IGSS request to cancel the listing of GDRs-UPDATE

IG Seismic Services PLC

IG Seismic Services PLC ("IGSS") request to cancel the listing and trading of its GDRs - UPDATE

9 February 2016

IGSS announces that it has sent a request to the London Stock Exchange and the Financial Conduct Authority to cancel the listing and trading of its Global Depositary Receipts ("GDRs") ("Cancellation") effective as of 11 May 2016 ("Cancellation Date").

This request refers to GDRs with the following features:

1. Name of issuer:

IG Seismic Services PLC

2. Name of securities:

(a) IG SEISMIC SERVICES PLC GDR (EACH REPR 2 ORDS) (REG S), and

(b) IG SEISMIC SERVICES PLC GDR (EACH REPR 2 ORDS) (144A).

Market: GDR Main Market of the London Stock Exchange

Currency: USD

SEDOL: (a) B8JVFF9 and (b) B91T2V3

ISIN number: (a) US4495972022 and (b) US4495971032

3. Regulated investment exchange on which securities are traded:

(a) London Stock Exchange, International Order Book, Main Market.

(b) London Stock Exchange, Trade Reporting only, Main Market.

4. Reasons for delisting:

IGSS intends to terminate its GDR program and cancel the listing and trading of its GDRs as GSS (as defined below) wishes to be listed in Russia.

The GDRs and shares in IGSS will not be listed or traded anywhere after the Cancellation Date.

Shortly after the Cancellation, IGSS intends to effect a change of its shareholder base and corporate group ("Change"), the key points of which are as follows:

(a) Currently, IGSS holds the entire issued share capital of PJSC "Geotech Seismic Services" ("GSS") and the entire issued share capital of JSC "Geotech Holding" ("GH");

(b) The existing operating company for IGSS (i.e. GSS) is placed above (with GH in between) IGSS, to be held by the former IGSS shareholders in largely the same proportions as they previously held shares in IGSS;

(c) Given that IGSS (the main operating activities of which have always been run out of GSS) and GH are merely shell group holding companies, the underlying assets held by IGSS shareholders will be largely identical both before and after the Change has completed (and their proportionate interests in those assets will remain largely unchanged);

(d) Consideration for shares in IGSS is shares in GSS which have largely equivalent rights to shares in IGSS (ie. following the Change, a GSS shareholder is entitled to largely the same voting rights and economic interests, as it held in IGSS); and

(e) Those GDR holders or shareholders in IGSS that will not participate in the above Change will remain shareholders in IGSS and the value of their shares will remain substantially the same.

Contacts:

IGSS Investor Relations

+ 7 495 580 7882

[email protected]

This document may contain "forward-looking statements" which include all statements other than statements of historical fact. Such forward-looking statements can often be identified by words such as "plans", "expects", "intends", "estimates", "will", "may", "continue", "should" and similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond IG Seismic Services plc's (the "Company") control that could cause the actual results, performance or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding the Company's present and future business strategies and the environment in which the Company will operate in the future. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. These forward-looking statements speak only as at the date as of which they are made, and neither the Company, nor any of its respective agents, employees or advisors intends or has any duty or obligation to supplement, amend, update or revise any of the forward-looking statements contained herein to reflect any change in the Company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based. The information and opinions contained in this document are provided as at the date of this document or as otherwise specified herein and are subject to change without notice.