Adjustment of Conversion Price in Polarcus Limited 2.875% Convertible Bonds due 2016

by polarcus on 29-Oct-12 09:02

Reference is made to the announcement by Polarcus Limited (OSE: PLCS) on 13 April 2011 regarding the USD 125 million convertible bond due 2016 with annual coupon of 2.875%. 

 

The Conversion Price is adjusted according to the Bond Agreement's clause 15.1, from USD 1.9345 to USD 1.5476.

 

The new Conversion Price is effective from today, 29 October 2012.

 

 

Contacts

 

Tom Henrik Sundby, CFO Polarcus, +971 4 436 0800 / +971 50 708 6480

Hans-Peter Burlid, VP Finance Polarcus, +971 4 436 0800 / +971 50 559 8175

 

About Polarcus

 

Polarcus (OSE: PLCS) is a pure play marine geophysical company with a pioneering environmental agenda, specializing in high-end towed streamer data acquisition from Pole to Pole. Polarcus operates a fleet of high performance 3D seismic vessels incorporating an innovative design and advanced maritime technologies for improved safety and efficiency. Polarcus offers contract seismic surveys and multi-client projects worldwide and employs over 500 professionals. The Company's principal office is in Dubai, United Arab Emirates. For more information, visit www.polarcus.com

 

 

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)