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 releases published by Polarcus Limited ("Polarcus" or the "Company") (OSE: PLCS) on 25 January 2018 regarding the restructuring of the Company's balance sheet (the "Restructuring") through inter alia a private placement (the "Private Placement") and a bond conversion (the "Bond Conversion"), and on 23 February 2018 regarding the satisfaction of the conditions for the Private Placement.
The shares to be issued in the Private Placement and Bond Conversion (the "New Shares") will have the temporary ISIN KYG7153K1739 (and not the previously announced temporary ISIN which is incorrect).
As previously notified, the New Shares will not be tradable on Oslo Børs until a prospectus has been approved and made public, following which the New Shares will be transferred to the Company's ordinary ISIN, being ISIN number KYG7153K1085, and will be listed and tradable on Oslo Børs. Prior to such transfer, the New Shares are expected to be listed on the Merkur Market.
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