Brief: EMGS Initiates Cost Reduction Programme; Evaluates Strategic Options

Voim ASA

20/02/2020 07:41

Feb 20 (Reuters) - Electromagnetic Geoservices ASA
 EMGS.OL :
    * REG-UPDATE FROM EMGS
    * ADVISED BY CUSTOMER THAT COMPANY WILL NOT, IN NEAR TO
MEDIUM
FUTURE, RECEIVE ADDITIONAL ACQUISITION WORK UNDER TWO-YEAR
ACQUISITION CONTRACT
    * BOARD OF DIRECTORS OF COMPANY IS EVALUATING ALL STRATEGIC
OPTIONS AVAILABLE TO COMPANY.
    * WILL INITIATE COST REDUCTION PROGRAMME TO ADJUST COMPANY'S
OPERATIONAL COST BASE TO NEW CONFIRMED BACKLOG LEVEL

Source text for Eikon:  ID:nGNE5Pg1f7 
Further company coverage:  EMGS.OL 

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