Nikolay Levitskiy, Chief Executive Officer of IG Seismic Services, is in negotitations to increase his stake to 40% - 50% in IG Seismic Services PLC (LSE:IGSS). A press release of IG Seismic Services said that Nikolay Levitskiy, the Chief Executive Officer of IG Seismic Services plc (IGSS), announces it is currently in the process of considering and negotiating a transaction to acquire further interests in the ordinary shares and/or global depository receipts issued in relation to the ordinary shares of IGSS. IGSS said, "Any such acquisition, if ultimately made, is expected to be at the prevailing market price at or around US$15 in cash per IGSS ordinary share, equivalent to at or around US$30 in cash per global depositary receipt admitted to trading on the London Stock Exchange.

Any such acquisition is expected to result in Mr Levitskiy and his concert parties, including Synttech, holding an interest of between 40% to 50%. in IGSS's issued share capital, as a result of which Synttech would be required to make a mandatory cash offer at the Acquisition Price to all IGSS shareholders. Synttech has sought approval from the Federal Antimonopoly Service of the Russian Federation to make the acquisition and resultant mandatory offer, and the outcome of that regulatory approval request is expected to be received imminently.

Mr Levitskiy can confirm that he has received the agreement of IGSS's board to evaluate the possibility of acquiring further interests in IGSS shares. No other form of proposal has been put to IGSS's board of directors." Mike Schmidt, Alexey Goncharenko and Sandip Dhillon of UBS Investment Bank are acting as financial advisors to Nikolay Levitskiy.