Polarcus Limited - Mandatory Notification of Trade

3/14/2012 3:27 AM EST

Polarcus Limited ("Polarcus" or the "Company") (OAX: 
PLCS).

Reference is made to the stock exchange notice dated 
14 March 2012 regarding the completed private 
placement (the "Private Placement") of new shares. The 
following primary insiders have been allocated new 
shares in the Private Placement:

Mr. Carl Gustav Zickerman, board member of Polarcus, 
has today through his wholly owned company Zickerman 
Holding Ltd, been allocated 3,100,000 new shares in 
Polarcus at a subscription price of NOK 5.80 per 
share. Following the transaction, Mr. Carl Gustav 
Zickerman owns 40,571,476 shares in Polarcus, 
corresponding to 8.00% of the outstanding number of 
shares in the Company subsequent to the completion of 
the Private Placement.

Mr. Carl Peter Zickerman, board member and EVP of 
Polarcus, has today through his wholly owned company 
Zickerman Group Ltd, been allocated 98,000 new shares 
in Polarcus at a subscription price of NOK 5.80 per 
share. Following the transaction Mr. Carl Peter 
Zickerman owns 22,948,081 shares in Polarcus, 
corresponding to 4.52% of the outstanding number of 
shares in the Company subsequent to the completion of 
the Private Placement.

Mrs. Hege Sjo, board member of Polarcus, has today 
been allocated 65,000 new shares in Polarcus at a 
subscription price of NOK 5.80 per share. Following 
the transaction Mrs. Hege Sjo owns 349,880 shares in 
Polarcus, corresponding to 0.07% of the outstanding 
number of shares in the Company subsequent to the 
completion of the Private Placement.

Mr. Jogeir Romestrand, board member of Polarcus, has 
today through his wholly owned company Rome AS, been 
allocated 95,000 new shares in Polarcus at a 
subscription price of NOK 5.80 per share. Following 
the transaction Mr. Jogeir Romestrand owns 548,880 
shares in Polarcus, corresponding to 0.11% of the 
outstanding number of shares in the Company subsequent 
to the completion of the Private Placement.

Mr. Rolf Rønningen, CEO of Polarcus, has today been 
allocated 77,000 new shares in Polarcus at a 
subscription price of NOK 5.80 per share. Following 
the transaction Mr. Rolf Rønningen owns 1,000,800 
shares in Polarcus, corresponding to 0.20% of the 
outstanding number of shares in the Company subsequent 
to the completion of the Private Placement.


Contacts

Rolf Ronningen, 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 (OAX: 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