Dolphin Group seeks restructuring solution

Dolphin Group ASA (OSE: DOLP), which supplies marine geophysical services worldwide and is the parent company of subsidiary Dolphin Geophysical AS, is continuing to work with its advisors on various restructuring proposals, but has yet to reach an agreement with the group's main stakeholders that will allow for completion of the company’s restructuring.

Without a firm solution accepted by the group's main stakeholders, and in light of Dolphin's financial situation, the company’s board of directors is of the opinion that the group's current business cannot be continued as it is currently being carried out. On this basis, the board of directors has resolved to search for alternative solutions, and, unless an acceptable solution can soon be reached with the group's relevant stakeholders, Dolphin will have no choice but to file for insolvent liquidation of the company.

 

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