<article><div class="page" title="Page 1">
<div class="layoutArea">
<div class="column">
<p><span style="color: #000080;"><a style="color: #000080;" href="http://www.emsenergy.com.sg" target="_blank"><strong>EMS Energy</strong></a></span> is raising approximately S$2 million ($1.5 million) from placing new shares to seven investors, to raise working capital and to fund its order book.</p></article>

<div class="page" title="Page 1">
<div class="layoutArea">
<div class="column">
<p><span style="color: #000080;"><a style="color: #000080;" href="http://www.emsenergy.com.sg" target="_blank"><strong>EMS Energy</strong></a></span> is raising approximately S$2 million ($1.5 million) from placing new shares to seven investors, to raise working capital and to fund its order book.</p>
<p>This follows in the wake of EMS proposing a merger with <span style="color: #000080;"><a style="color: #000080;" href="http://www.investopedia.com/terms/t/turnkeybusiness.asp" target="_blank"><strong>turnkey asset</strong></a></span>, the engineering, procurement and construction management (EPCM) firm <span style="color: #000080;"><a style="color: #000080;" href="http://www.koastal.com.sg" target="_blank"><strong>Koastal</strong></a></span>. EMS has  entered into subscription agreements to place 88 million new EMS shares valued at 2.3 Singapore cents each. The proposed merger will see EMS become a turnkey EPCM service provider with additional manufacturing and fabrication capabilities for larger, higher-value projects<span style="color: #000080;">.</span></p>
<p><span style="color: #000080;"><a style="color: #000080;" href="http://sgp.bizdirlib.com/m/node/54340" target="_blank"><strong>Asian Trust Investment</strong></a></span>, the second-largest shareholder in EMS, will subscribe for 6.5 million new shares and hold 7.43 per cent of the enlarged issued and paid-up share capital. The individual investors participating are Peh Oon Kee, Kaedjohare Ismail Chechatwala, Pei Sim Kwee, Peck Chuan Yong, Lee Loi Sing and Toh Kee Sung.</p>
<p>Pai Keng Pheng, director and majority shareholder of Asian Trust Investment, said, “EMS is entering an exciting phase with the upcoming merger that will transform it into an integrated one-stop solutions provider for the marine and O&amp;G industries. We believe that the O&amp;G industry continues to show opportunities for growth, especially in the Middle East and have confidence in the management’<span style="color: #000080;">s foresight and direction.”</span></p>
<p>The share capital base of EMS will also grow from 1.48 billion to 1.57 billion shares. This represents approximately 5.94 per cent of the existing share capital and 5.61 per cent of the enlarged share capital of EMS.</p>
<p><span style="color: #000080;"><a style="color: #000080;" href="https://sg.linkedin.com/pub/teck-jin-ting/6/50/b08" target="_blank"><strong>Ting Teck Jin</strong></a></span>, executive chairman and CEO of EMS, said, “This placement underscores investors’ confidence in EMS’s ability to weather through this challenging period in our industry and coming out stronger than before. As we chart a new chapter of growth through the proposed acquisition that will accelerate our shift up the value chain, we appreciate the continued support and confidence by Asian Trust and other investors in EMS. Our board and management team are heartened by their confidence and support, and are committed to take EMS to greater heights.”</p>
<p>Ting added: “Despite the retracement in oil prices, we are seeing substantial spending in the oil and gas sector, particularly in the Middle East. The world’s largest oil exporter, Saudi Aramco, announced plans to spend approximately $80 billion in overseas acquisitions and investments over the next five years, focusing on Asia. This comes at a time as we enter a new growth phase and will accelerate our transformation.” he added.</p>
<p><em><strong>Related Story: <span style="color: #ff0000;"><a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/saudi-aramco-restructing-to-impact-keppel-sembcorp-6046/">Saudi Aramco restructing to impact Keppel &amp; SembCorp</a></span></strong></em></p>
</div>
</div>
</div>


EMS Energy is raising $1.5 million through issuing new shares

EMS Energy to raise $1.5m through share issuance

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief

EMS Energy to raise $1.5m through share issuance

Start your deal-making journey now!

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief