Stabilization Activities

by polarcus on 02-Nov-09 00:00

Reference is made to the stock exchange notice dated 30 October 2009 at 08:09 CET, regarding potential stabilization activities during the 30 calendar day period starting on the first day of trading of the Polarcus shares at Oslo Axess, as described in the listing prospectus dated 15 September 2009.

 

In connection with the IPO 24,208,111 shares were allotted under an over-allotment facility granted by the Company to the Managers, ABG Sundal Collier Norge ASA and SEB Enskilda AS. ABG Sundal Collier Norge ASA has acted as over-allotment and stabilization manager (the "Stabilization Manager") on behalf of the Managers.

 

The Stabilization Manager has carried out stabilization activities through trading of Polarcus shares in the stabilization period.

 

The Stabilization Manager has acquired a total of 24,208,111 Polarcus-shares between the 30 September 2009, and 29 October 2009, at a volume weighted average price of NOK 4.2395 per share. The lowest price the Stabilization Manager has purchased Polarcus-shares for in the period was NOK 3.60 per share, and the highest price was NOK 4.50 per share. The Stabilization Manager has not sold any shares.

 

The stabilization activities have now ended and the Managers have not and will not utilize the over-allotment option.

 

For further details on the over-allotment facility and the stabilization, please see the prospectus issued in connection with the listing and the offering dated 15 September 2009.

 

Contacts

 

Rolf Ronningen, 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 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 is launching an ultra-modern fleet of initially 4 advanced seismic vessels designed by Norway's Ulstein Design AS incorporating the innovative ULSTEIN X-BOW® hull, with the first vessels becoming operational in 2009. www.polarcus.com