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Transaction Announcement

Fri, 20th Nov 2015 17:44

RNS Number : 5310G
IG Seismic Services PLC
20 November 2015

IG Seismic Services PLC ("IGSS")

TRANSACTION ANNOUNCEMENT

Moscow, November 20, 2015

IG Seismic Services PLC (LSE: IGSS), the leading pure-play land and transition zone seismic company in Russia and the CIS and one of the largest land seismic companies globally, announces that Mr. Nikolay Levitskiy entered into a series of transactions with two separate strategic investors: Remwill Trade Limited ("Remwill") and SBC Geofizika LLC ("SBCG").

IGSS announces that on 20 November 2015 Mr. Nikolay Levitskiy, being Chief Executive Officer and an ultimate beneficial owner of 55.82% of the entire issued share capital of IGSS, together with his associated entities, entered into a series of transactions with two separate strategic investors: Remwill Trade Limited ("Remwill") and SBC Geofizika LLC ("SBCG").

Upon consummation of these transactions, which is expected to occur in the nearest future, the shareholding which Mr Levitskiy, together with his associated entities, holds will decrease from 55.82% of the entire issued share capital of IGSS to 25.82%, in consideration for the restructuring and settlement of certain debt obligations owed by Mr Levitskiy and his associated entities. Accordingly, Remwill will become an owner of 15% less one share, and SBCG will become an owner of 15%, of the entire issued share capital of IGSS.

Neither Remwill nor SBCG were previously shareholders in IGSS. IGSS looks forward to welcoming two new strategic investors in the Company.

Contacts:

For further information please visit www.igseis.com or contact:

IGSS Investor Relations

+ 7 495 580 7882

query@igseis.com

This document may contain "forward-looking statements" which include all statements other than statements of historical fact. Such forward-looking statements can often be identified by words such as "plans", "expects", "intends", "estimates", "will", "may", "continue", "should" and similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the IG Seismic Services plc's (the "Company") control that could cause the actual results, performance or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding the Company's present and future business strategies and the environment in which the Company will operate in the future. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. These forward-looking statements speak only as at the date as of which they are made, and neither the Company, nor any of its respective agents, employees or advisors intends or has any duty or obligation to supplement, amend, update or revise any of the forward-looking statements contained herein to reflect any change in the Company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based. The information and opinions contained in this document are provided as at the date of this document or as otherwise specified herein and are subject to change without notice.

This information is provided by RNS
The company news service from the London Stock Exchange
END
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