Geoex has announced certain amendments to the initial Offer and the Offer Document. Geoex has decided to increase the consideration in the initial Offer to NOK 1.40 per share, valuating the total share capital of MCG at approximately NOK 130.0 million
Geoex Ltd (“Geoex”), a UK based ulti-disciplinary geophysical and geological services company, launched on 19 January 2017 a voluntary offer (the “Offer”) to acquire all issued and outstanding shares in MultiClient Geophysical ASA (“MCG”) at a consideration of NOK 1.20 per share, valuating the total share capital of MCG at NOK 111.4 million.
On 1 February 2017 Spectrum ASA launched a competing voluntary offer on MCG (the "Competing Offer"). The Competing Offer represented an offer price of NOK 1.25 per MCG share and an offer period that expires 16 February 2017 at 16:30 CET (subject to extension), but is otherwise made on identical or similar terms and conditions as Geoex's Offer.
The Amended Offer Price represents a premium to the offer price offered by Spectrum ASA in the Competing Offer of approximately 13% and a premium to the Initial Offer Price offered by Geoex of approximately 17%.
Aabø-Evensen & Co Advokatfirma AS is acting as legal advisors to Geoex Ltd in connection with the Amended Offer.
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