Grant of employee share options

The Board of Directors of Polarcus Limited (“Polarcus” or the “Company”) (OSE: PLCS) has authorized the award of 5,950,000 share options to 29 key employees of the Company.

A number of employees awarded share options are also Primary Insiders of the Company. The share options to Primary Insiders were granted according to the Company’s 2014 share option scheme of which the main terms were approved in the Annual General Meeting of the Company on 13 May 2014.The awarded share options have an exercise price of NOK 0.37 and an exercise period of 30 April 2017 to 29 April 2022.

Share options awarded to the Primary Insiders were as follows: 

Duncan Alexander Eley 500,000
Carl-Peter Zickerman 350,000
Tom Henrik Sundby 350,000
Eirin Martha Inderberg 350,000
Hans-Peter Sigvard Burlid 350,000
Paul Lionel Hanna 300,000
Christian Fenwick 300,000
Ben Bjoerkholt-Boiling 150,000
Muhammed Riyaz Karattuchali 100,000

After grant, the Primary Insiders who are also employees of Polarcus hold the following number of unexercised share options and shares in the Company:

  Options under 2014 scheme Options under 2012 scheme Options under 2010 scheme Shares
Rod Starr 1,500,000 1,400,000
Carl-Peter Zickerman 850,000 385,000 483,700 30,494,744
Tom Henrik Sundby 850,000 385,000 390,700 575,000
Duncan Alexander Eley 1,000,000 485,000 187,200 500,000
Eirin Martha Inderberg  850,000 385,000 459,500 890,000
Hans-Peter Sigvard Burlid 850,000 385,000 303,500 375,000
Paul Lionel Hanna 800,000 385,000 439,100 2,000,000
Christian Fenwick 800,000 485,000 439,100 416,000
Ben Bjoerkholt-Boiling 250,000
Muhammed Riyaz Karattuchali 200,000 90,000 53,800
Diane McCleland


Rod Starr, CEO Polarcus
+971 4 436 0800

Tom Henrik Sundby, CFO Polarcus
+971 50 708 6480


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 over 600 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)