Grant of employee share options

The Board of Directors of Polarcus Limited (OAX: PLCS) has on 26 April 2012 awarded certain employees share options according to the Company’s new share option plan for employees of which the main terms were approved in the Annual General Meeting of the Company on 26 April 2012.

  

The awarded share options have an exercise price of NOK 5.64 and an exercise period of April 26, 2015 – April 25, 2017.

  

A number of employees awarded share options are Primary Insiders of Polarcus Limited. The share options awarded to the Primary Insiders and their new holdings are detailed below:

  

Rolf Ronningen, Chief Executive Officer; awarded 345,000 new share options. Following the award, he holds 290,000 options under the 2008 share option scheme; 642,600 options under the 2010 share option scheme; 345,000 options under the 2012 share option plan; 1,000,800 shares; and 375,000 warrants. 

  

Carl-Peter Zickerman, EVP & Head of Strategic Investments; awarded 245,000 new share options. Following the award he holds 190,000 options under the 2008 share option scheme; 483,700 options under the 2010 share option scheme; 245,000 options under the 2012 share option plan; 22,948,081 shares; and 7,500,000 warrants. 

  

Tom Henrik Sundby, Chief Financial Officer; awarded 245,000 new share options. Following the award he holds 190,000 options under the 2008 share option scheme; 390,700 options under the 2010 share option scheme; 245,000 options under the 2012 share option plan; 300,000 shares; and 175,000 warrants. 

  

Eirin Martha Inderberg, General Counsel; awarded 245,000 new share options. Following the award she holds 190,000 options under the 2008 share option scheme; 459,500 options under the 2010 share option scheme; 245,000 options under the 2012 share option plan; 540,000 shares; and 500,000 warrants. 

  

Paul Lionel Hanna, SVP Human Resources; awarded 245,000 new share options. Following the award he holds 190,000 under the 2008 share option scheme; 439,100 options under the 2010 share option scheme; 245,000 options under the 2012 share option plan; 974,000 shares; and 375,000 warrants. 

  

Christian Fenwick, SVP Corporate Marketing & Multi-Client; awarded 345,000 new share options. Following the award he holds 190,000 options under the 2008 share option scheme; 439,100 options under the 2010 share option scheme; 345,000 options under the 2012 share option plan; 376,000 shares; and 225,000 warrants. 

  

Christopher Griffin, VP EHS&Q; awarded 195,000 new share options. Following the award he holds 165,000 options under the 2008 share option scheme; 222,100 options under the 2010 share option scheme; 195,000 options under the 2012 share option plan; 570,000 shares; and 375,000 warrants.

  

Trygve Sandvik Reksten, SVP Sales & Marketing; awarded 345,000 new share options. Following the award he holds 190,000 options under the 2008 share option scheme; 313,200 options under the 2010 share option scheme; 345,000 options under the 2012 share option plan; 200,000 shares; and 200,000 warrants.

  

Magnus Oberg, VP Information Technology; awarded 195,000 new share options. Following the award he holds 165,000 options under the 2008 share option scheme; 245,300 options under the 2010 share option scheme; 195,000 options under the 2012 share option plan; 250,000 shares; and 250,000 warrants. 

  

Hans-Peter Sigvard Burlid, Group Controller; awarded 245,000 new share options. Following the award he holds 165,000 options under the 2008 share option scheme; 303,500 options under the 2010 share option scheme; 245,000 options under the 2012 share option plan; 375,000 shares; and 375,000 warrants. 

  

Muhammed Riyaz, Accounting Manager; awarded 90,000 new share options. Following the award he holds 50,000 options under the 2008 share option scheme; 53,800 options under the 2010 share option scheme; 90,000 options under the 2012 share option plan; 0 shares; and 0 warrants. 

  

Duncan Alexander Eley, SVP Marine Acquisition; awarded 345,000 new share options. Following the award he holds 40,000 options under the 2008 share option scheme; 187,200 options under the 2010 share option scheme; 345,000 options under the 2012 share option plan; 0 shares; and 0 warrants. 

  

Philip Michael Fontana, Chief Geophysicist; awarded 345,000 new share options. Following the award he holds 60,000 options under the 2008 share option scheme; 274,400 options under the 2010 share option scheme: 345,000 options under the 2012 share option plan; 50,000 shares; and 0 warrants.


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 (OAX: 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)