EOC Limited: Update on the Singapore Bookbuilding Process

Regulatory News:

Reference is made to the announcement made by EOC Limited ("EOC" or the "Company") (OSE:EOC) on 29 August 2014 in relation to the lodgement of the prospectus with the Monetary Authority of Singapore ("MAS") and the Proposed Offering. It has come to the attention of the Company that market reports concerning the indicative terms of the Proposed Offering have reached the public domain, stating an indicative price range of SGD 1.02 to SGD 1.21 per share, indicating gross proceeds in the range of USD 156 to 184 million for the base offering in addition to an indicated 20% greenshoe. Furthermore, it is indicated that the listing date in Singapore will be 26 September 2014. The Company wishes to emphasise that no firm decision has been made in relation to the pricing, the timing nor in relation to the other terms of the offering, which will be determined at the end of the bookbuilding process in accordance with standard market practice. The Company has commenced marketing of the Proposed Offering, however no firm decisions will be made until the results of the bookbuilding process are clear. The Company further wishes to emphasise that although no firm decision has been made in relation to price range for the Proposed Offering, the conditional dividend referred to in the Company's announcement on 7 August 2014 (the "Dividend”) will not be offered to investors in the Proposed Offering, and accordingly, the price to be determined on the shares at the end of the bookbuilding process will be on an ex-Dividend basis. The Company reiterates that the information in the market reports is purely indicative and as such, the price range may not reflect the actual price, which will be determined at the end of the bookbuilding process.

As per the current indicative timeline, which is subject to change, approval by the MAS and prevailing market conditions, bookbuilding will expire at 15 September 2014 at which time the final prospectus will be registered in Singapore. Assuming close of the Proposed Offering on the 23 September 2014, the expected listing date will be 26 September 2014. At the time of listing of the new shares issued in the Proposed Offering the shares will be traded ex-Dividend.

Shareholders and investors should note that the Proposed Offering remains subject to the registration of a final prospectus by the MAS as well as the market conditions prevailing before the Proposed Offering.  As the terms of and the timeline for the Proposed Offering have not yet been finalised, shareholders and potential investors are accordingly advised to exercise caution when dealing in the securities of the Company.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

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