U.A.E: Polarcus’ Director Resigns

Polarcus Limited announces that the Board of Directors has today accepted the resignation of Carl-Peter Zickerman as a Director of the Company.

With the previously announced delivery of the 3D seismic vessel, POLARCUS ADIRA, on 21 June 2012 marking the completion of the Company’s eight vessel building program, Polarcus has entered a new phase of maturity. Carl-Peter Zickerman together with the Board of Directors have concluded that with this milestone, combined with the substantial change to the shareholder structure of the Company that took place at the end of 2011, a different Board composition is now appropriate. The Board would like to express its sincere thanks to Carl-Peter Zickerman for his important contributions during his service as a Director through the formative years of the Company. Mr. Zickerman will not be replaced by a new director.

Carl-Peter Zickerman maintains his position within the executive management team of Polarcus where he will continue to focus his resources fully in his capacity as Executive Vice President & Head of Strategic Investments

Polarcus is a pure play marine geophysical company with a pioneering environmental agenda, specializing in high-end towed streamer data acquisition from Pole to Pole. Polarcus operates a fleet of high performance 3D seismic vessels incorporating an innovative design and advanced maritime technologies for improved safety and efficiency. Polarcus offers contract seismic surveys and multi-client projects worldwide and employs over 500 professionals. The Company’s principal office is in Dubai, United Arab Emirates.

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Subsea World News Staff , July 02, 2012;  Image: Polarcus