Polarcus award of employee Performance Share Units and Restricted Share Units

Polarcus Limited (“Polarcus” or the “Company”) (OSE: PLCS) announces the award of performance share units (PSUs) and restricted share units (RSUs) to certain employees pursuant to the Company’s 2018 Long Term Incentive Plan, the main terms of which were approved in the Annual General Meeting of the Company on 10 May 2018.  The detailed plan rules were approved by the Company’s Board of Directors, also on 10 May 2018.

A number of employees awarded PSUs and RSUs are also Primary Insiders of the Company. Details of the awards to Primary Insiders and their new holdings are provided below:

Duncan Eley, Chief Executive Officer: awarded 840,000 PSUs and 360,000 RSUs.  He also holds 261,400 options and 489,616 shares.

Hans-Peter Burlid, Chief Financial Officer: awarded 630,000 PSUs and 270,000 RSUs.  He also holds 114,900 options under the 2016 share option scheme and 157,596 shares.

Caleb Raywood, General Counsel & Company Secretary: awarded 350,000 PSUs and 150,000 RSUs.  He also holds 50,000 options and 134,615 shares.

Tamzin Steel, SVP People & Business Services: awarded 350,000 PSUs and 150,000 RSUs.  She also holds 50,000 options and 134,615 shares.

John Scott, VP Sales & Marketing: awarded 175,000 PSUs and 75,000 RSUs.  He also holds 33,000 options.

Ben Bjoerkholt-Boiling, Group Controller: awarded 140,000 PSUs and 60,000 RSUs.  He also holds 27,500 options.  



Duncan Eley, CEO
+971 4 436 0915


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 approximately 350 professionals worldwide. The Company’s principal office is in Dubai, United Arab Emirates. For more information, visit www.polarcus.com


This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.