Ezion / Ezra

Ezion / Ezra: Ezra will divest its holding of 40m shares in Ezion (4.2% of shares out) for $90m, via a placement today fully underwritten by DBS. Transaction price is $2.25 per sale share, a 5.1% discount to Ezion’s last closing price at $2.37. The divestment is part of Ezra’s ongoing capital mgt efforts, and in line with the co’s initiative to rationalize its non-core assets and continue its focus on execution in its core business. Ezra will realize an est net gain of approx US$65.7m (c.8.4 cts per Ezra share). Sale proceeds will be used for working capital, to reduce debt and fund growth and operations of its core business divisions.