Polarcus Limited (“Polarcus” or the “Company”) (OSE: PLCS) refers to its announcement dated 17 December 2019 regarding the scheduled redelivery of “Vyacheslav Tikhonov” (the “Vessel”).

It has been agreed with Sovcomflot (“SCF”) to postpone the redelivery of the Vessel until the completion of work which SCF has been awarded by a third party in Asia. SCF continues to seek further projects for the Vessel after the awarded assignment. Subject to any future agreement, redelivery is expected to occur in the second half of Q2, 2020.

The current ‘charter back’ of the Vessel will expire on the Vessel’s arrival at the project mobilisation port in Asia. 

Contacts

Hans-Peter Burlid, CFO
+971 50 559 8175
hp.burlid@polarcus.com

About Polarcus

Polarcus (OSE: PLCS) is an innovative marine geophysical company with a pioneering environmental agenda, delivering high-end towed streamer data acquisition and imaging services from Pole to Pole. Polarcus operates a fleet of high performance seismic vessels with 3D and 4D imaging capabilities, which incorporate leading-edge maritime technologies for improved safety and efficiency. Polarcus offers contract seismic surveys and multi-client projects with advanced onboard processing solutions. The Company services its clients globally from its head office in Dubai and regional offices located in Houston, London and Singapore. For more information, visit www.polarcus.com

This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.