The Oslo Stock Exchange has passed a resolution to delist Emas Offshore, a unit of Ezra Holdings and a dual-listed company in Singapore and Norway, with effect from April 27.
This was due chiefly to the company’s inability to disclose financial information within the prescribed deadlines under the Oslo Stock Exchange listing rules, Emas told the Singapore Exchange late on Monday.
The offshore marine construction contractor added that it plans to make an appeal against the decision by March 5. If successful, the company will remain listed on the Oslo Stock Exchange. Emas said that the Oslo Stock Exchange’s move comes at a time when the group’s restructuring exercise has made significant progress.