Under the MOA, a deposit will be placed with Teras Conquest 9 within five days upon the execution of the agreement. The consideration received will be used to pay off Ezion’s secured bank loans, and the mortgage over the vessel will be discharged.
Teras Conquest 9, a wholly-owned subsidiary of Ezion, and SLH (Tianjin) Ship Leasing Co, has entered into a memorandum of agreement (MOA) for the sale of a liftboat, the Teras Conquest 9, at a consideration of US$18.5 million ($24.7 million).
The MOA was executed by UOB as Teras Conquest 9’s attorney-in-fact.
