EOC Limited: EMAS - Secondary Sale by Ezra

Regulatory News:

EMAS Offshore Limited ("EMAS" or the "Company")(OSE:EOC) refers to the shareholder's circular released on 7 August 2014. As part of the secondary sale, Ezra Holdings Limited will undertake a private placement as the first of two steps of a secondary sale of shares (the "Private Placement") to shareholders registered in the VPS on 15 August 2014 (the "Record Date") who were eligible to vote at the Company’s EGM on 22 August 2014 (the "Eligible Shareholders"). The Private Placement is directed to Eligible Shareholders holding more than 1% of the issued Shares in a single VPS account as of the Record Date. Remaining Eligible Shareholders will receive an offer to buy secondary shares on the same terms as the Private Placement through a prospectus to be published on 8 October 2014.

The Private Placement will include the sale of up to 15,059,114 shares.

The offer price of the shares in the Private Placement will be NOK 6.13 (which is the NOK equivalent of the Singapore offering price of SGD 1.21 at the SGD/NOK exchange rate on 29 September 2014, being the date of the commencement of the Singapore offering). The shares of EMAS closed at NOK 4.90 as of close of Oslo Børs yesterday, 1 October 2014.

The secondary sale is 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.

DNB Markets is acting as Bookrunner for the Private Placement.

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

This information was brought to you by Cision http://news.cision.com