OSLO – May 31, 2025 – Dolphin Drilling AS (Dolphin Drilling AS, OSE: DDRIL): Reference is made to previous stock exchange announcement by the company dated April 30, 2025, and May 4, 2025, with respect to certain waivers and payment deferrals under its existing USD 65 million facility agreement dated December 22, 2023 with security inter alia over the rig "Paul B Lloyd Jr." (the "Secured Facility").
Reference is further made to stock exchange announcement of yesterday regarding the successful private placement of new shares in the company for gross proceeds of approximately NOK 297,644,400, equivalent to approximately USD 29 million (the "Private Placement").
In contemplation of the consummation of the Private Placement, the company has today entered into an updated amendment to the Secured Facility providing for continued amortisation relief of the instalments payable in April 2025, May 2025 and June 2025, waiver of the market capitalisation covenant and waiver of certain other requirements under the Secured Facility until July 31, 2025, subject to consummation of the Private Placement and certain transactions contemplated thereby on or before such date.
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.