DCI: Dolphin Capital: Holding(s) in Company

  DCI: Dolphin Capital: Holding(s) in Company

UK Regulatory Announcement

LONDON

For filings with the FSA include the annex          
For filings with issuer exclude the annex

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES^i
                                                         
1. Identity of the issuer or the underlying issuer         DOLPHIN CAPITAL
of existing shares to which voting rights are              INVESTORS LIMITED
attached: ^ ii
2. Reason for the notification (please tick the appropriate box or boxes):
An acquisition or disposal of voting rights                          YES
An acquisition or disposal of qualifying financial instruments
which may result in the acquisition of shares already issued to       
which voting rights are attached
An acquisition or disposal of instruments with similar economic       
effect to qualifying financial instruments
An event changing the breakdown of voting rights                      
Other (please                                                       
specify):
3. Full name of person(s) subject to the        FIR TREE INC.
notification obligation: ^ iii
4. Full name of shareholder(s)                   See box 9 below
(if different from 3.):^iv
5. Date of the transaction and date on
which the threshold is crossed or                1 February 2013
reached: ^v
6. Date on which issuer notified:                6 February 2013
7. Threshold(s) that is/are crossed or           5%
reached: ^vi, vii

8. Notified details:
A: Voting rights attached to shares ^viii, ix
Class/type     Situation previous
of            to the triggering               Resulting situation after the triggering transaction
shares         transaction

if possible    Number          Number          Number       Number of voting       % of voting rights
using          of               of              of shares     rights                  ^x
the ISIN       Shares           Voting          Direct        Direct ^xi  Indirect   Direct   Indirect
CODE                            Rights                                     ^xii
VGG2803G1028   30,700,000       30,700,000      31,205,000    31,205,000             4.84%     

B: Qualifying Financial Instruments
Resulting situation after the triggering transaction
                                                                      Number of voting
                                            Exercise/                 rights that may be
Type of financial        Expiration       Conversion Period        acquired if the       % of voting
instrument                date ^xiii        ^xiv                      instrument is          rights
                                                                      exercised/
                                                                      converted.
                                                                                         

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments ^xv, xvi
Resulting situation after the triggering transaction
                                                      Exercise/       Number of voting
Type of financial   Exercise        Expiration     Conversion      rights            % of voting
instrument           price            date ^xvii      period          instrument         rights ^xix, xx
                                                      ^xviii          refers to
US$ 2,020,000 of                      Maturity        Convertible                        Nominal  Delta
convertible bonds    US$ 0.7239       31.03.2016      until           2,790,440.67
                                                      22.03.2016                         0.43%     

Total (A+B+C)
Number of voting rights                                   Percentage of voting rights
33,995,440.67                                              5.27%

9. Chain of controlled
undertakings through
which the voting rights
and/or the                                                   
financial instruments
are effectively held, if
applicable: ^xxi
FIR TREE INC., investor                                        
manager of:-
                                                                
Fund                       No. of voting rights attached        % of voting
                           to shares                            rights
Fir Tree REF III Master    505,000                              0.08%
Fund, LLC
Fir Tree Value Master      30,700,000                           4.76%
Fund, L.P.
                                                                
                          No. of voting rights through
                           convertible bonds
Fir Tree Capital
Opportunity Master Fund,   2,790,440.67                         0.43%
L.P. (“FCO”)

Proxy Voting:
10. Name of the proxy      N/A
holder:
11. Number of voting
rights proxy holder will   N/A
cease
to hold:
12. Date on which proxy
holder will cease to       N/A
hold
voting rights:

                           Calculation based on:

                           

                           

13. Additional               *642,440,167 total shares in issue.
information:                 *FCO holds convertible bonds convertible to
                               2,790,440.67 shares (based on conversion price:
                               US$0.7239)
                             *If FCO exercised all convertible bonds held
                               (and assuming no other convertible bonds or
                               warrants had been exercised), FCO would hold a
                               total 5.27% of voting rights in the then issued
                               share capital
14. Contact name:          Martin T. Towey, Fir Tree
                           Inc.
15. Contact telephone      212-599-0090
number:

Note: Annex should only be submitted to the FSA not the issuer
Annex: Notification of major interests in shares^xxii

A: Identity of the persons or legal entity subject to the notification
obligation
Full name
                                               Fir Tree Inc.
(including legal form of legal entities)
Contact address                                 505 Fifth Avenue, 23rd Floor

(registered office for legal entities)          New York, NY 10017
                                                Martin T. Towey:

                                                212-599-0090
Phone number & email
                                                

                                                mtowey@firtree.com
Other useful information
                                                See below
(at least legal representative for legal
persons)
                                               
B: Identity of the notifier, if applicable
Full name                                       Caroline-Lucy Moran, Solicitor
                                                Akin Gump LLP

Contact address                                 10 Bishops Square

                                                LONDON E1 6EG
                                                02070129665
Phone number & email
                                                cmoran@akingump.com
Other useful information

(e.g. functional relationship with the person   UK legal counsel
or legal entity subject to the notification
obligation)

C: Additional information

For notes on how to complete form TR-1 please see the FSA website.

Contact:

Dolphin Capital Investors Limited
 
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