Ezra to list its engineering and fabrication division on SGX

The listing will be via an introduction whereby Ezra proposes to distribute TRIYARDS shares by way of dividend in specie to Ezra shareholders.

TRIYARDS, the wholly-owned subsidiary of Ezra which specialises in the fabrication of self-elevating units and platforms, offshore support vessels and specialised offshore equipment, has received a conditional eligibility to list for its listing on the Main Board of the SGX-ST.

In an announcement, Ezra said it proposes to distribute 33% of TRIYARDS’ issued ordinary shares, or up to 107.2 million ordinary shares, on the basis of one TRIYARDS share for every 10 Ezra shares.

The proposed distribution is subject to the approval of Ezra shareholders at an extraordinary general meeting to be convened. If approved and completed, Ezra will retain a majority control of 67% in TRIYARDS immediately after the proposed distribution and proposed introduction.