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2016-01-22

Polarcus Limited: Notice from the bondholders' meeting

Reference is made to the stock exchange notice published by Polarcus Limited
("Polarcus" or the "Company") (OSE: PLCS) on 6 January 2016 regarding Summons
for a joint Bondholders' Meeting for the following Bond Issues;

ISIN NO 001 068015.5
- 8 per cent Polarcus Limited Senior Unsecured Callable Bond Issue 2013/2018

ISIN NO 001 071438.8
- FRN Polarcus Limited Senior Unsecured Callable Bond Issue 2014/2019

ISIN NO 001 067043.5
- 2.875% Polarcus Limited Secured Convertible Bond Issue 2011/2016

At the bondholders' meeting held today, 22 January 2016, there were sufficient
Bondholders present to form a quorum in all the three Bond Issues. The
proposed resolutions for a restructuring plan obtained 90.46%, 96.30% and
97.95% of the votes in the respective Bond Issues. Consequently, the
proposals for the restructuring plan were adopted with a sufficient majority
of bondholders under the Bond Agreements.

Please find the notice attached.

Contacts

Tom Henrik Sundby, CFO
+971 50 708 6480
tom.sundby@polarcus.com

Hans-Peter Burlid, VP Finance&Investor Relations
+971 50 559 8175
hp.burlid@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 nearly 500 professionals worldwide. The Company's
principal office is in Dubai, United Arab Emirates. For more information,
visitwww.polarcus.com

This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)

Bondholders meeting notice
http://hugin.info/151377/R/1980702/725638.pdf

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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

HUG#1980702

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