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”).
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.
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.
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.
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.
Reference is made to Board of Directors and Compensation and Talent Committee’s approval of compensation for the CEO and CFO. Under this authorization, the CEO and CFO have been granted Stock Unit awards totaling 200,000 units as part of their compensation.
Magseis Fairfield has completed acquisition of its 100th Ocean Bottom Node (OBN) survey, highlighting the company’s unrivalled experience with this high-quality seismic technology.
Reference is made to the stock exchange announcement by Magseis Fairfield ASA (MSEIS) on 26 March 2021 regarding settlement of restricted stock units for members of the Board of Directors. The share capital has now been registered with the Norwegian Register of Business Enterprises (Nw Foretaksregisteret).
Magseis Fairfield has been awarded a 4D Ocean Bottom Node (OBN) monitor survey in the Norwegian North Sea. The survey is anticipated to start in the third quarter 2021, and have a duration of just under one month. The survey will be conducted using Magseis Fairfield’s MASS node technology.