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PRS - Dolphin Drilling Extension of Waiver and Payment Deferral

Company: Dolphin Drilling AS Date: 2025-05-31 Language: English Register to download

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 Dolphin Drilling Extension of Waiver and Payment Deferral

# Dolphin Drilling Extension of Waiver and Payment Deferral

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.  

  

This information has been submitted pursuant to the Securities Trading Act §  

5-12 and MAR Article 17. The information was submitted for publication at  

2025-05-31 20:39 CEST.