Dolphin Group ASA - exercise of employee share options
Exercise of employee share options
1. Participants in the Company's share option programs have on September 2th 2013 exercised a total number of 887 666 options in the Company consisting of 821 666 options at a strike price of NOK 2.50 and 66 000 options at a strike price of NOK 3.00.
The share capital is to be increased by NOK 1 775 332 by the issuance of 887 666 shares.
2. Options exercised by primary insiders September 2th 2013:
Barry Clark has exercised 66 000 options in the Company, corresponding to 66 000 shares at the strike price of NOK 3.00.
Phil Suter has exercise 152 000 options in the Company, corresponding to 152 000 shares at the strike price of NOK 2.50.
Erik Hokholt has exercised 304 000 options in the Company, corresponding to 304 000 shares at the strike price of NOK 2.50.
Atle Jacobsen has exercised 177 333 options in the Company, corresponding to 177 333 shares at the strike price of NOK 2.50.
3. Transfer of rights
On September 2th 2013, the primary insiders Mr. Clark, Mr. Suter, Mr. Hokholt and Mr. Jacobsen 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, Barry Clark holds 234 000 unexercised options in the Company, corresponding to 234 000 shares at the strike price of NOK 3.00. In addition he holds 190 000 unexercised options in the Company, corresponding to 190 000 shares at the strike price of NOK 6.25. As of today the primary insider controls no shares in the Company.
After exercising options, Phil Suter 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 controls 417 272 shares in the Company.
After exercising options, Erik Hokholt 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 1 598 500 warrants corresponding to 1 598 500 shares at the subscription price of NOK 2.50 in the Company. As of today the primary insider direct and indirect controls 3 868 468 shares in the Company.
After exercising options, Atle Jacobsen holds 177 334 unexercised options in the Company, corresponding to 177 334 shares at the strike price of NOK 2.50. In addition he holds 350 000 unexercised options in the Company, corresponding to 350 000 shares at the strike price of NOK 6.25. In addition he holds
1 598 500 warrants corresponding to 1 598 500 shares at the subscription price of NOK 2.50 in the Company. As of today the primary insider direct and indirect controls 4 602 641 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.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).