Polarcus Limited

Polarcus Limited (in provisional liquidation) ("Polarcus" or the "Company") (OSE: PLCS) refers to the suspension of trading in the Polarcus share announced on 9 March 2021 and to the order ("Order") of the Grand Court of the Cayman Islands ("Court") appointing named individuals as Joint Provisional Liquidators ("JPLs") of the Company (see: announcement dated 9 February 2021, Polarcus: Appointment of Joint Provisional Liquidators).

The Order requires the JPLs to submit a report to the Court by no later than 31 March 2021. The JPLs have informed the directors of the Company that they intend to submit their report within the time limit reference in the Order and the JPLs agree with the Company’s assessment that it is appropriate to maintain the suspension of trading in the Polarcus share.

The Company will issue a further announcement once the report is filed with the Court and as otherwise required in accordance with the Company’s continuing obligations.

Contacts

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

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