Reference is made to the announcement regarding a consolidation of shares published by Polarcus Limited ("Polarcus" or the "Company") (OSE: PLCS) on 15 May 2017. As resolved by the Annual General Meeting, in order to make the total number of shares in issue divisible by ten and to remove the fractional shares remaining after the consolidation, the Board of Directors has issued four new shares in the Company, at par value. These shares have been issued as treasury shares. Following the consolidation of shares and the share issue, the number of issued shares will be reduced from 1,534,385,386 shares to 153,438,539. The shares in Polarcus will be traded ex consolidation as from 19 May 2017.
Hans-Peter Burlid, CFO
+971 50 559 8175
Polarcus (OSE: PLCS) is an innovative marine geophysical company with a pioneering environmental agenda, delivering high-end towed streamer data acquisition and imaging services from Pole to Pole. Polarcus operates a fleet of high performance 3D seismic vessels incorporating leading-edge maritime technologies for improved safety and efficiency. Polarcus offers contract seismic surveys and multi-client projects with advanced onboard processing solutions and employs nearly 500 professionals worldwide. The Company's principal office is in Dubai, United Arab Emirates. For more information, visit www.polarcus.com