Dovre Group Oyj — M&A Activity 2015

May 28, 2015

Merger between Dovre Group and NPC completed

Merger between Dovre Group and NPC completed

Espoo, Finland, 2015-05-28 14:00 CEST (GLOBE NEWSWIRE) --
Dovre Group Plc Stock exchange bulletin May 28,
2015 at 3 pm

Merger between Dovre Group and NPC completed

The merger between Dovre Group Plc (Dovre Group) and Norwegian Petroleum
Consulting Group AS (NPC), announced on March 4, 2015, has been completed
today, May 28, 2015. As a result of the transaction, Dovre Group has received
100% of the shares in NPC in exchange for 36,453,018 new shares (Consideration
Shares) in Dovre Group and a cash component of EUR 410,300 paid to the sellers.
The original cash component was adjusted down by EUR 64,700 based on NPC's
audited financials for 2014. The Consideration Shares are subject to a three
(3) year lock-up commitment from the date of issue and a total of 3,000,000
Consideration Shares has been accepted as pledge against the fulfilment of the
terms of the contract. The Consideration Shares will be entered in the Finnish
trade register on June 4, 2015. Dovre Group will publish a prospectus required
for listing the Consideration Shares at a later date in connection with their
listing.

As part of the transaction, an extra dividend of EUR 0.06 per share will be
paid to the shareholders of Dovre Group. The dividend is paid to a shareholder
who, on the dividend record date September 23, 2015 is registered as a
shareholder in the Company's shareholder register maintained by Euroclear
Finland Ltd. The dividend will be paid on September 30, 2015. The Consideration
Shares are not entitled to the extra dividend.

NPC is a Norwegian privately-held company providing staffing services to the
oil & gas industry. An award-winning growth company, NPC has operations in
Norway, South East Asia, the US, and the UK. In 2014, NPC recorded net sales of
NOK 577 million (around EUR 67 million) and an EBITDA of NOK 18.5 million
(around EUR 2.2 million) excluding non-recurring items. NPC's audited 2014
financials are attached to this bulletin. NPC has around 350 employees.

Synergies of the merger are estimated to be around EUR 1 million annually in
value. The full effect of the synergies has been estimated from 2016 onwards.
The merger involves also non-recurring items including restructuring costs
which will be reported in connection with the Group's next interim reports.

Following the completion of the merger, the Board of Directors of Dovre Group
has appointed a new Group Executive Team effective as of May 28, 2015:

Patrick von Essen, Chief Executive Officer
Heidi Karlsson, Chief Financial Officer
Stein Berntsen, President of Business Area Consulting
Frank Ween, President of Business Area Americas & EMEA
Arve Jensen, President of Business Area Norway
Ole Olsen, President of Business Area Asia Pacific

“We are all very enthusiastic about the merger,” comments Patrick von Essen,
Dovre Group's CEO. “There are obvious synergies; a much larger global
footprint, market leadership in Norway, a more complete offering, significant
cross-selling opportunities, cost savings as well as improved economies of
scale. Integration planning is progressing according to plan, and we can now
start the implementation.”

For additional information, please contact:

DOVRE GROUP PLC
Patrick von Essen, CEO
tel. +358-20-436 2000
patrick.essen@dovregroup.com
www.dovregroup.com

Dovre Group is a global provider of project management services. Dovre Group
has two business areas: Project Personnel and Consulting. Dovre Group has
offices in Norway, Canada, the US, Singapore, South Korea, the UAE, Russia,
Finland and Sweden, and employs around 850 people worldwide. Dovre Group is
listed on the NASDAQ OMX Helsinki (symbol: DOV1V). Company web site
www.dovregroup.com

DISTRIBUTION
NASDAQ OMX Helsinki Ltd
Main media
www.dovregroup.com

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