Ezion

Ezion: Grp announced that it has entered into a sales and purchase agreement with Offshore Marine Services and PB Sea Tow Holdings in relation to the divestment of 33 1/3% effective interest in Offshore Marine Services Alliance, a jointly-owned co operating in Australia, for A$35m. The divestment will allow Ezion to better position itself in the long term to continue its focus and support of the LNG related activities in Aus. The divestment is expected to have a positive material impact on Ezion’s consolidated NTA and EPS for FY13. Separately, grp announced that it has received endorsements for it to proceed with the development of a Marine Suply base in the Northern Territory of Aus. The Supply Base is near the main passage for marine activities for oil and gas projects in Northwest Australia, Papua New Guinea and Timor-Leste and in close proximity to O&G projects in the Northern Territory of Aus. Ezion has received LOI’s from several MNCS who are supporting the offshore O&G activities in the vicinity for the use of the Supply Base.There will be certain engineering and developmental works undertaken for the Supply Base after which the Supply Base is expected to be able to provide its basic load out and lay down services to its customers by the end of 2013. Trading to resume at 12p.m