Oslo 1 February 2017 - Reference is made to the voluntary offer by Spectrum ASA ("Spectrum", the "Company", ticker code ("SPU")) to acquire all the issued and outstanding shares in MultiClient Geophysical ASA ("MCG") at a consideration of NOK 1.25 per share (the "Offer Price") as announced on 24 January 2017 (the "Offer"). Reference is also made to the stock exchange notice published by the Oslo Stock Exchange earlier today regarding approval of the voluntary offer document (the "Offer Document").
The acceptance period for the Offer commences on 2 February 2017 and expires on 16 February 2017 at 16:30 CET, subject to extension. The complete terms of the Offer are set out in the Offer Document dated 1 February 2017 which will be sent to MCG's shareholders with known addresses and that legally may receive such document and accept the Offer. The Offer Document is also available at www.spectrumgeo.com and www.danskebank.no/spectrum.
For further information, please contact:
Rune Eng; CEO and President
Email: Rune.Eng@Spectrumasa.com
Mobile phone: +47 91 57 09 45
Henning Olset; CFO
Email: Henning.Olset@Spectrumasa.com
Mobile phone: +47 92 26 69 48
Sondre Vevstad; Danske Bank
Email: sondre.vevstad@danskebank.com
Mobile phone: +47 93 65 45 55
About Spectrum
Spectrum provides innovative Multi-Client seismic surveys and seismic imaging services to the global oil and gas industry from offices in Norway, the UK, USA, Brazil, Egypt, Australia, Indonesia and Singapore. Spectrum designs, acquires and processes seismic data to deliver high quality solutions through its dedicated and experienced workforce. Spectrum holds the world's largest library of Multi-Client 2D marine seismic data and a significant amount of 3D seismic. The company's strategy focuses on both the major, established hydrocarbon-producing regions of the world as well as key frontier areas identified by our experienced team of geoscientists. The Spectrum library of Multi-Client data contains projects from many of the foremost oil producing regions of the world. These include new acquisition, reprocessing and interpretation reports.
Important Information about this release
The Offer will not be made in any jurisdiction in which making of the Offer would not be in compliance with the laws of such jurisdiction. This announcement does not in itself constitute an offer. The Offer will only be made on the basis of the Offer Document and can only be accepted pursuant to the terms thereof.
The information herein is subject to disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.