Polarcus Limited – Mandatory Notification of Trade

Polarcus Limited (“Polarcus” or the “Company”) (OAX: PLCS).

 

Reference is made to the stock exchange notice dated 14 March 2012 regarding the completed private placement (the “Private Placement”) of new shares. The following primary insiders have been allocated new shares in the Private Placement:

 

Mr. Carl Gustav Zickerman, board member of Polarcus, has today through his wholly owned company Zickerman Holding Ltd, been allocated 3,100,000 new shares in Polarcus at a subscription price of NOK 5.80 per share. Following the transaction, Mr. Carl Gustav Zickerman owns 40,571,476 shares in Polarcus, corresponding to 8.00% of the outstanding number of shares in the Company subsequent to the completion of the Private Placement.

 

Mr. Carl Peter Zickerman, board member and EVP of Polarcus, has today through his wholly owned company Zickerman Group Ltd, been allocated 98,000 new shares in Polarcus at a subscription price of NOK 5.80 per share. Following the transaction Mr. Carl Peter Zickerman owns 22,948,081 shares in Polarcus, corresponding to 4.52% of the outstanding number of shares in the Company subsequent to the completion of the Private Placement.

 

Mrs. Hege Sjo, board member of Polarcus, has today been allocated 65,000 new shares in Polarcus at a subscription price of NOK 5.80 per share. Following the transaction Mrs. Hege Sjo owns 349,880 shares in Polarcus, corresponding to 0.07% of the outstanding number of shares in the Company subsequent to the completion of the Private Placement.

 

Mr. Jogeir Romestrand, board member of Polarcus, has today through his wholly owned company Rome AS, been allocated 95,000 new shares in Polarcus at a subscription price of NOK 5.80 per share. Following the transaction Mr. Jogeir Romestrand owns 548,880 shares in Polarcus, corresponding to 0.11% of the outstanding number of shares in the Company subsequent to the completion of the Private Placement.

 

Mr. Rolf Rønningen, CEO of Polarcus, has today been allocated 77,000 new shares in Polarcus at a subscription price of NOK 5.80 per share. Following the transaction Mr. Rolf Rønningen owns 1,000,800 shares in Polarcus, corresponding to 0.20% of the outstanding number of shares in the Company subsequent to the completion of the Private Placement.

 

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)