Reference is made to the stock exchange notice published by Polarcus Limited ("Polarcus" or the "Company") (OSE: PLCS) on 07 October 2014 regarding the completion of an equity private placement (the "Private Placement") as well as the stock exchange notice published by the Company on 20 October 2014 with copy of the minutes of meeting from its Extraordinary General Meeting held on 20 October 2014 under which the Company's authorized share capital was increased i.a. to enable the Company to issue 19,353,679 shares in completion of the Private Placement.
Following the resolution by the Extraordinary General Meeting of the Company, the Board of Directors of Polarcus on 22 October 2014 resolved to issue a total of 19,353,679 new shares in Polarcus as completion of the Private Placement.
Following the registration of the new shares of the Company in the Norwegian Central Securities Depository ("VPS"), the issued share capital of Polarcus is USD 13,396,273.58 divided into 669,813,679 Shares, each with a par value of USD 0.02.
Rolf Rønningen, CEO Polarcus, +971 4 436 0800 / +971 50 459 6982
Tom Henrik Sundby, CFO Polarcus, +971 4 436 0800 / +971 50 708 6480
Polarcus (OSE: PLCS) is a pure play marine geophysical company with a pioneering environmental agenda, specializing in high-end towed streamer data acquisition from Pole to Pole. Polarcus operates a fleet of high performance 3D seismic vessels incorporating an innovative design and advanced maritime technologies for improved safety and efficiency. Polarcus offers contract seismic surveys and multi-client projects worldwide and employs over 500 professionals. The Company's principal office is in Dubai, United Arab Emirates. For more information, visit www.polarcus.com
This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)