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August 2, 2021

Share capital increase

Reference is made to the stock exchange announcement by Magseis Fairfield ASA (MSEIS) on 18 June 2021 regarding settlement of restricted stock units. The share capital has now been registered with the Norwegian Register of Business Enterprises (“Foretaksregisteret”).

August 2, 2021

Magseis Fairfield awarded an OBN contract for a Multi-Client company

Magseis Fairfield has been awarded an Ocean Bottom Node survey in the North Sea for a Multi-Client company. The duration of the survey is approximately 2 months and will start in Q3 2021 using the Z700 technology.

July 13, 2021

Magseis Fairfield increases Revolving Credit Facility to USD 45 million

Magseis Fairfield has reached an agreement with DNB for a temporary increase of its Revolving Credit Facility (RCF) from USD 30 million to USD 45 million as per 13 July 2021. The credit facility will be reduced back to the original USD 30 million level by 31 December 2021.

June 18, 2021

Settlement of restricted and performance stock units and corresponding increase of share capital

Reference is made to the Annual General Meeting on 23 April 2020, and its approval of retention package for key employees. The Board of directors have adopted to increase the share capital of the Company by NOK 33 837.50 by issuance of 676 750 new shares, each with a nominal value of NOK 0.05.

June 16, 2021

Change in nomination committee

Anders Farestveit has resigned from the nomination committee. Following the resignation, the nomination committee consists of two members: Chris Sugahara (Chair) and Ryan Schedler. The Board and Management would like to thank Anders for his contributions.

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