Reference is made to the stock exchange notice on 15 May 2017 regarding the purchase of own shares to ensure that no fractional shares are held by any shareholder following the share consolidation. Polarcus held 26,310 treasury shares before the consolidation for this purpose, after the 10:1 consolidation and rounding of shareholders' positions, Polarcus held 2,252 shares. As previously announced Polarcus would dispose the shares not used in the consolidation, hence the remaining 2,252 shares were today sold at an average price of NOK 3.26. Following the transaction, Polarcus does not hold any of its own shares.
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