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Just get a lot of loans when the market is hot. Yision must be laughing as they didn?t get the deal becoz of Covid ..
Think must interview the management on how they bring down the company and write a book so other companies know what to do when in crisis.
Trade with awareness and DYODD
Trade with awareness and DYODD
Ezion Holdings to apply to delist from SGX
THE liquidators of Ezion Holdings are planning to apply for the company to be delisted from the Singapore Exchange (SGX).
The beleaguered liftboat operator had previously stated it faced difficulties procuring investment, and was unable to proceed with its restructuring and recapitalisation plans. It went into liquidation in February.
In a bourse filing on Friday (May 20), the liquidators said their review found that the company is insolvent and its debts far exceed its realisable assets.
&ldquo The company had been looking for an investor for some time prior to the liquidation, to no avail. There are no suitable and/or appropriate restructuring proposals presented to or made available to the company by any potential investor,&rdquo they added.
The liquidators also assessed that the company is not in a position to make any distribution or an exit offer to shareholders.
Therefore, they intend to apply to SGX to delist the company. More details will be made when there are material developments.
Endgame.
I'm waiting for this day. Don't like to see it in CDP account..
Finally a closure for many. Karma is impartial.
Trade with awareness and DYODD
I'm waiting for this day. Don't like to see it in CDP account..
Finally a closure for many. Karma is impartial.
Trade with awareness and DYODD
Just surprised my Ezra is still suspended (since donkey years ago) but this Ezion supposedly the " strongest" of the offshore players pre oil price collapse is now delisting when oil price is at a high.
Observers ( Date: 20-May-2022 19:16) Posted:
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The End?
APPLICATION FOR DELISTING OF THE COMPANY Ezion Holdings Limited (In Liquidation) (the &ldquo Company&rdquo ) refers to the previous announcements made on 28 January 2022, 9 February 2022 and 18 February 2022 in respect of the compulsory liquidation of the Company. The Liquidators wish to update as follows:- 1. the Liquidators intend to put forth an application to the SGX-ST for the Company to be delisted pursuant to Listing Rule 1306, and in connection therewith, for a waiver from the requirements of Listing Rules 1307 and 1309. This is having regard to the following: (a) The Liquidators&rsquo review indicates that the Company is insolvent and the Company&rsquo s debts far exceed its realisable assets. (b) The Company had been looking for an investor for some time prior to the liquidation, to no avail. There are no suitable and/or appropriate restructuring proposals presented to or made available to the Company by any potential investor.
(c) The Company is not in a position to make any distribution to shareholders or make an exit offer made to shareholders.
2. Further updates and announcements would be made as and when there are material developments. BY THE LIQUIDATORS FOR AND ON BEHALF OF EZION HOLDINGS LIMITED (In Liquidation) Ng Kian Kiat and Goh Wee Teck Joint and Several Liquidators 20 May 202
APPLICATION FOR DELISTING OF THE COMPANY Ezion Holdings Limited (In Liquidation) (the &ldquo Company&rdquo ) refers to the previous announcements made on 28 January 2022, 9 February 2022 and 18 February 2022 in respect of the compulsory liquidation of the Company. The Liquidators wish to update as follows:- 1. the Liquidators intend to put forth an application to the SGX-ST for the Company to be delisted pursuant to Listing Rule 1306, and in connection therewith, for a waiver from the requirements of Listing Rules 1307 and 1309. This is having regard to the following: (a) The Liquidators&rsquo review indicates that the Company is insolvent and the Company&rsquo s debts far exceed its realisable assets. (b) The Company had been looking for an investor for some time prior to the liquidation, to no avail. There are no suitable and/or appropriate restructuring proposals presented to or made available to the Company by any potential investor.
(c) The Company is not in a position to make any distribution to shareholders or make an exit offer made to shareholders.
2. Further updates and announcements would be made as and when there are material developments. BY THE LIQUIDATORS FOR AND ON BEHALF OF EZION HOLDINGS LIMITED (In Liquidation) Ng Kian Kiat and Goh Wee Teck Joint and Several Liquidators 20 May 202
Karma will do the job in meting out punishment for those responsible.
Don't waste time and money on them.
Trade with awareness and DYODD
Don't waste time and money on them.
Trade with awareness and DYODD
From experience, legal action in Singapore will be lengthy and not be cheap. We will need to get as many participants as possible to make this work.
Problem is ppl may pump in more money thinking it'll rebound one day.
