Exercise of employee share options in company Dolphin Group ASA ("the Company")

1. Participants in the Company's share option programs have on March 8th 2013 exercised a total number of 2 014 494 options in the Company consisting of 52 500 options at a strike price of NOK 2.25 per share, 1 595 330 options at a strike price of NOK 2.50 and 366 664 options at a strike price of NOK 3.00.

The share capital is to be increased by NOK 4 028 988 by the issuance of 2 014 494 shares.

2. Options exercised by primary insiders March 8th 2013:

Bjarne Ole Stavenes has exercised 100 000 options in the Company, corresponding to 100 000 shares at the strike price of NOK 2.50.

Peter Allan Hooper has exercise 152 000 options in the Company, corresponding to 152 000 shares at the strike price of NOK 2.50.

3. Transfer of rights

On March 8th 2013, the primary insiders Mr. Stavenes and Mr. Hooper mentioned above transferred their rights to receive shares resulting from the exercise of options to a third party. The sales amount will be finally determined on the basis of the price subsequently obtained by the third party when selling the shares in the market. Still, primary insiders cannot be held liable for losses incurred by the third party if the shares are later sold below the strike price. Final compensation for the transferred rights will be reported to Oslo Børs when known.
 

4. New holding

After exercising options, Bjarne Ole Stavenes holds 356 000 unexercised options in the Company, corresponding to 356 000 shares at the strike price of NOK 2.50. In addition he holds 300 000 unexercised options in the Company, corresponding to 300 000 shares at the strike price of NOK 6.25. In addition he holds 1 198 500 warrants corresponding to 1 198 500 shares at the subscriptionprice of NOK 2.50 in the Company.As of today the primary insider holds 991 212 shares in the Company.


After exercising options, Peter Allan Hooper holds 152 000 unexercised options in the Company, corresponding to 152 000 shares at the strike price of NOK 2.50. In addition he holds 300 000 unexercised options in the Company, corresponding to 300 000 shares at the strike price of NOK 6.25. In addition he holds 1 198 500 warrants corresponding to 1 198 500 shares at the subscription price of NOK 2.50 in the Company. As of today the primary insider holds 1 680 607 shares in the Company.

This information is subject of the disclosure requirements according to section 5-12 of the Norwegian Securities Trading Act.

For further information, please contact:

Nina Midtlie, Group Financial Director          
Mobile:+47 98 20 63 78
E-mail:nina.midtlie@dolphingeo.com


Dolphin Group ASA
Helsfyr Atrium
Innspurten 15
0663 OSLO

Phone:+47 23 16 70 00
Fax:+47 23 16 71 80         

www.dolphingroup.no  
www.dolphingeo.com

Dolphin Group ASA is the parent company of Dolphin Geophysical AS, a global full-range, asset light supplier of marine geophysical services. Dolphin operates a fleet of new generation, high capacity seismic vessels and offers contract seismic  surveys, Multi-Client projects and processing  services on a worldwide basis. Dolphin Group ASA is listed at Oslo Stock Exchange (OSE ticker: DOLP).

About Us

Dolphin Group ASA is the Parent company of Dolphin Geophysical AS, a global full-range, asset light supplier of marine Geophysical services. Dolphin operates a fleet of new generation, high-capacity seismic vessels and offers contract seismic surveys, Multi-Client projects and processing services on a worldwide basis. Dolphin Group ASA is listed at Oslo Stock Exchange (OSE ticker: DOLP).

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