Recent News of Ezion: Ezion announced its formal entry into China's Offshore Windfarm market. It has established a 49:51 JV with Sinotrans & CSC Holdings, called Sinomarine & Teras (Tianjin) Offshore Co. Ltd, to support offshore wind power installation projects in China. Coupled with a strategic partnership with China Huadian Corporation, the trio expect to operate two Service Rigs for offshore wind farm installation project by the end of 2016.
In a separate announcement, Ezion announced that it was doing a rights issue to raise net proceeds of S$135.0-137.5m. The issue price for each rights share is S$0.29, representing a 44% discount from the last traded share price of S$0.52. The ratio is 3 rights:10 ordinary shares, and sees the issuance of up to 487,313,310 new shares. The theoretical ex-rights price (TERP) for this issuance is S$0.467. Proceeds of the rights issue will be used for potential acquisition of new offshore and marine assets, as well as potential upgrading and modification of existing offshore and marine assets.
CEO Mr Chew Thiam Keng and his wife, Mdm Chan, have undertaken an irrevocable undertaking to subscribe and pay for 43.344,000 shares, and underwrite up to a maximum of S$50m (35%) - inclusive of the 43.3m shares earlier mentioned - of the rights issue.
Why Ezion Drop so much today? Rights Issue?
- 7th July2016, Thursday, at 7.00pm - 10.00pm (Registration begins at 6.30pm)
- 7月5号，星期二中文讲座 7点-10点 (Chinese)
Venue : #34-07, 10 Anson Road, International Plaza, Singapore 079903
