EMAS OFFSHORE LAUNCHES SINGAPORE LISTING
- EMAS Offshore boosts profile amongst international investment community by providing Asian platform for growth
- Singapore public offer opens at 6.00 p.m. today and closes at 12.00 noon on 2 Oct 2014
EMAS Offshore Limited (“EMAS Offshore”, or the “Group”), formerly known as EOC Limited (“EOC”), is pleased to announce the launch of its public offering of shares following the registration of its prospectus (the “Prospectus”) with the Monetary Authority of Singapore (“MAS”), in conjunction with the proposed listing on the Main Board of the Singapore Exchange Securities Trading Limited (“SGX-ST”). The Group is offering 48,585,000 shares priced at S$1.21 per share.
“We are pleased to have come to this stage where we will be the first company to dual-list in Norway and Singapore to raise funds. I am excited by the prospect of EMAS Offshore and am looking forward to working with Mr Jon Dunstan and his team to repay our investors’ support and confidence,” said Mr Lee Kian Soo, EMAS Offshore’s Executive Chairman.
“This listing in Singapore is a key milestone for the Company. The integration of EMAS Marine’s strong ship management and operations track record with EOC’s floating and fixed platform services and engineering capabilities has created an enlarged platform which will position EMAS Offshore as one of the world’s leading offshore support services provider, with a fleet among the industry’s youngest and strongest. This will give EMAS Offshore the scale to further its expansion plans into growth markets of West Africa, East Africa and MENA” said Mr Jon Dunstan, EMAS Offshore’s Chief Executive Officer.
Three of the major banks in Singapore, namely DBS Bank Limited (“DBS”), Oversea-Chinese Banking Corporation Limited (“OCBC”) and United Overseas Bank Limited (“UOB”) are engaged to assist the Company on the proposed dual listing on SGX-ST. It is led and underwritten by DBS. OCBC has been appointed as joint bookrunner and underwriter with DBS, and UOB as co-lead manager for the listing.
Competitive Strengths
- One of the youngest and largest deepwater OSV fleets based in the heart of the Asia Pacific with strong capabilities to operate in deep waters globally
- Global reach with blue-chip international client base
- Strong parentage: Part of the Ezra Group, a leading integrated offshore solutions group
- First-mover advantages in high-growth and cabotage-protected markets
- Well-positioned to capture market opportunities across business segments
- Highly-experienced and committed management team with proven track record, with an average of over 30 years of experience in the offshore oil and gas industry
- Dedication to quality and reliability
Strategy
- Leverage leading market position in Southeast Asia to further strategic expansion in growth markets of West Africa, East Africa and MENA
- Maintain strong execution capabilities through people excellence and operational reliability
- Achieve fleet optimisation through maintaining one of the youngest OSV fleets with the most up-to-date technologies to ride on growing demand for deep water operations and offshore accommodation
- Leverage synergies with the Ezra Group to penetrate into new markets
The Public Offering
The offering of 48.6 million shares (subject to the over-allotment option) represents approximately 11% of EMAS Offshore’s enlarged post-offering share capital of 439.7 million shares.
The invitation timeline is as follows:
| Event | Date/ Time (Singapore Time) |
| Open of public offer | 29 Sep 2014, 6.00 p.m. |
| Close of public offer | 2 Oct 2014, 12.00 p.m. |
| Commence trading on a “ready” basis | 8 Oct 2014, 9.00 a.m. |
A copy of the Prospectus would be available on the SGX-ST website at www.sgx.com and the MAS website at https://opera.mas.gov.sg/ExtPortal/
ABOUT THE COMPANY
Oslo Børs listing: October 2007
EMAS Offshore is an established offshore oil and gas services provider which offers offshore support, accommodation and offshore production services to customers in the offshore oil and gas industry throughout the oilfield lifecycle, spanning exploration, development, production and decommissioning stages. The Group is headquartered in Singapore with a leading market position in Asia-Pacific region, operating across key markets of Brunei, India, Indonesia, Malaysia, Philippines, Vietnam and Thailand. Outside Asia, EMAS Offshore is also scaling up in growth markets of West Africa, East Africa and MENA.
The Company has two core businesses, namely the Offshore Support and Accommodation Services division, as well as the Offshore Production Services division. EMAS Offshore’s excellent operational and HSE (health, safety and environment) track record has allowed the Company to establish strong working relationships with leading international oil majors, national oil companies and various independent operators.
The Group is an associate company of Singapore Exchange-listed Ezra Holdings Limited, a leading global offshore contractor and provider of integrated offshore solutions to the O&G industry.
FOR FURTHER ENQUIRIES
Mr. Jason Goh
EOC Limited
65 6590 8209