Edition:
United States

Spectrum ASA (SPU.OL)

SPU.OL on Oslo Stock Exchange

36.50NOK
24 Feb 2017
Change (% chg)

kr-0.90 (-2.41%)
Prev Close
kr37.40
Open
kr38.00
Day's High
kr38.00
Day's Low
kr36.20
Volume
34,466
Avg. Vol
138,244
52-wk High
kr42.00
52-wk Low
kr21.90

Latest Key Developments (Source: Significant Developments)

Multiclient Geophysical: Geoex amends voluntary offer terms
Thursday, 2 Feb 2017 04:12am EST 

Multiclient Geophysical ASA : Amended offer terms and update on the voluntary offer to acquire all outstanding shares in MultiClient Geophysical (MCG) by Geoex Ltd . Competing offer has offer price of 1.25 Norwegian crown per MCG share . Offer price in initial offer made by Geoex was 1.20 crown per share . Geoex has decided to increase consideration in initial offer to 1.40 crown per share . Accepting shareholders will receive full settlement of 1.40 crown per share upon completion of offer . Increased offer valuates total share capital of MCG at about 130.0 million crowns ($15.9 million) .Amended offer price represents premium to offer price offered by Spectrum ASA in competing offer of about 13 percent.  Full Article

Spectrum to acquire MultiClient Geophysical ASA
Tuesday, 24 Jan 2017 11:00am EST 

Spectrum ASA : Announced a voluntary offer to acquire all issued and outstanding shares in MultiClient Geophysical ASA at a consideration of 1.25 crown per share . The Offer values total share capital of MCG at 116 million Norwegian crowns ($14 million) .Says Offeror will seek to have MCG shares delisted from Oslo Stock Exchange..  Full Article

Spectrum expects Q4 net revenue of about $31 million
Monday, 9 Jan 2017 03:06am EST 

Spectrum ASA :Expects to report Q4 net revenues of about $31 million ($42 million in Q4 2015).  Full Article

Spectrum to recognize $8.7 mln in tax credits in Brazil as "other revenue" in Q3
Monday, 3 Oct 2016 01:15am EDT 

Spectrum ASA : Will recognize about $8.7 mln in tax credits in Brazil as "other revenue" in Q3 2016 .Credits will be used to partially offset Spectrum's tax payments in Brazil going forward.  Full Article

Spectrum starts multi client 3D seismic survey offshore Norway
Thursday, 22 Sep 2016 02:43am EDT 

Spectrum ASA : Commences 1,800 square kilometer multi client 3D seismic survey offshore Norway in Western Barents Sea . Survey is acquired in partnership with BGP .Final PreSTM Broadband dataset and offset volumes will be available during Q2 2017, ahead of 24th Norwegian licensing round in 2017.  Full Article

Spectrum Q2 EBIT swings to loss $9.9 mln
Friday, 12 Aug 2016 01:15am EDT 

Spectrum ASA : Q2 net operating revenue $13.6 million versus $34.7 million year ago . Q2 EBIT loss $9.9 million versus profit $8.7 million year ago .Believes that there is attractive project and sales pipeline in place for next 12 months.  Full Article

Spectrum expects lower net revenues for Q2
Tuesday, 12 Jul 2016 01:30am EDT 

Spectrum ASA :Expects to report net revenues of approximately $14 million for 2nd quarter of 2016 ($35 million in Q2 2015)..  Full Article

Spectrum in agreement to amend amortization schedule on company's term loan facility
Friday, 1 Jul 2016 02:15am EDT 

Spectrum ASA : Has entered into an agreement to amend amortization schedule on company's term loan facility . With new repayment schedule term loan is amortized $10 million in Q2, $10 million in Q3 2016 and $15 million in Q1 2017 . Previous amortization schedule was of $15 million in Q2 2016 and $20 million in Q3 2016 . Based on preliminary figures for Q2 2016, management expects to report a cash balance of about $15 million after Q2 2016 term loan payment of $10 million .In addition, Spectrum has obtained a waiver for NIBD/EBITDA - MC capex covenant for Q2 2016.  Full Article

Spectrum to commence 2D multi-client project offshore Brazil
Wednesday, 30 Mar 2016 03:31am EDT 

Spectrum ASA:To commence 2D multi-client project in Amazonas and Para Maranhao basins along the Equatorial Margin of Brazil.PreSTM, PreSDM and Broadband products will be available in Q4 2016.Says survey is acquired in partnership with BGP.  Full Article

Spectrum says dividend will be considered in Q4 2016
Friday, 12 Feb 2016 01:16am EST 

Spectrum ASA:Board recommends that dividend will be considered in Q4 2016, after amortization of the current loan facility in Q2 and Q3‍​.  Full Article

More From Around the Web