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.
This information is subject to disclosure under the Norwegian Securities
Trading Act, §5-12. The information was submitted for publication at
2025-07-23 22:03 CEST.