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Name:Polarcus Limited
Registration number: 
WK 201867
Registered address:

Walker House, 87 Mary Street, George Town, Grand Cayman KY1-9002, Cayman Islands

Legal Status:Exempted company with limited liability and registered with the Cayman Islands Registrar of Companies with registration number 201867
ISIN:
KYG7153K1085
Ticker:
PLCS
Authorized share capital: USD 7,040,000.00 divided into 352,000,000 shares of par value USD 0.02
Issued share capital:

USD 5,263,496.40 divided into 263,174,820 shares of par value USD 0.02

Articles of Association:Latest adopted as per 11 September 2009 Download (PDF file; 0.3 MB)
Independent auditors:Ernst & Young AS
Warrants Program:
  • Warrants of 21.25m shares with a strike price USD 0.02, exercisable dependent on

a) successful delivery of vessels 1-6 within 1 April 2011

b) effective employment of all six vessels

c) that a and b are fulfilled and the share price of the Company has traded at the equivalent of NOK 22 for  more than 30 days on average

  • The warrants will expire on 31 December 2012

  • A change of control (above 50%) will make the warrants exercisable with a strike price depending on the price the shares have traded at

Employee Option Scheme:

 

  • A total of 6.25 million options have been set aside for employees, and the strike price will be equal to the market price when the options are granted. This scheme covers current and future employees.

  • The scheme has a duration of 5 years and options may be exercised after three year of employment.

Registrar:
Skandinaviska Enskilda Banken AB

 

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