RESTRUCTURING PROCEEDINGS COMMENCED IN SINGAPORE
The Board of Directors (the “Board”) of EMAS Offshore Limited (the “Company” and together with its subsidiaries, the “Group”) wishes to announce that on 29 August 2017 the Company entered into a binding term sheet (“Term Sheet”) with certain potential investors as part of the financial restructuring of the Group (“Restructuring”). More details relating to the Term Sheet will be disclosed by the Company in a separate announcement. In connection with the Restructuring, the Company, together with its wholly owned subsidiaries, Emas Offshore Pte Ltd, and Emas Offshore Services Pte Ltd, (