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Polarcus Ltd (PLCS.OL)

PLCS.OL on Oslo Stock Exchange

0.22NOK
28 Apr 2017
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Latest Key Developments (Source: Significant Developments)

Polarcus signs vessel charter agreement with Sovcomflot
Friday, 21 Apr 2017 01:19pm EDT 

April 21 (Reuters) - Polarcus Limited : :Says signed an agreement on April 21 with Russia's SCF GEO AS (Sovcomflot) for a 5 1/2 year bareboat charter of Polarcus Amani.Says the vessel was delivered on April 21 without streemers, providing the Polarcus fleet with one excess streamer package, and reducing capital expenditure requirements through 2017 and 2018.Says following delivery of the second vessel to Sovcomflot, the Polarcus Group has two vessels on long-term bareboat charter and operates a fleet of four seismic vessels in the contract market.Says the two vessels on long-term bareboat charter provide a total fixed backlog in excess of $100 million with no associated operating costs.  Full Article

Polarcus awarded broadband 3D project in Asia Pacific
Friday, 7 Apr 2017 01:00am EDT 

POLARCUS LTD : REG-POLARCUS AWARDED BROADBAND 3D PROJECT IN ASIA PACIFIC . RECEIVED A CONTRACT AWARD FOR A BROADBAND 3D MARINE SEISMIC PROJECT IN ASIA PACIFIC REGION .PROJECT IS DUE TO COMMENCE IN Q2 2017 AND WILL RUN FOR APPROXIMATELY TWO MONTHS..  Full Article

OFFICIAL-BRIEF-Polarcus announces final results of subsequent offering
Thursday, 6 Apr 2017 02:34am EDT 

Corrects number of shares in second bullet. Company corrected its own statement..POLARCUS LTD : FINAL RESULT OF SUBSEQUENT OFFERING .TOTAL OF 3,912,439 SHARES WERE SUBSCRIBED FOR AT A SUBSCRIPTION PRICE OF NOK 0.33 PER SHARE AND 3,447,789 SUBSCRIPTION RIGHTS WERE UTILISED.  Full Article

Polarcus announces final results of subsequent offering
Wednesday, 5 Apr 2017 07:24am EDT 

POLARCUS LTD : FINAL RESULT OF SUBSEQUENT OFFERING .TOTAL OF 3,366,306 SHARES WERE SUBSCRIBED FOR AT A SUBSCRIPTION PRICE OF NOK 0.33 PER SHARE AND 2,901,656 SUBSCRIPTION RIGHTS WERE UTILISED.  Full Article

Polarcus: vessel utilization for Q1 2017 down at 72%
Tuesday, 4 Apr 2017 01:30am EDT 

POLARCUS LTD : REG-POLARCUS VESSEL UTILIZATION FOR Q1 2017 .VESSEL UTILIZATION IN Q1 2017 72% VERSUS 79% IN Q1 2016.  Full Article

Polarcus: adjustment to conversion price of convertible bond
Thursday, 16 Mar 2017 04:09am EDT 

Polarcus Ltd : Adjustment to the conversion price of the convertible bond .New conversion price is set to $13.8694 per share.  Full Article

Polarcus secures lender support for completion of private placement
Tuesday, 7 Mar 2017 01:00am EST 

Polarcus Ltd : Says has obtained required credit committee and board approvals from bank financing parties under Fleet Bank Facility and DNB Bank ASA with respect to working capital facility . Says conditions for completion of private placement of 1 billion new shares raising 330 million Norwegian crowns ($38.86 million) in gross proceeds set out in stock exchange release published on Feb. 10 [nGNE4r5J7b] are now satisfied .Says shall conduct subsequent offering of up to 122 million shares raising up to about 40 million crowns at same price per share as private placement.  Full Article

Polarcus secures additional backlog in Australia & West Africa
Friday, 3 Mar 2017 01:00am EST 

Polarcus Ltd : Finalized a contract for 3D marine seismic acquisition in Australia . Project is due to commence in Q3 2017 and will run for approximately two months. .Also secured a 30-day extension to West African campaign initially announced on Jan. 09 2017.  Full Article

Polarcus secures further extension to South American campaign
Thursday, 2 Mar 2017 07:18am EST 

Polarcus Ltd : Announced further expansion of the survey area in a 3D marine seismic project in South America . Says client has chosen to exercise expansion option, which will extend project by an additional month .Total duration of campaign extension will be four months, to be acquired in Q2-Q3 2017.  Full Article

Polarcus Q4 EBITDA loss $29.0 million, misses estimates
Tuesday, 21 Feb 2017 01:00am EST 

Polarcus Ltd : Q4 total revenue $47.2 million (Reuters poll $52.0 million) .Q4 EBITDA loss $29.0 million (Reuters poll profit $3.43 million).  Full Article

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