Ezra Holdings examines options for subsea division - could list in the USNews // January 17, 2014
Ezra Holdings Limited has appointed JP Morgan (SEA) Limited to advise the company on strategic options, aimed at optimising the international profile and competitive position of its subsea services division, EMAS AMC. Potential options include a listing in the US.
The company said it remains committed to the business and the review is intended to unlock value for shareholders and to enhance access to capital.
Commenting on the company’s plans, Lionel Lee, Group CEO and Managing Director, said: “We have built a relatively strong foundation for EMAS AMC. The fundamentals of the subsea industry are positive resulting in strong prospects for our subsea business in areas such as North America and Europe.
"We believe that it is timely for us to review our strategic plans for EMAS AMC as it develops its next phase of growth.
"The company will keep the market and shareholders appropriately informed of further material developments. Shareholders are advised to refrain from taking any action in respect of their shares in the company which may be prejudicial to their interests, and to exercise caution when dealing in the shares."