Amendments to application agreement and notice of coupon payment to bondholders in connection with the restructuring proposal

Reference is made to the stock exchange notice published on 6 January 2016 in which Polarcus Limited (“Polarcus” or the “Company”) (OSE: PLCS) summoned to bondholders’ meeting in following Bond Issues;

ISIN NO 001 068015.5 – 8 per cent Polarcus Limited Senior Unsecured Callable Bond Issue 2013/2018

ISIN NO 001 071438.8 – FRN Polarcus Limited Senior Unsecured Callable Bond Issue 2014/2019

ISIN NO 001 067043.5 – 2.875% Polarcus Limited Secured Convertible Bond Issue 2011/2016

Certain amendments have been made to the mix and match application agreement which was attached to the summons as Annex D. The revised application agreement together with a cover letter explaining the changes are attached hereto.

Furthermore, a notice from the bond trustee regarding payment of coupon in the restructuring has been published today. The notice from the bond trustee is attached hereto.



Tom Henrik Sundby, CFO
+971 50 708 6480

Hans-Peter Burlid, VP Finance & Investor Relations
+971 50 559 8175


About Polarcus

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


This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)