UPDATE ON THE REFINANCING OF FINANCIAL OBLIGATIONS AND THE PROVISION OF ADDITIONAL WORKING CAPITAL FACILITIES
1. Introduction 1.1 The Board of Directors (the “Board”) of EMAS Offshore Limited (the “Company” and together with its subsidiaries, the “Group”) wishes to refer to the announcement released by the Company dated 31 August 2017 where the Company announced that the Company and together with its wholly owned subsidiaries, Emas Offshore Pte Ltd, and Emas Offshore Services Pte Ltd, (collectively, the “Singapore Filing Entities”), voluntarily made an application to the High Court of the Republic of Singapore (the “Court”) under section 211(B)(1) of the Companies Act (Chapter 50) (