 948 25 836
This information is subject to the disclosure requirements in
Regulation EU 596/2014 article 19 number 3 and the Norwegian
Securities Trading Act § 5-12.
The stock exchange notification was published by Anders Eimstad,
CFO, Electromagnetic Geoservices ASA. 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. CSEM
technology can also be used to detect the presence of marine
mineral deposits (primarily Seabed Massive Sulphides) and EMGS
believes that the technology can also be used to estimate the
mineral content of such deposits. The Company is undertaking
early-stage initiatives to position itself in this future
market.
- 27 December 2023 PDMR PCA notice
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