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Emas Offshore succeeds in appeal against Oslo delisting
EMAS Offshore's appeal against being delisted from the Oslo Stock Exchange has succeeded, the offshore gas and oil services provider said in a filing on Friday.
On Feb 16, the Oslo Stock Exchange passed a resolution to delist Emas, which is dual-listed in Singapore and Norway, with effect from Apr 27.
This was due chiefly to the company's inability to disclose financial information within the Oslo Stock Exchange's prescribed deadlines, Emas told the Singapore Exchange then.
Emas appealed against the decision. As stated in an announcement by the Oslo Stock Exchange on Wednesday, the Stock Exchange Appeals Committee has repealed the original resolution to delist Emas, the company said on Friday.
Emas will thus remain listed on the Oslo Stock Exchange. A unit of Ezra Holdings, Emas is undergoing restructuring.