Ezion's road to redemption starts with shareholders' meeting today

Singapore

OFFSHORE and marine (O&M) group, Ezion Holdings, is looking to win shareholders' approval at an extraordinary general meeting (EGM) on Wednesday, for a debt refinancing plan that will allow the group a fighting chance to ride through the rest of a prolonged sectoral downturn.

The plan involves shareholders voting to dilute their interest, by enabling the company to issue new shares to creditors and other stakeholders. Once the debt refinancing is approved, shareholders will receive warrants.