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April 19, 2012 - Annual General Meeting


Paris, France, April 19, 2012 ... Georex will hold its Annual General Meeting the 14th of June 2012 at the Argenteuil offices.

The year 2011 generated a current operating income of +1,386 K€. Sales of services of the group reached 9,237 K€, against €7,678 K in 2010; an increase of 20.3% (+€1,559 K). The net result rises at +€1,297 K, representing 14.04% of the turnover.

The improvement of the technical activities, measured by EBITDA, is rising to +772 K€, against -565 K€ in 2010, an increase of +1,337 K€. The exceptional part is due primarily to the implementation of provisions for risks of 784 K€ and the added value before tax on the sale of the premises for 85 K€.

The development of the group focused in 2011 on the strengthening of the supervision of geological operations teams, the compilation of geological and geophysical data, but also the presence of the group in West Africa.

In view of the evolution of the Group and of the situation of its cash to December 31, 2011, the Board of directors proposes to the General Meeting the payment of a dividend of €1,094 K€ K, 42 cents of euro per share in cash.