Reference is made previous stock exchange releases by Axxis Geo Solutions ASA in
connection with the conversion of debt as part of the reconstruction of Axxis
Geo Solutions ASA. As a result of the debt conversion, Lehmkuhl Capital AS will
receive 241,957,938 shares in Axxis Geo Solutions ASA, corresponding to approx.
12.55% of the company's outstanding share capital and voting rights. Lehmkuhl
Capital AS has further entered into an agreement to sell these shares through an
investment bank, which will be carried out immediately following receipt of the
shares. Consequently, Lehmkuhl Capital AS will not own any shares in Axxis Geo
Solutions ASA after the transaction has been completed.
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