IGSS request to cancel listing of GDRs

IG Seismic Services PLC

IG Seismic Services PLC ("IGSS") request to cancel the listing and trading of its GDRs

7 April 2015

IGSS announces that it has sent a request to the London Stock Exchange and the Financial Conduct Authority to cancel the listing and trading of its Global Depositary Receipts ("GDRs") ("Cancellation") effective as of 30 June 2015 ("Cancellation Date").

This request refers to GDRs with the following features:

1. Name of issuer:

IG Seismic Services PLC

2. Name of securities:

(a) IG SEISMIC SERVICES PLC GDR (EACH REPR 2 ORDS) (REG S), and

(b) IG SEISMIC SERVICES PLC GDR (EACH REPR 2 ORDS) (144A).

Market: GDR Main Market of the London Stock Exchange

Currency: USD

SEDOL: (a) B8JVFF9 and (b) B91T2V3

ISIN number: (a) US4495972022 and (b) US4495971032

3. Regulated investment exchange on which securities are traded:

(a) London Stock Exchange, International Order Book, Main Market.

(b) London Stock Exchange, Trade Reporting only, Main Market.

4. Reasons for delisting:

IGSS intends to terminate its GDR program and cancel the listing and trading of its GDRs as it wishes to be listed in Russia as opposed to London.

The GDRs and shares in IGSS will not be listed or traded anywhere after the Cancellation Date.

Shortly after the Cancellation, IGSS intends to effect a change of its shareholder base and corporate group ("Change"), the key points of which are as follows:

(a) Currently, IGSS holds the entire issued share capital of PJSC "Geotech Seismic Services" ("GSS") and 99% of the entire issued share capital of JSC "Geotech Holding" ("GH");

(b) The existing operating company (GSS) for IGSS is placed above (with GH in between) IGSS, to be held by the former IGSS shareholders in the same proportions as they previously held shares in IGSS. Whilst 99% of the shares of GH will be owned by GSS, the remaining 1% remains to be owned by a company that is controlled by and acts at the direction of GSS;

(c) Given that IGSS (the main operating activities of which have always been run out of GSS) and GH are merely shell group holding companies, the underlying assets held by IGSS shareholders will be identical both before and after the Change has completed (and their proportionate interests in those assets will remain unchanged); and

(d) Consideration for shares in IGSS is shares in GSS which have equivalent rights to shares in IGSS (ie. following the Change, a GSS shareholder is entitled to the same voting rights and economic interests, as it held in IGSS).

Contacts:

IGSS Investor Relations

Alla Muzhzhevleva

+ 7 495 580 7882

query@igseis.com

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