EOC Limited: Completion of Private Placement

SINGAPORE--()--Regulatory News:

(OSE:EOC)

EMAS Offshore Limited ("EMAS" or the "Company") refers to its announcement on 2 October 2014.

The Company hereby announces that the secondary sale of shares held by Ezra Holdings Limited (“Ezra”) to certain Eligible Shareholders (the "Private Placement") announced on 2 October 2014 and conducted as an overnight placement has been completed. No Shares were sold through the Private Placement. As previously announced, the Private Placement was to be conducted at an offer price of NOK 6.13 per share. As no shares have been sold in the Private Placement, Ezra's shareholding remains unchanged at 330,844,316 shares in EMAS, equal to 75.25% of the issued share capital of EMAS (on a fully diluted basis taking into account the new shares issued as a result of the Singapore Offering and the Business Combination as referred to in the announcement made by the Company today). The shares of EMAS closed at NOK 4.95 as of close of Oslo Børs Wednesday 2 October 2014.

The Private Placement was to be undertaken to ensure that existing shareholders of the Company are given an opportunity to acquire additional shares in the Company and thus limit the dilution caused by the Singapore Offering. The secondary sale to the remaining shareholders who were registered in the VPS on 15 August 2014 (the "Record Date") is expected to commence on or about 8 October 2014, subject to the publication of a prospectus to be approved by the Financial Supervisory Authority of Norway.

DNB Markets acted as Bookrunner for the Private Placement.

This announcement is subject to the disclosure requirements of the Norwegian Securities Trading act section 5-12

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Contacts

For further information, please contact:
Mr. Jason Goh
EMAS Offshore Limited
+ 65 6590 8209
jason.goh@emas.com

Contacts

For further information, please contact:
Mr. Jason Goh
EMAS Offshore Limited
+ 65 6590 8209
jason.goh@emas.com