Polarcus Limited is pleased to announce that the Board of Oslo Børs today resolved to admit shares in Polarcus Limited for listing on Oslo Axess.
Before the first day of trading Polarcus Limited must:
- fulfil the requirement for at least 100 shareholders holding round lot shareholders, as specified in the Listing Rules section 2.4.2
- fulfil the 25 percent share distribution requirement, cf the Listing Rules section 2.4.1
- have entered into a standard listing agreement
- through the planned issue obtain a minimum of MUSD 112 in new equity.
The president and CEO of Oslo Børs is authorized to determine the first day of listing, which shall be no later than 13 November 2009.
Polarcus Limited has through the successful completion of the Initial Public Offering announced earlier today fulfilled the above requirements and intends to list its share at Oslo Axess on 30 September 2009.
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
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.