NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, HONG KONG OR JAPAN, OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL OR WOULD REQUIRE REGISTRATION OR OTHER MEASURES. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN.
Reference is made to the stock exchange release published by Polarcus Limited ("Polarcus" or the "Company") (OSE: PLCS) on 13 February 2018 regarding the result of the Bond Conversion.
Polarcus is pleased to announce that 98,809,712 new shares of a par value of USD 0.10 each (the "Bond Conversion Shares"), authorized by the Company in connection with the Bond Conversion, have been validly issued and delivered to the unsecured bondholders who elected to receive shares.
Following the issuance of the Bond Conversion Shares, the Company has an issued share capital of USD 48,301,748.20 divided into 483,017,482 shares, each with a par value of USD 0.10. All shares have equal rights in all respects, including with respect to voting and dividends. The Bond Conversion Shares have been issued on a separate ISIN being KYG7153K1739, and will not be tradable on Oslo Børs until a prospectus has been approved and made public, following which the Bond Conversion Shares will be transferred to the Company's ordinary ISIN, being ISIN number KYG7153K1085, and will be listed and tradable on Oslo Børs. The Bond Conversion Shares will be listed on Merkur Market under the ticker PLCS-ME from and including today, 13 March 2018, until the listing on Oslo Børs.
Caleb Raywood, Company Secretary
+971 4 4360 816
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 approximately 350 professionals worldwide. The Company's principal office is in Dubai, United Arab Emirates. For more information, visit www.polarcus.com