Notice from the bondholders’ meeting
1 Mar 2017
Reference is made to the stock exchange release from Polarcus Limited (“Polarcus” or the “Company”) (OSE: PLCS) published 14 February 2017 regarding the Summons for joint bondholders meetings for the Proposal (as defined in the Summons).
Two bondholders meetings were held today at 13:00 CET, at Nordic Trustees offices in Oslo, Norway in the following bond issues:
* ISIN NO 001 0680150 and ISIN NO 001 0757248 – 8 per cent Polarcus Limited Senior Unsecured Callable Bond Issue 2013/2018 (the “USD Denominated Bonds”)
* ISIN NO 001 0714389 and ISIN NO 001 0757255 – FRN Polarcus Limited Senior Unsecured Callable Bond Issue 2014/2019 (the “NOK Denominated Bonds”)
There were sufficient Bondholders present to form a quorum in both meetings. The proposed resolutions for the Proposal obtained 100% in favour in the USD Denominated Bonds and 99.51% in favour in the NOK denominated bonds. Hence, both bondholders’ meetings approved the presented Proposal. Implementation is subject to fulfillment of the Conditions for the Private Placement as set out in the stock exchange release of 9 February 2017.
Please find attached the Notice from the Bondholders’ Meeting issued by the Bond Trustee.
Hans-Peter Burlid, CFO
+971 50 559 8175
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 www.polarcus.com
The information included herein may contain forward-looking statements. Forward- looking statements include all statements that are not historical facts, including but not limited to statements expressing or implying the Company’s intent, belief or current expectations with respect to, among other things, forecasts, estimates, and predictions. Such forward-looking statements necessarily involve risks and uncertainties and are dependent on assumptions, information, data or methods that may be incorrect or imprecise. Actual results could differ materially from expectations expressed in the forward-looking statements if one or more of the underlying assumptions or expectations proves to be inaccurate or is unrealized. Some factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, developments in the oil and gas industry, the demand for seismic services, the demand for data from the Company’s multi-client library, currency risks, political risks, regulatory risks, and unexpected operational setbacks. For a further description of other relevant risk factors we refer to our 2015 Annual Report. The reservation is also made that inaccuracies or mistakes may occur in the information given above concerning the current status of the Company or its business. Any reliance on the information given above is at the risk of the reader, and Polarcus disclaims any and all liability in this respect.
This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.