Magseis Fairfield extends its Revolving Credit Facility (RCF)

September 22, 2022

(Oslo, 22 September 2022) Reference is made to the announcement of first quarter results, when the company informed about a temporary increase in the Revolving Credit Facility (RCF) from USD 30 million to USD 45 million until September 30, 2022.

The company is pleased to inform that the increased RCF to USD 45 million has been extended further by half a year to March 31, 2023.

The general terms and conditions for the extension of the increase to the RCF remains unchanged. However, Magseis Fairfield has also been granted a waiver so that no Change of Control of the Facility Agreement will be triggered if the proposed acquisition is completed prior to 1 April 2023.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

For further information, please contact:

Carel Hooijkaas, CEO
Tel: +47 480 49 277
Email: carel.hooijkaas@magseisfairfield.com

Stig Hognestad, CFO
Tel: +47 902 59 040
Email: stig.hognestad@magseisfairfield.com

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Magseis Fairfield is the global leading provider of ocean bottom seismic (OBS) technology and data acquisition projects. The company has a flexible business model with full scale node operations, as well as lease and sale models. The Marine Autonomous Seismic System "MASS" nodes and the range of Z-nodes combined with handling systems and source technology enables market leading deployment speed and highly cost-efficient acquisition of data with exceptional quality.