Oslo, 23 July 2025: Reference is made to the stock exchange announcement made by Dolphin Drilling AS (the "Company") on 30 May 2025 regarding the private placement of new shares in the Company, raising gross proceeds of NOK 297,644,400, equal to approx. USD 29 million (the "Private Placement"), and on 22 July 2025 regarding the successful completion of the Private Placement and the Refinancing (as defined therein). Reference is further made to the stock exchange announcement made on 17 June 2025 regarding the Company's extraordinary general meeting resolving to approve inter alia (i) the share capital decrease by reduction of the nominal value of the Company's shares, (ii) the issuance of new shares in the Private Placement, (iii) to grant the board of directors an authorisation to issue new shares (the "Commission Shares") as compensation to the pre-committing investors in the Private Placement, and (vi) issuance of new shares in connection with a proposed subsequent offering.
The Company's board of directors has today resolved to increase the share capital by issue of 2,142,939,150 Commission Shares, as authorised by the extraordinary general meeting (item (iii) above).
Upon registration of the share capital increase, the Company's registered share capital will be NOK 321,992,692.49, divided into 32,199,269,249 shares, each with a nominal value of NOK 0.01.
The following primary insiders of the Company and their close associates have subscribed for Commission Shares:
- Bjørnådal Invest AS, a close associate of chair of the board of directors Ronny Bjørnådal, have subscribed for 48,127,475 Commission Shares.
- B.O Steen Shipping AS, a close associate of board member and primary insider Bertel Steen, have subscribed for 481,274,750 Commission Shares.
Please see the enclosed forms for further details.
For further information, please contact:
Ingolf Gillesdal, CFO
Mob: +47 920 45 320
Mail: Ingolf.gillesdal@dolphindrilling.com
About Dolphin Drilling AS:
Dolphin Drilling AS is an Oslo listed, Aberdeen head-quartered company which owns and operates a fleet of harsh environment mid-water & deep-water semisubmersible drilling rigs, capable of working worldwide.