Axxis Geo Solutions successfully listed on Oslo Axess

July 3rd, 2019 08:30

Axxis Geo Solutions (AGS) is from today a publicly listed company on Oslo Axess. The listing marks the successful completion of the merger between Axxis Geo Solutions AS and Songa Bulk ASA. The name of the company is from today Axxis Geo Solutions ASA and its shares are listed and traded on Oslo Axess under the “AGS” ticker.

“Axxis Geo Solutions has today achieved its goal to become a publicly listed company on a regulated market. This is an important milestone for AGS which clearly marks the company’s ambition to grow and strengthen its position as a pure-play ocean bottom node seismic company”, says Rolf Rønningen, Chair of the newly appointed Axxis Geo Solution ASA Board.

AGS has recently signed a Global Master Service agreement with a Major international oil company and completed a profitable ocean bottom node (OBN) project on schedule in India. In addition, there is ongoing OBN seismic acquisition on Utsira in the North Sea in Norway, a multi-client survey pre-funded by AkerBP and Equinor.

“On behalf of the new Board, I would like to express that we are motivated to develop AGS as a company together with its management, aiming to deliver on shareholders’ expectations while ensuring prudent corporate governance”, says Rønningen.

Songa Bulk’s assets, rights and obligations has been transferred to the merged company, Axxis Geo Solutions ASA, according to the merger plan announced 16 April 2019 and approved by the annual general meeting of Songa Bulk ASA 16 May 2019.

DX 5305

Contact

Lee Parker, CEO

Lee.Parker@axxisgeo.com

Svein Knudsen, CFO and IR contact

+47 906 94 170

Svein.Knudsen@axxisgeo.com

Rolf Rønningen, Chair

Rolf.Ronningen@axxisgeo.com