DOFCON to Issue New Shares

DOFCON ASA has retained Pareto Securities ASA and SEB Enskilda ASA to advise on and effect an equity issue directed toward professional Norwegian and international investors raising gross proceeds of up to NOK200 million (US$32 million).

The purpose of the placement is to strengthen the equity of the company in an expansion phase. DOFCON will issue up to 1.6 million new shares, or approximately 31% of the existing shares of the company, at an issue price of NOK125 (US$20) per share. Current shareholders will be given priority. The equity issue is subject to approval at the EGM to be held on July 25, 2006.

DOF ASA, the largest shareholder in DOFCON ASA, will subscribe for and be allocated a number of shares (at issue price) sufficient for DOF ASA to maintain its relative shareholding in DOFCON ASA.


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