Ezion Holdings has advised that its Singapore-incorporated wholly owned unit, Teras Conquest 9 Pte Ltd (TC9PL), has been placed in voluntary liquidation from creditors, effective February 10, 2022.

This decision follows a resolution passed at the unit’s extraordinary general meeting, held on February 10.

Teras Conquest 9 is the owner organization of the Teras Conquest 9 jack-up boat built in 2014 at Triyards and ABS rated.

Ezion Holdings sold the vessel in March 2021 to SLH (Tianjin) Ship Leasing for $18.5 million. The company was forced to sell the vessel to repay its secured bank loans.

He also hoped that selling the vessel would prevent him from incurring additional operating costs and liabilities. It was just one of many ships that Ezion sold in the first months of 2021.

To liquidate the business, Oon SU Sun and Lin Yueh Hung, both in the care of RSM Corporate Advisory, have been appointed as co-liquidators. Ezion advised that the voluntary liquidation of TC9PL by creditors is not expected to have a material impact on the group’s net tangible assets or earnings per share for the year ended December 31, 2021.

None of the directors and to the best knowledge of the directors, and none of the controlling shareholders of the company or their respective associates, has any interest, direct or indirect – other than through their respective shareholdings in the company, if any – in the above transaction, the statement from Ezion Holdings reads.

Although shares in the company are currently suspended, shareholders, security holders and investors are advised to consult their stockbrokers, bank managers, lawyers or other professional advisers if they are in any doubt about what action to take or when they deal with their shares or securities of the company.

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