Last checked at 20 Nov 2015 17:44
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
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