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2014-05-14

Polarcus Limited: Grant of employee share options

Polarcus Limited ("Polarcus" or the "Company") (OSE: PLCS) announces the award
of share options to certain employees 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 4.38 and an exercise
period of 14 May 2016 - 13 May 2021.

A number of employees awarded share options are also Primary Insiders of
Polarcus Limited. The share options awarded to the Primary Insiders and their
new holdings are detailed below:

Rolf Ronningen, Chief Executive Officer; awarded 750,000 new share options.
Following the award, he holds 642,600 options under the 2010 share option
scheme; 485,000 options under the 2012 share option scheme; 750,000 options
under the 2014 share option scheme; and 1,000,800 shares.

Carl-Peter Zickerman, EVP&Head of Strategic Investments; awarded 500,000 new
share options. Following the award he holds 483,700 options under the 2010
share option scheme; 385,000 options under the 2012 share option scheme;
500,000 options under the 2014 share option scheme; and 22,948,081 shares.

Tom Henrik Sundby, Chief Financial Officer; awarded 500,000 new share options.
Following the award he holds 390,700 options under the 2010 share option
scheme; 385,000 options under the 2012 share option scheme; 500,000 options
under the 2014 share option scheme; and 350,000 shares.

Duncan Alexander Eley, Chief Operating Officer; awarded 500,000 new share
options. Following the award he holds 40,000 options under the 2008 share
option scheme; 187,200 options under the 2010 share option scheme; 485,000
options under the 2012 share option scheme; 500,000 options under the 2014
share option scheme; and 0 shares.

Eirin Martha Inderberg, General Counsel; awarded 500,000 new share options.
Following the award she holds 459,500 options under the 2010 share option
scheme; 385,000 options under the 2012 share option scheme; 500,000 options
under the 2014 share option scheme; and 590,000 shares.

Paul Lionel Hanna, SVP Human Resources; awarded 500,000 new share options.
Following the award he holds 439,100 options under the 2010 share option
scheme; 385,000 options under the 2012 share option scheme; 500,000 options
under the 2014 share option scheme; and 974,000 shares.

Christian Fenwick, SVP Corporate Marketing&Multi-Client; awarded 500,000 new
share options. Following the award he holds 439,100 options under the 2010
share option scheme; 485,000 options under the 2012 share option scheme;
500,000 options under the 2014 share option scheme; and 376,000 shares.

Hans-Peter Sigvard Burlid, VP Finance; awarded 500,000 new share options.
Following the award he holds 303,500 options under the 2010 share option
scheme; 385,000 options under the 2012 share option scheme; 500,000 options
under the 2014 share option scheme; and 375,000 shares.

Muhammed Riyaz Karattuchali, Accounting Manager; awarded 100,000 new share
options. Following the award he holds 53,800 options under the 2010 share
option scheme: 90,000 options under the 2012 share option scheme; 100,000
options under the 2014 share option scheme; and 0 shares.

Ben Bjoerkholt-Boiling, Group Controller, awarded 100,000 new share options.
Following the award he holds 100,000 options under the 2014 share option
scheme; and 0 shares.

Contacts

Rolf Rønningen, 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 (OSE: 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)

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Polarcus Limited via Globenewswire

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