Dolphin- successfully complete private placement (correction)

Dolphin Group ASA: Result of Private Placement

Reference is made to the stock exchange notice dated 21 April 2015 regarding the private placement of new shares in Dolphin Group ASA (the "Company") of up to 70,000,000 new ordinary shares (the "Private Placement"). 

The Company completed the application period for the Private Placement after close on 21 April 2015 and the Private Placement was significantly oversubscribed at a subscription price at NOK 2.05, which is equal to the closing price of the Company’s share on 21 April 2015. Conditional allocation of the new shares has been resolved by the Board of Directors on 21 April 2015 and notices of such allocation will be distributed to the investors on or about 22 April 2015. 

The consummation of the Private Placement is conditional upon the Extraordinary General Meeting of the Company to be held on or around 13 May 2015 approving the issue of shares under the Private Placement. The new shares issued in the Private Placement will not be listed or tradable on Oslo Børs until a listing prospectus for such shares has been approved by the Norwegian Financial Supervisory Authority, expected to be during May 2015. The new shares will be issued under a separate ISIN following the Extraordinary General Meeting. 

The Board of Directors will propose to the EGM to conduct a subsequent offering of up to 7,000,000 new ordinary shares directed towards the Company's shareholders as of 21 April 2015 (as documented by the shareholder register in the Norwegian Central Securities Depository (VPS) on 23 April 2015) who were not given an opportunity to participate in the Private Placement and who are not resident in a jurisdiction where such offering would be unlawful or, (other than Norway) would require any filing, registration or similar action (the "Subsequent Offering"). The subscription price in the Subsequent Offering will be equal to the subscription price in the Private Placement.  A

Arctic Securities AS acted as Manager for the Private Placement. 

For further information, please contact: 

Atle Jacobsen, CEO Mobile: +47 97 71 53 36
E-mail: atle.jacobsen@dolphingeo.com 

Erik Hokholt, CFO Mobile: +47 90 75 60 64
E-mail: erik.hokholt@dolphingeo.com 

Dolphin Group ASA Helsfyr Atrium Innspurten 15 0663 OSLO, NORWAY
Phone: +47 22 07 15 30 Fax: +47 22 07 15 31
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).