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EMGS: Chairman steps down

Electromagnetic Geoservices ASA (“EMGS” or the “Company”) has been notified by Ms Silje Augustson of her resignation from the position as chairman of the board of directors (the “Board”) of EMGS. The resignation is effective immediately, and is due to personal reasons. 

The Board would like to thank Ms Augustson for her leadership and contributions to the Company during her tenure as chairman. 

The Board will, working closely with the nomination committee, immediately start a process of evaluating whether to call for an extraordinary general meeting of the Company to elect a new chairman of the board, or whether a current member of the Board should be elected as interim chairman until the next annual general meeting of the Company.

Anders Eimstad, CFO, +47 948 25 836

This information is published in accordance with the Norwegian Securities Trading Act § 5-12.

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.

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