EMGS: Board of directors approves audited financial statements and annual report for 2019

Written by Customer Service on . Posted in Public Companies.

The board of directors of Electromagnetic Geoservices ASA (“EMGS” or the “Company”) has today approved EMGS’ 2019 annual financial statements and annual report.As further described as subsequent events in the annual report, based on the recent market and operational developments the Company has resolved to make the following two impairments in the first quarter of 2020:*The book value of the multi-client library has been impaired by USD 0.8 million, due to a reduction in expected future revenue.*The book value of the DeepBlue system has been reduced from USD 22.5 million at year end 2019 to USD 16.8 million at end of the first quarter of 2020.This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading ActAttachmentAnnual Report 2019

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