Minutes from Extraordinary General Meeting

by polarcus on 13-Apr-16 07:31

Reference is made to the notices of Extraordinary General Meeting published by Polarcus Limited ("Polarcus" or the "Company") (OSE: PLCS) on 22 March 2016.

The Extraordinary General Meeting of Polarcus Limited was held today at the offices of Polarcus DMCC, Almas Tower, Level 32, Jumeirah Lakes Towers, Dubai, U.A.E.

The following shareholder resolutions were passed:

2.1 - approval of the increase in authorized share capital and amendment to the Memorandum of Association

3.1 - approval of the repurchase by the Company of 463,491,579 Class B Shares in consideration for the issue by the Company of 463,491,579 Ordinary Shares at their par value, on or before 30 April 2016. 

The Minutes of Meeting recording the resolutions made and the Amended and Restated Memorandum and Articles of Association are attached.

The New Ordinary Shares will be issued and the Class B shares repurchased on or about 14 April. The New Ordinary Shares will on or about 15 April be registered on the N-OTC under the ticker "PLCSB" in place of the Class B Shares. Subject to approval of the listing prospectus, the New Ordinary Shares will obtain the same ISIN as the Ordinary Shares and be listed on the Oslo Stock Exchange, which is expected to take place in early May.



Hans-Peter Burlid, CFO
+971 50 559 8175


About Polarcus

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


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

Related documents:

Memorandum and Articles of Association

EGM Minutes