Electromagnetic Geoservices ASA (the "Company") currently does not conduct any business and holds no material assets. Consequently, the informational value of the Company's financial reporting to investors is limited. Against this background and in order to reduce costs, the Company has resolved that it will no longer publish interim financial reports for the first and third quarters, nor will it publish a separate interim financial report for the fourth quarter.
Going forward, the Company will publish a half-year interim report and an annual report.
This change to the Company's financial reporting requires a waiver from the bondholders of the Company's convertible bond issue Elec ASA 18/25 FRN USD FLOOR STEP C CONV. The change will accordingly take effect only upon receipt of such waiver.
This information is published in accordance with the Norwegian Securities Trading Act § 5-12.