Mandatory notification of trade in Polarcus Limited (PLCS)
On the 29/02/2012, Sabaro Investments Limited
("Sabaro") flagged that Sabaro controlled 80,102,834
shares, representing approximately 17.15% of the
issued share capital in Polarcus Limited.
Reference is made to the stock exchange notice dated
14/03/2012 regarding the completed private placement
(the "Private Placement") of new shares in Polarcus
Sabaro has today, 14/03/2012, been allocated
6,800,000 new shares in Polarcus Limited at a
subscription price of NOK 5.80 per share.
Following this transaction Sabaro directly controls
46,902,834 cash shares representing approximately
9.25 % of the issued share capital subsequent to the
completion of the Private Placement and 40,000,000
forward shares representing approximately 7.88 % of
the issued share capital subsequent to the completion
of the Private Placement. In total Sabaro now
controls 86,902,834 shares representing approximately
17.13 % of the total issued share capital subsequent
to the completion of the Private Placement in
The forward contracts can be exercised at any time
and mature on 10 May 2012.
Mr. Erik Henriksen acts as an advisor to Sabaro. Mr.
Erik Henriksen is a member of the board of directors
of Polarcus Limited.