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    AXXIS   NO0010778095

AXXIS GEO SOLUTIONS ASA

(AXXIS)
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Axxis Geo : Repayment of debt and sale of vessel

06/16/2021 | 03:17pm EDT
Lysaker, 16 June 2021

Reference is made to the stock exchange announcement of Axxis Geo Solutions ASA
(the "Company") dated 7 April 2021 regarding the final reconstruction proposal
and to the announcement dated 14 June 2021 regarding issuance of shares
following inter alia registration of the private placement which raised NOK
144.5 million in gross proceeds to the Company. The Company has today repaid the
remaining principal and accrued interest under the loan with Eksportkreditt
Norge AS, which was guaranteed by Danske Bank and GIEK. 

Furthermore, reference is made to the stock exchange announcement dated 7 May
2021 regarding a memorandum of agreement entered into with Sanco Holding AS
("Sanco") in respect of the sale of the vessel "Neptune Naiad" including certain
equipment, to Sanco. The sale has today been successfully completed. 


Contacts
Ronny Bøhn, CEO
Ronny.Bohn@axxisgeo.com
+47 905 58 517

Nils Haugestad, CFO
Nils.Haugestad@axxisgeo.com
+47 977 04 439

About AGS
Axxis Geo Solutions (Axxis) is a pure-play ocean bottom node seismic company
uniquely positioned to pursue both contract and multi-client seismic. Axxis
specializes on delivering tailored seismic solutions and flexible project
management and execution to oil and gas companies world-wide. Its operations are
based on a scalable asset-light setup through chartering of vessels and nodes to
complete seismic surveys. 
Axxis is listed on EURONEXT EXPAND OSLO and traded under the ticker Axxis.
More information on www.axxisgeo.com

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to Section 5-12 the Norwegian Securities Trading Act.

Click here for more information

© Oslo Bors ASA, source Oslo Stock Exchange

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Financials (USD)
Sales 2020 92,8 M - -
Net income 2020 -3,13 M - -
Net Debt 2020 28,1 M - -
P/E ratio 2020 -11,5x
Yield 2020 -
Capitalization 277 M 31,3 M -
EV / Sales 2019 0,13x
EV / Sales 2020 0,35x
Nbr of Employees 10
Free-Float 87,1%
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Managers and Directors
Ronny Bøhn Chief Executive Officer
Nils Christian Haugestad Chief Financial Officer
Rolf Rønningen Chairman
Rick Dunlop Executive Vice President-Operations
Njål Sævik Director
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