EMGS publishes Buy-Back Offer Document related to voluntary buy-back offer for bonds issued under Elec ASA 18/25 FRN USD FLOOR STEP C CONV

14 Dec 2022 16:30 CET

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, TO U.S. NEWS WIRE SERVICES, IN OR INTO THE UNITED STATES, AUSTRALIA,
CANADA, JAPAN, HONG KONG, SINGAPORE OR ANY OTHER JURISDICTION IN WHICH THE
DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. FURTHER RESTRICTIONS ARE APPLICABLE,
AS DESCRIBED IN THE ATTACHED BUY-BACK OFFER DOCUMENT.

Reference is made to the stock exchange notification published by
Electromagnetic Geoservices ASA ("EMGS" or the "Company") on 12 December 2022
wherein the Company announced its intention to launch a voluntary, partial buy-
back of bonds with an aggregate nominal value of USD 5,000,000 (subject to
reductions or increases) under the Company's outstanding bond issue Elec ASA
18/25 FRN USD FLOOR STEP C CONV.

EMGS has today published the attached Buy-Back Offer Document. All capitalised
terms used and not defined in this stock exchange notification are references to
those terms as defined in the Buy-Back Offer Document.

The Buy-Back is offered to all Bondholders on equal terms. The Buy-Back Offer
Period will commence on 15 December 2022 at 09:00 CET and end on 22 December
2022 at 16:00 CET, and may be extended by EMGS at its own discretion.

Announcement of the result of the Buy-Back is expected on or about 23 December
2022 and the Buy-Back Settlement Date is expected to be on or about 27 December
2022.

Further details regarding the Buy-Back, including the tendering process and
contact details for submission of the Bondholder Offer Form, are set out in the
Buy-Back Offer Document.


Contact
Anders Eimstad, CFO, +47 948 25 836

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.

This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act

More information:
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578201_ISIN NO 0010821010 Bond Repurchase EMGS 14 December 2022.pdf