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Dato/tid 17.02.2017 16:20
Utsteder MultiClient Geophysical ASA
UtstederID MCG
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Marked OAX
Kategori INNSIDEINFORMASJON
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Tittel Extension of offer period for recommended voluntary offer to acquire all outstanding shares in MultiClient Geophysical ASA by Geoex Ltd
Tekst
17 February 2017, Kent, United Kingdom. References are 
made to Geoex Ltd's ("Geoex") voluntary cash offer 
(the "Offer") for all outstanding shares of 
MultiClient Geophysical ASA ("MCG" or the "Company") 
made on 19 January 2017, the Offer Document approved 
by the Oslo Stock Exchange on 19 January 2017 and the 
stock exchange announcement on 2 February 2017 where 
Geoex updated the offer terms, including, inter alia, 
by increasing the offer price to NOK 1.40 per MCG 
share (the "Amended Offer Price"). 

On 9 February 2017, the board of MCG unanimously 
recommended to its shareholders to accept the Offer 
from Geoex, as further set out in the stock exchange 
announcement by MCG on 9 February 2017. 

On 15 February 2017, Spectrum ASA announced that its 
competing offer on MCG was withdrawn and that any 
received acceptances under such offer were immediately 
released.

As of today, Geoex has received acceptances of the 
Offer from shareholders holding 31,339,298 shares in 
MCG, representing 33.76% of the issued and outstanding 
shares in MCG. In addition, shareholders in MCG 
holding 33,749,500 shares, representing approximately 
36.35% of the issued and outstanding shares in MCG, 
have undertaken to accept the Offer for its shares in 
the Company. In total, shareholders representing 
approximately 70.11% of the issued and outstanding 
shares in MCG have as of today accepted or pre-
accepted the Offer.

As set out in the Offer Document, section 4.4 (a), 
completion of the Offer is by Geoex made conditional 
upon, inter alia, a minimum acceptance level of more 
than 90% of the issued and outstanding shares in the 
Company. Pursuant to the Offer Document section 4.10, 
Geoex has the flexibility to amend the Offer, 
including the acceptance period. In order to give the 
shareholders of MCG additional time to accept the 
Offer, Geoex hereby extends the acceptance period 
under the Offer until 16:30 (CET) on 6 March 2017. 
Consequently, the date of settlement date will be 
adjusted accordingly, but in any event no later than 
14 calendar days after Geoex's announcement that the 
completion conditions have been met or waived, i.e. no 
later than on 14 April 2017.

This amendment of the acceptance period is approved by 
the Oslo Stock Exchange. There are no other amendments 
to the Offer. 

The pre-accepting shareholders comprise majority 
shareholders Pareto Growth AS/Investorprosjekt 162 AS 
(17,185,750 shares), CFM Indosuez , a company directly 
and/or indirectly controlled by Jann Lindberg 
(11,563,750 shares) and Sundt AS (5,000,000 shares) 
(represented on the MCG board by Jakob Iqbal. The pre-
acceptances are subject to certain conditions, 
including with a right to withdraw their pre-
acceptance if any competing offer or merger by any 
third party in respect of MCG or its shares or assets 
is made at an offer price that is considered as 
superior by the MCG board to the price offered by 
Geoex and that such competing transaction is publicly 
recommended by the board of MCG.

The complete terms of the Offer are set out in the 
Offer Document dated 19 January 2017, as amended on 2 
February 2017, both as approved by the Oslo Stock 
Exchange. The Offer Document has been distributed to 
all shareholders in MCG, with known addresses and that 
legally may receive such document and accept the 
Offer. The Offer Document is also available free of 
charge at the office of the receiving agent DNB Bank 
ASA, Registrar's Department, Dronning Eufemias gate 
30, N-0191 Oslo, Norway. Telephone: +47 23 26 80 20. 

Aabø-Evensen & Co Advokatfirma AS is acting as legal 
advisors to Geoex Ltd in connection with the Offer.

For additional information please contact:

Geoex Ltd:

Pierre Benichou, Chairman of the Board
Telephone: +44 7545 336930
pierre.benichou@geoexltd.com

About Geoex Ltd:

Geoex is a multi-disciplinary geophysical and 
geological services company whose core business 
consists of multi-client projects and data management 
solutions, centered on the Atlantic margins.

Geoex's portfolio of services starts with an 
evaluation of new potential areas, including all 
geophysical services up to the final stages of 
marketing and promoting new data and assets. Geoex's 
activity is focused on providing support to Oil & Gas 
companies and governments to develop an efficient 
exploration strategy. Geoex is a firm believer in new 
technology and partner with innovative service 
providers to enhance our coverage of the complete 
range of geophysical services.

Geoex was founded in 2003 and is made up of 
experienced geophysicists who have worked for major 
geophysical contractors.

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

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