Brief: KS Energy Says KS Drilling And Cosco Shipyard Mutually Terminated Contract

KS Energy

26/06/2019 12:17

June 26 (Reuters) - KS Energy Ltd  KSTL.SI :
    * KS DRILLING PTE AND COSCO SHIPYARD HAVE MUTUALLY AGREED TO
TERMINATE NEW BUILD CONTRACT FOR KS ORIENT STAR 2 WITH IMMEDIATE
EFFECT
    * TERMINATION AGREEMENT IS EXPECTED TO HAVE A MATERIAL
IMPACT ON
EARNINGS PER SHARE OF GROUP FOR FY ENDING 31 DECEMBER 2019
    * COSTS OF CONSTRUCTION, NET OF PROVISIONS, OF RIG WHICH
WERE
CAPITALISED WITH BOOK VALUE OF $26.8 MILLION AS AT 31 MARCH 2019
TO BE WRITTEN OFF

Source text for Eikon:  ID:nSN8GWvSF 
Further company coverage:  KSTL.SI 

 ((Reuters.Briefs@thomsonreuters.com;))