Ezion Receives LOI to Supply Service Rig to Southeast Asian Firm for $94M

Ezion Holdings Limited (the Company or Group), a Singapore-based offshore service provider, reported Thursday that it has received a letter of intent with a contract value of up to approximately $94 million over a 5 year period to provide a Service Rig to be used by a Southeast Asian based national oil company to support its oil and gas activities.

The Service Rig is expected to be deployed and working in the Southeast Asian waters by the 1Q 2016.

The abovementioned project is not expected to have a material impact on the Group’s earnings per share or net tangible assets per share for the financial year ending Dec. 31.

None of the Directors or substantial shareholders of the Company has any interest, directly or indirectly, in the abovementioned transaction, save for their shareholdings in the Company.

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