UPDATE ON RESTRUCTURING PROCEEDINGS COMMENCED IN SINGAPORE
1. GENERAL The Board of Directors (the “Board”) of EMAS Offshore Limited (the “Company” and together with its subsidiaries, the “Group”) refers to the announcements made by the Company on 31 August 2017 and 4 September 2017 (collectively, the “Previous Announcements”). Unless otherwise defined, terms used in the Previous Announcements shall have the same meanings when used herein. 2. MORATORIUM 2.1 At the hearing of the Applications before the High Court of the Republic of Singapore (the “Court”) on 25 September 2017, the Court made the following