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POLARCUS LIMITED15 min viivästetty

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Polarcus Limited: Patent claim received in Australia

08:00 Polarcus Limited (Polarcus or the Company) (OSE: PLCS) announces that it has accepted service of court proceedings filed by PGS Australia Pty Ltd relating to the acquisition of seismic data on 3 surveys in Australia and the processing of that data. These proceedings follow 3 years of intermittent correspondence from PGS in response to which Polarcus, supported by leading patent counsel, has provided overwhelming evidence that Polarcus activity did not intersect the patent. The claim will be vigorously contested and has no impact on any project outside Australia. PGS principal claim under its patent has previously been held to be unpatentable by the United States Patent and Trademark Office and Polarcus intends to challenge the validity of all relevant aspects of PGS Australian patent. Contacts Caleb Raywood, General Counsel +971 50 189 7146 caleb.raywood@polarcus.com 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 3D seismic vessels incorporating leading-edge maritime technologies for improved safety and efficiency. Polarcus offers contract seismic surveys and multi-client projects with advanced onboard processing solutions and employs approximately 350 professionals worldwide. The Companys principal office is in Dubai, United Arab Emirates. 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. --------------------------------------- This announcement is distributed by West Corporation on behalf of West Corporation clients. The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Polarcus Limited via Globenewswire © GlobeNewswire
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