New board members in Polarcus Limited

The 2016 Annual General Meeting in Polarcus Limited (“Polarcus” or the “Company”) (OSE: PLCS) held on 12 May 2016 made following changes to the composition of the board of directors of the Company.

Mr. Erik Mathiesen, Mr. Tom Henning Slethei and Mr. Peter Zickerman were elected as new board members with a term of office of one year and Mr. Christopher Kelsall was elected as a new board member with a term of office of two years.

Christopher Kelsall is currently providing independent commercial advisory services within the energy sector through Pinecote Capital Limited and was previously CFO and Executive Board member for London listed Mediterranean Oil and Gas until its sale in August 2014. He has served as Non-Executive Board member and Chair of Audit Committee for ASX listed AusGold. He has held senior roles at Deutsche Bank and ABN Amro Rothschild in Hong Kong and London.

Erik Mathiesen is a Founding partner of Storm Capital Management, London, an independent asset management firm focusing on energy, transportation and real estate in the Nordics. He is CEO of Storm Real Estate ASA. He has worked in corporate finance advisory in shipping and oil services as a partner for EC Hambro Rabben, London and in corporate banking at Hambros Bank, London.

Tom Henning Slethei has been an investor in the stock and bond market over almost two decades. He is Chairman and owner of various companies within real estate and finance. He has extensive Board experience including as Chair of the nomination and compensation committees, Noreco ASA, as Chairman of the Board, Jåsund Utviklingsselskap AS and Sola Bredband AS, and as a Director at Forus Naeringspark.

Peter Zickerman has two decades of experience in the seismic industry. He was the Founder of Eastern Echo Ltd where he held the position of Executive Vice President & Business Development and was a member of the board. In 2008 he founded Polarcus Ltd. where he held the position as Executive Vice President & Head of Strategic Investments until February 2016, and was also a member of the board between 2008 and 2012. His experience covers both maritime and seismic operations, strategy and commerce. Peter holds a B.Sc. in Marine Engineering from Kalmar Maritime Academy, Linnaeus University, Sweden.

Outgoing directors, Mr. Tore Karlsson, Mr. Carl-Gustav Zickerman and Mr. Thomas Kichler, informed the Company that they were not available for re-election at the 2016 Annual General Meeting.

Mr. Peter Rigg was re-elected as Chairman with a term of office of one year and Mrs. Karen El-Tawil was re-elected as board member with a term of office of two years.

Following these changes, the board of directors of Polarcus comprises of the following members: Mr. Peter Rigg (Chairman), Mr. Arnstein Wigestrand, Mrs. Karen El-Tawil, Mr. Christopher Kelsall, Mr. Erik Mathiesen, Mr. Tom Henning Slethei and Mr. Peter Zickerman.


Chairman, Peter Rigg said “I’d like to thank all the departing board members for their hard work and commitment during their tenure and particularly during the recent restructuring of Polarcus. I welcome our new directors. I look forward to working with them and the Company’s management to achieve Polarcus’ clear strategic and financial goals and to deliver value to our shareholders.”



Rod Starr, CEO
+971 4 436 0800

Hans-Peter Burlid, CFO
+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)