Ezion refutes noteholder's claim to early redemption

SINGAPORE'S largest liftboat owner-operator Ezion Holdings in an announcement released after Monday trading close refuted the basis cited by a noteholder to redeem his share of some S$120 million of medium term notes.

Ezion said that, contrary to what was stated in the request received from noteholder, shares in the company have not ceased to be listed or traded on the Singapore Exchange

Instead, Ezion's shares have only been suspended from trading, as requested by the company and stated in its announcement dated Aug 14, 2017.

The company is thus refuting the basis of the noteholder to redeem his share of notes on the view that the condition as invoked in his request has not been triggered.

The request was put forth to Ezion ahead of the company's scheduled meeting with its noteholders on Oct 2. Ezion is expected to seek consent from its noteholders to restructure outstanding notes on its books in support of a broader debt revamp exercise.