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Brief: EMGS Signs Non-Binding Term Sheet For Asset Transaction

March 9 (Reuters) - Electromagnetic Geoservices ASA EMGS.OL:

NON-BINDING TERM SHEET FOR ASSET TRANSACTION

TO TRANSFER BUSINESS TO SUBSIDIARY BEFORE SALE TO BUYER

PURCHASE PRICE FOR EM BUSINESS SIGNIFICANTLY BELOW OUTSTANDING EMGS03 DEBT

POST-DEAL, EMGS TO HOLD NO MATERIAL ASSETS BEYOND PURCHASE PRICE

DEAL COMPLETION SUBJECT TO CONSENTS AND WAIVERS FROM EMGS03 BONDHOLDERS

Source text: ID:nGNE27YH20

Further company coverage: EMGS.OL

 (Gdansk Newsroom)

 ((gdansk.newsroom@thomsonreuters.com; +48 58 7696600;))

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