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. This is comprised of 70,000 Performance Stock Units and 130,000 Restricted Stock Units.
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. The OBN survey for bp over various assets in the US Gulf of Mexico was announced in December last year and used Magseis Fairfield’s ZXPLR node 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.
Magseis Fairfield ASA announces that the annual general meeting was held on Monday the 10th of May 2021 at 10:00 (CEST) as an online event. The minutes from the extraordinary general meeting are attached to this notice.
Magseis Fairfield continued to build backlog during a transition quarter. Magseis Fairfield reported revenue of USD 42.9 million, a gross profit of USD 7.9 million, and an EBITDA of USD 0.6 million in the first quarter.
Magseis Fairfield ASA will release its first quarter results on Tuesday, May 4th 2021 at approximately 07:00 Central European Summer Time (CEST).