If ppl have done their homework then they should pull out of Ezion before it goes into suspension.
The signs are very clear but ppl just want to take the risk.
Trade with expectation and DYODD
If ppl have done their homework then they should pull out of Ezion before it goes into suspension.
The signs are very clear but ppl just want to take the risk.
Trade with expectation and DYODD
yau123 ( Date: 22-Feb-2022 09:01) Posted:
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Can investors team up for a legal action against the management?
TimTheKing ( Date: 21-Feb-2022 22:47) Posted:
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The rats have started abondoning the ship...
Exactly! why go suspension really dont understand. At least give us a chance to sell at 1-2 cents at least to get back something. Now 0. The China developer Evergrade have so much debt also still trading.
TimTheKing ( Date: 21-Feb-2022 22:47) Posted:
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I lost 5 figures. I was not allowed to sell all this while due to suspension. Not really fair to investors.
The management has taken care of their own interest. They gave investors false hopes during AGM in the past.
We invested in both Ezion and KS Energy, which has both turned out to be a disaster. Both companies were managed by incompetent people unfamiliar with the oilfield industry but nonetheless invested heavily in drilling assets.
RexxarLoh ( Date: 10-Feb-2022 21:31) Posted:
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Ezion Holdings to go into liquidation
BELEAGUERED liftboat operator Ezion Holdings is going into liquidation, the company announced late on Friday (Feb 18).
Its winding up application, which was filed last month, has been granted by the High Court. RSM Corporate Advisory' s Ng Kian Kiat and Goh Wee Teck were appointed as joint and several liquidators.
The company had previously stated it faced difficulties procuring investment and was unable to proceed with its restructuring and recapitalisation plans.
" A liquidation of the company is in the best interests of its creditors as it is the most time-efficient and cost-effective manner to realise the value from the company' s remaining assets," Ezion said earlier this month.
Game over
The hole is dug and the coffin is placed inside. Now the hole is filling up.
Everybody related will be informed by letter.
Trade with RIP and DYODD
Everybody related will be informed by letter.
Trade with RIP and DYODD
Game over? Oil price rise also no use.
OUTCOME OF THE APPLICATION FOR THE WINDING UP OF THE COMPANY
1. INTRODUCTION The Board of Directors (the &ldquo Board&rdquo ) of Ezion Holdings Limited (In Compulory Liquidation) (the &ldquo Company&rdquo , together with its subsidiaries, the &ldquo Group&rdquo ) refers to the previous announcements made on 28 January 2022 and 9 February 2022 (the &ldquo Previous Announcements&rdquo ). Capitalised terms used but not defined herein shall have the meanings as ascribed to them in the Previous Announcements.
2. OUTCOME OF THE WINDING UP APPLICATION OF THE COMPANY Pursuant to the Previous Announcements, the Company would like to update its shareholders that on 18 February 2022, the Court granted the Winding Up Application in HC/CWU 21/2022 for the Company to be placed into liquidation and for Messrs Ng Kian Kiat and Goh Wee Teck of RSM Corporate Advisory Pte Ltd to be appointed as joint and several liquidators (&ldquo Liquidators&rdquo ) of the Company.
BY THE LIQUIDATORS EZION HOLDINGS LIMITED (In Compulsory Liquidation) 18 February 202
1. INTRODUCTION The Board of Directors (the &ldquo Board&rdquo ) of Ezion Holdings Limited (In Compulory Liquidation) (the &ldquo Company&rdquo , together with its subsidiaries, the &ldquo Group&rdquo ) refers to the previous announcements made on 28 January 2022 and 9 February 2022 (the &ldquo Previous Announcements&rdquo ). Capitalised terms used but not defined herein shall have the meanings as ascribed to them in the Previous Announcements.
2. OUTCOME OF THE WINDING UP APPLICATION OF THE COMPANY Pursuant to the Previous Announcements, the Company would like to update its shareholders that on 18 February 2022, the Court granted the Winding Up Application in HC/CWU 21/2022 for the Company to be placed into liquidation and for Messrs Ng Kian Kiat and Goh Wee Teck of RSM Corporate Advisory Pte Ltd to be appointed as joint and several liquidators (&ldquo Liquidators&rdquo ) of the Company.
BY THE LIQUIDATORS EZION HOLDINGS LIMITED (In Compulsory Liquidation) 18 February 202
You are not the only one. I suffered losses too.
TraderBen ( Date: 10-Feb-2022 17:38) Posted:
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