Resolution to issue new shares in connection with employee exercising options

by polarcus on 20-Mar-13 08:30

Polarcus Limited ("Polarcus" or the "Company") (OSE: PLCS) has received notification of the exercise of 25,000 options in the Company into shares at an option exercise price of NOK 3.58 per share.


Following this share option exercise, the Board of Directors of Polarcus has, under its authorization to issue new shares to meet the Company's obligation under the option programs, resolved to issue a total of 25,000 new shares in Polarcus.


Following the registration of the issued shares of the Company in the Norwegian Central Securities Depository ("VPS") the issued share capital of Polarcus after the share issue is USD 10,144,423.58 divided into 507,221,179 shares, each with a par value of USD 0.02.


No primary insiders have exercised options.

 

Contacts

 

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

 

About Polarcus

 

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)