Bondholder summons: Notice of Record Date and Completion Date

Bondholder summons: Notice of Record Date and Completion Date

27 Apr 2021

To the bondholders in:

ISIN NO0010607435: 2.875% Polarcus Limited Secured Convertible Bond Issue 2011/2022 (A Bonds)

ISIN NO0010757263: 0% Polarcus Limited Secured Convertible Bond Issue 2016/2025 (B Bonds)

ISIN NO0010921398: Polarcus Limited NO0010607435 RD 270121

ISIN NO0010921406: Polarcus Limited NO0010607435 IN 270121

Polarcus Limited (in provisional liquidation) (the 'Issuer') refers to the notice of a Bondholders' Written Resolution dated 31 March 2021 in relation to the abovementioned bond issue (the 'Bondholder Summons'). Terms used and not otherwise defined in this announcement shall have the meanings given to them in the Bondholder Summons.

The Issuer hereby notifies the A Bondholders that the Record Date for the purposes of the Restructuring will be 28 April 2021.

The Issuer hereby notifies the A Bondholders that the Completion Date of the Restructuring will be 30 April 2021.

The A Bondholders are reminded that in order to receive their entitlement of HoldCo Shares on the Completion Date they must complete the steps set out in Section 3.6(ii) of the Bondholder Summons by no later than 18:00 (Oslo time) on 29 April 2021.

Any Bondholders requiring further information in relation to this announcement or the Restructuring should refer to the Bondholder Summons.

Contacts

Hans-Peter Burlid, CFO
[phone]
[e-mail]