Axia acts as financial advisor to Dolphin Capital Investors

€50.0 million and $9.2 million convertible bond issues

Dolphin Capital Investors Limited (“DCI”) announced that it has successfully issued €50.0 million and $9.2 million of convertible bonds (the "Euro Bond Issue" and the "US$ Bond Issue" respectively).
Details of the two issues:
1. Euro Bond Issue – €50.0 million of new 5-year, 5.5% coupon unsecured Euro Convertible Bonds, convertible into DCI common shares at an initial conversion price of €0.5737 per Share; and
2. US$ Bond Issue – $9.2 million of new 5-year, 7.0% coupon unsecured US$ Convertible Bonds, convertible into DCI common shares at an initial conversion price of $0.6717 per Share
The Euro Bond Issue and the US$ Bond Issue were fully subscribed to by funds under the discretionary management of Third Point LLC ("Third Point") and Monarch Alternative Capital LP ("Monarch"), in accordance with the backstop arrangements announced by DCI on 14 March.
Axia Ventures Group Ltd. acted as financial advisor to the Company in connection with the Euro Bond Issue and the US$ Bond Issue.
Third Point is a SEC-registered investment adviser based in New York, with over $13.0 billion in assets under management.
Monarch is an SEC-registered private investment firm with nearly $5.5 billion in assets under management.

About Axia Ventures Group
Axia Ventures Group (‘’AVG’’) is a privately-owned investment banking boutique providing financial advisory and capital market-related services to corporate and institutional clients. AVG is headquartered in Nicosia, Cyprus, regulated by the Cyprus Stock Exchange Commission (License No: 086/07) and fully licensed to provide financial advisory services in significant financial markets around the world. AVG is focused in Greece, Cyprus and the broader region. AVG has presence in Athens (Branch), New York (subsidiary) and also maintains a representative office in London. For more information on AVG and its services, you can visit the AVG website at http://www.axiavg.com/