Mandatory notification of trade in Polarcus Limited (PLCS)

3/14/2012 5:24 AM EST

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 
Limited.

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 
Polarcus Limited.

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.