Ezion Secured an Agreement to Jointly Market and Assist in the Operations and Deployment of Two Service Rigs to be Built by a Chinese State Owned Enterprise with Options to Purchase

Jan 13, 2016 14:00 JST

Source: Ezion Holdings Limited

SINGAPORE, Jan 13, 2016 - (ACN Newswire) - The Board of Directors of Ezion Holdings Limited (the "Company" or "Group") is pleased to announce that it has secured an agreement to jointly market two Service Rigs being built by a Chinese State Owned Enterprise to support the offshore windfarm, oil and gas activities in the energy sector.

The Group will also provide the technical expertise for the operations and deployment of the two Service Rigs and has been granted options to purchase the Service Rigs.

The abovementioned agreement 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 31st December 2016.

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.

By order of the Board
Lee Tiong Hock
Company Secretary
12 January 2016

About Ezion Holdings Limited

Ezion Holdings Limited ("Ezion" and together with its subsidiaries the "Group") has 2 main business divisions that specialises in the development, ownership and chartering of strategic offshore assets and the provision of offshore marine logistics and support services to the offshore oil and gas industries.

The Group is the owner of one of the largest and most sophisticated class of Multi Purpose Self-Propelled Jack-up Rigs ("Liftboats") in the world and one of the first to promote the usage of Liftboats in Asia & Middle East. Ezion's Liftboats are used mainly for well-servicing, commissioning, maintenance and decommissioning of offshore platforms.

The Group is also the owner of a fleet of vessels, consisting of tugs, ballastable barges, offshore support vessel and self-propelled barge that are used in the provision of offshore marine logistics and support services to the offshore oil and gas industries. The Group's fleet of ballastable barges, one of the largest in the region, has been specially reinforced and modified to carry the prefabricated modules in the construction of LNG extraction facilities and jackets for the offshore oil and gas industries.

The Group's operating companies also offers a range of services to include marine consulting related to the development & construction and marine logistic solutions for marine offshore facilities. www.ezionholdings.com

Contact Information:

Ezion Holdings Limited
Mr Chew Thiam Keng
Chief Executive Officer
Tel: +65 6309 0565
Fax: +65 6222 7848
Email: ir@ezionholdings.com

Source: Ezion Holdings Limited
Sectors: Gas & Oil, Energy, Alternatives