The Board of Directors of Polarcus Limited ("Polarcus" or the "Company") (OSE: PLCS) has authorized the award of 5,950,000 share options to 29 key employees of the Company.
A number of employees awarded share options are also Primary Insiders of the Company. The share options to Primary Insiders were granted according to the Company's 2014 share option scheme of which the main terms were approved in the Annual General Meeting of the Company on 13 May 2014.The awarded share options have an exercise price of NOK 0.37 and an exercise period of 30 April 2017 to 29 April 2022.
Share options awarded to the Primary Insiders were as follows:
| Duncan Alexander Eley | 500,000 |
| Carl-Peter Zickerman | 350,000 |
| Tom Henrik Sundby | 350,000 |
| Eirin Martha Inderberg | 350,000 |
| Hans-Peter Sigvard Burlid | 350,000 |
| Paul Lionel Hanna | 300,000 |
| Christian Fenwick | 300,000 |
| Ben Bjoerkholt-Boiling | 150,000 |
| Muhammed Riyaz Karattuchali | 100,000 |
After grant, the Primary Insiders who are also employees of Polarcus hold the following number of unexercised share options and shares in the Company:
| Options under 2014 scheme | Options under 2012 scheme | Options under 2010 scheme | Shares | |
| Rod Starr | 1,500,000 | - | - | 1,400,000 |
| Carl-Peter Zickerman | 850,000 | 385,000 | 483,700 | 30,494,744 |
| Tom Henrik Sundby | 850,000 | 385,000 | 390,700 | 575,000 |
| Duncan Alexander Eley | 1,000,000 | 485,000 | 187,200 | 500,000 |
| Eirin Martha Inderberg | 850,000 | 385,000 | 459,500 | 890,000 |
| Hans-Peter Sigvard Burlid | 850,000 | 385,000 | 303,500 | 375,000 |
| Paul Lionel Hanna | 800,000 | 385,000 | 439,100 | 2,000,000 |
| Christian Fenwick | 800,000 | 485,000 | 439,100 | 416,000 |
| Ben Bjoerkholt-Boiling | 250,000 | - | - | - |
| Muhammed Riyaz Karattuchali | 200,000 | 90,000 | 53,800 | - |
| Diane McCleland | - | - | - | - |
Contacts
Rod Starr, CEO Polarcus
+971 4 436 0800
rod.starr@polarcus.com
Tom Henrik Sundby, CFO Polarcus
+971 50 708 6480
tom.sundby@polarcus.com
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 over 600 professionals worldwide. 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)