Ezra trading suspension leeway bound by MTN clause: market watchers

Singapore

EZRA Holdings is bound by a clause tied to its outstanding medium term notes (MTN) not to enter into a trading suspension exceeding a specified period even though its offshore support vessel-focused subsidiary, Emas Offshore Limited (EOL), has taken the suspension route on both the Singapore and Oslo exchanges, say market watchers.

Both Ezra - a mainboard-listed offshore and marine group - and EOL had in two separate disclosures on Thursday, warned against going-concerns issues. The OSV-focused subsidiary requested a trading suspension on Monday while its parent group resumed trading on Friday after having gone through several trading halts since early February.