Ezra unveils new strategy for TriyardsCompany News // September 6, 2012
Triyards, a wholly-owned subsidiary of Ezra Holdings and the engineering and fabrication division of Ezra (which specialises in the fabrication of self-elevating units and platforms, offshore support vessels and specialised offshore equipment) has secured conditional eligibility to list on the Main Board of the SGX-ST.
Ezra Holdings said the listing will be by way of an introduction whereby Ezra is proposing to distribute Triyards shares by way of dividend in specie to Ezra shareholders.
Ezra proposes to distribute 33 per cent of Triyards 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 per cent in Triyards immediately after the Proposed Distribution and Proposed Introduction.