Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/by_province/middle_east/polarcus-says-non-cash-impairment-charges-impactin.shtmlPolarcus says non-cash impairment charges impacting Q4 2015
Reference is made to the stock exchange release issued on 6 January 2016 in which Polarcus Limited announced a restructuring plan with support from key stakeholders.
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Reference is made to the stock exchange release issued on 6 January 2016 in which Polarcus Limited announced a restructuring plan with support from key stakeholders.
Furthermore, the Company announced that it had received a request for information regarding impairment of vessels and seismic equipment from The Financial Supervisory Authority of Norway ('Finanstilsynet').
The Company has now completed its impairment review using a value in use test based on discounted cash flows.
