REG - IG Seismic Services - IGSS request to cancel listing of GDRs UPDATE <Origin Href="QuoteRef">IGSSq.L</Origin>

IG Seismic ServicesAnnouncement

15/07/2015 13:30

RNS Number : 5951K
IG Seismic Services PLC
17 April 2015
IG Seismic Services PLC
IG Seismic Services PLC ("IGSS") request to cancel the listing and trading of its GDRs - UPDATE
17 April 2015
On 7 April 2015 IGSS announced, among other things, that:
(a) it had sent a request to the London Stock Exchange and the Financial Conduct Authority to cancel the listing and trading of its Global Depositary Receipts ("Cancellation") effective as of 30 June 2015; and
(b) shortly thereafter, it intended to effect a change of its shareholder base and corporate group ("Change").
It has now become apparent that the consent of certain of IGSS's financing banks ("Consent") is required for the Cancellation and Change pursuant to financing documentation IGSS has entered into with them. It is not yet clear whether or when the Consent will be forthcoming.
As a consequence, although IGSS still intends to proceed with the Cancellation and Change, it is not yet clear whether or when these will occur, depending on receipt of the Consent. In turn, IGSS intends to delay termination of its GDR program until further clarity is obtained.
Further updates will be announced when appropriate.
Contacts:
IGSS Investor Relations
Alla Muzhzhevleva
+ 7 495580 7882
query@igseis.com
This document may contain "forward-looking statements" which include all statements other than statements of historical fact. Such forward-looking statements can often be identified by words such as "plans", "expects", "intends", "estimates", "will", "may", "continue", "should" and similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond IG Seismic Services plc's (the "Company") control that could cause the actual results, performance or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding the Company's present and future business strategies and the environment in which the Company will operate in the future. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. These forward-looking statements speak only as at the date as of which they are made, and neither the Company, nor any of its respective agents, employees or advisors intends or has any duty or obligation to supplement, amend, update or revise any of the forward-looking statements contained herein to reflect any change in the Company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based. The information and opinions contained in this document are provided as at the date of this document or as otherwise specified herein and are subject to change without notice.

This information is provided by RNS
The company news service from the London Stock Exchange
  END
EXCLLFEFSTIDLIE