Reference is made to the stock exchange releases published by Polarcus Limited ("Polarcus" or the "Company") (OSE: PLCS) on 6 March 2017 regarding the Extraordinary General Meeting's resolution to increase the Company's authorized share capital and 7 March 2017 regarding the fulfilment of the conditions for completion of the Private Placement.
Polarcus is pleased to announce that 1,000,000,000 new shares of a nominal or par value of USD 0.01 each (the "New Shares"), authorized by the Company in connection with the Private Placement, have been validly issued.
Following the issuance of the New Shares the Company has an issued share capital of USD 15,304,729.47 divided into 1,530,472,947 shares, each with a par value of USD 0.01. All shares have equal rights in all respects, including with respect to voting and dividends. The New Shares have been issued on a separate ISIN being KYG7153K1572, and 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 and will be listed and tradable on Oslo Børs. The New Shares will be listed on Merkur Market under the ticker PLCS-ME from and including today, 8 March 2017, 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 nearly 500 professionals worldwide. The Company's principal office is in Dubai, United Arab Emirates. For more information, visit www.polarcus.com