Swissco bags Charter contracts worth $94.8 mn


Swissco bags Charter contracts worth $94.8 mn

SINGAPORE -- Swissco secures contracts worth an aggregate value of approximately $94.8 mn to provide four (4) mobile offshore drilling units to support an oil major in Latin America.

The Board of Directors (Board) of Swisco Holdings Limited (Company) states that four (4) wholy-owned subsidiaries of Scot and English Energy Pte Ltd (Scot and English Energy) have entered into charter contracts worth a total of aproximately $94.8 mn.

The contracts will last for up to a period of 2 years, providing four (4) mobile ofshore driling units to be used by an oil major to suport its oil and gas activites in Latin America. The charters are conditonal upon the delivery of such mobile offshore driling units to the subsidiaries of Scot and English Energy, which is a subsidiary of the Group.

Upon deployment, the above mentioned charters are expected to have a positve impact on the Group's earnings per share and net tangible asets per share for the financial year ending 31 December 2014.

None of the directors or substantial shareholders of the Company has any interest,direct or indirect, in the above transactions other than through their respective shareholding interests in the Company.

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