The Board of Directors of Oslo Børs has on 19 June 2008 approved Spectrum ASA's application for listing on Oslo Axess subject to Spectrum ASA's completion of a successful share offering, as expected by the company.

 

The conditions for listing set by Oslo Børs are that Spectrum ASA fulfils the listing requirements on Oslo Axess of minimum 100 shareholders and 25% of shares held by shareholder that are independent of the company (free float of shares), and that Spectrum ASA's share offering of NOK 150 million is completed.

 

Spectrum ASA is currently carrying out a public offering of shares. The share offering is open to the public. The shareholders of Global Geo Services ASA as of 9 June 2008 have preferential rights to allocation of shares as set out in the prospectus. The share offering is fully underwritten by a consortium of underwriters, and the proceeds from the share offering will be NOK 150 million. Spectrum ASA aims to meet the conditions for listing on Oslo Axess through the current share offering.

 

The prospectus for the share offering has been sent to all shareholders of Global Geo Services ASA as of 9 June 2008. The prospectus may also be obtained by contacting Spectrum ASA or the manager for the share offering, ABG Sundal Collier Norge ASA. Subscription for shares in the share offering may be made by sending the application form included in the prospectus (on page A-3) to ABG Sundal Collier Norge ASA by telefax or regular mail. Norwegian subscribers may also subscribe through the Internet at www.abgsc.no or www.spectrum-asa.com. The application period is scheduled to end on Friday 27 June 2008 at 1300 hours (Norwegian time).

 

For further information please contact CFO Jon A. Elde at Spectrum ASA at +47 23 01 49 76.