Ezion Holdings Limited has received a letter of intent with a contract value of up to approximately USD 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 & 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 31st December 2014.
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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Ezion Holdings, January 16, 2014