Mandatory Notification of Trade

Reference is made to the stock exchange release issued on 25 February 2016 in which Polarcus Limited (“Polarcus” or the “Company”) (OSE: PLCS) announced completion of financial restructuring.

The following primary insiders of Polarcus has on 25 February 2016 acquired shares in Polarcus and as a result of the Restructuring converted bond debt to shares in the Company:

Board member Carl-Gustav Zickerman (through his wholly owned company Zickerman Holding Ltd) has partly through purchase at an average price of NOK 0.23 per share and partly through conversion of bond debt increased his holding in Polarcus by 53,915,549 Class B shares. Total holding after the transactions is 53,915,549 Class B shares and 4,986,248 shares in Polarcus which represents 11.1% of the votes and shares in the Company.

Advisor to the company Carl-Peter Zickerman (through his wholly owned company Zickerman Group Ltd) has partly through purchase at an average price of NOK 0.23 per share and partly through conversion of bond debt increased his holding in Polarcus by 55,852,323 Class B shares. Total holding after the transactions is 55,852,323 Class B shares and 3,049,475 shares in Polarcus which represents 11.1% of the votes and shares in the Company. Carl-Peter Zickerman also holds 171,870 stock options in Polarcus. 

  

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