Polarcus Limited ("Polarcus" or the "Company") (OSE: PLCS) is pleased to announce that its Nomination Committee has proposed the appointment of Mr. Nicholas Smith as a new director. The Nomination Committee's Report is attached and includes a biography of Mr. Smith.
On 10 February 2017, Polarcus issued a Notice of Extraordinary General Meeting for shareholders to consider proposed resolutions to increase the Company's authorised share capital, approve the private placement described in the Company's press release dated 9 February 2017 ("Polarcus launches equity private placement") and to appoint a new director to be identified by the Nomination Committee.
The Shareholder Proxy Form attached to the Notice of Extraordinary General Meeting includes:
"Resolution No. 3 This is a Special Resolution.
Election of a director to be identified by the Nomination Committee for an initial term expiring at the Company's AGM."
Resolution No. 3 will be deemed to refer to the election of Mr. Nicholas Smith. All proxies received by the Company will construed accordingly.
The Extraordinary General Meeting of Polarcus will be held on 6 March 2017 at 09:00 (Dubai time) at the offices of Polarcus DMCC, Almas Tower, Level 32, Jumeirah Lakes Towers, Dubai, United Arab Emirates. Please see the Company's Notice of Extraordinary General Meeting dated 10 February 2017 for further details including shareholder proxy and attendance slips and instructions for their return.
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