Spectrum ASA (Spectrum) has agreed with Global Geo Services ASA (GGS) to redeem the NOK 150 million loan provided by GGS in connection with the spin-off of Spectrum from GGS in 2008, at a price of NOK 50 million.

 

Spectrum will seek to finance the redemption by a private placement directed towards major shareholders as of 8 June 2009 and potentially other investors, followed by a proposed subsequent share issue with preferred subscription rights for the remaining shareholders in Spectrum as of 8 June 2009.

 

 

For further information pleas ecall Rhys Edwards +44 (0) 7921 606860