Polarcus Extends Bareboat Agreement with SCF Group

Polarcus Limited (PLCS) is pleased to announce the three-year extension of the Bareboat Charter Party Agreement (BBCP) for M/V Vyacheslav Tikhonov (the Vessel) between Polarcus Selma Limited (Polarcus Selma), Polarcus' wholly owned subsidiary, and SCF Sakhalin Supply Limited (SCF).

Reference is made to the stock exchange notice published by Polarcus on 11 August 2011 where Polarcus announced a strategic agreement with SCF Group.

This extension was carried out pursuant to SCF's option within the terms of the current BBCP (in force since 2011). The vessel charter shall continue for a further period of three years starting from 18 August 2016.