ANNOUNCEMENT RELATING TO THE DECISION MADE BY THE STOCK EXCHANGE APPEALS COMMITTEE
The Board of Directors (the “Board”) of EMAS Offshore Limited (the “Company” and together with its subsidiaries, the “Group”) refers to the announcement released by the Company on 15 February 2018, 19 February 2018 and the announcement released by the Oslo Stock Exchange (“OSE”) on 15 August 2018 (“OSE Announcement”) (please see Appendix A).
As stated in the OSE Announcement, the Financial Supervisory Authority of Norway (“FSA”) has on 15 August 2018 resolved to impose the OSE to delist the shares of the Company pursuant to section 25(3) of the Norway Stock Exchange Act (the “Decision”). The OSE has in accordance with the imposition from FSA further announced that the shares of the Company will be delisted from trading on Oslo Børs and the last listing date for the Company's shares will be 28 September 2018.
The Company has further been informed by the FSA that the Company has three weeks from 15 August 2018 to appeal the Decision. The Company is seeking legal advice and will provide further updates when there are material developments.
Shareholders and potential investors should consult their financial, tax or other advisors when in doubt as to what action they should take.
This announcement is subject to disclosure in accordance with section 5-12 of the Norwegian Securities Trading Act.
By Order of the Board
Lee Kian Soo
Director
16 August 2018