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    Polarcus completes private placement

    Company News // November 19, 2010

    The Board of Directors of Polarcus Limited has announced that the company has completed a Private Placement.

    The book-building period for the Private Placement closed on 18 November 2010, and the Board has resolved to allocate 73,400,000 new shares at a subscription price of NOK 5.30 per share. Total gross proceeds from the Private Placement amounted to approximately US$65 million, and the company will have 403,996,179 shares outstanding after the Private Placement.

    Listing and trading of the Placement Shares on Oslo Axess is subject to approval of a listing prospectus by the Norwegian Financial Supervisory Authority.

    Approval of the listing prospectus is expected to take place on or about 24 November 2010. Allocated shares are expected to be delivered on 24 November 2010.

    The Private Placement was managed by ABG Sundal Collier ASA, SEB Enskilda AS, Pareto Securities AS, and DnB NOR Markets, part of DnB NOR Bank ASA.


     

     

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