UPDATE ON RESTRUCTURING PROCEEDINGS IN SINGAPORE
1. Introduction 1.1 The Board of Directors (the “Board”) of EMAS Offshore Limited (the “Company” and together with its subsidiaries, the “Group”) refers to the announcements made on 31 August 2017, 4 September 2017, and 11 December 2017 (“Previous Announcements”). Unless otherwise defined, terms used in the Previous Announcements shall have the same meanings when used herein. 2. Update on the Restructuring Exercise 2.1 As previously announced, on 11 December 2017, the Singapore Filing Entities filed Scheme Applications in the High Court of the Republic