TSC Offshore Group Limited (“TSC Offshore” or the “Company”, together with its subsidiaries as the “Group”, stock code: 8149), a product and service provider dedicated to the world oil and gas drilling industry, has obtained the approval-in-principle from the Stock Exchange of Hong Kong Limited (“Stock Exchange”) for the Company’s shares to be listed and traded on the Main Board and delisted from the Growth Enterprise Market (“GEM”).

The last day of dealings in the TSC Offshore’s shares on GEM will be 4 June 2009. The Company’s shares will then be traded under the new stock code: 206 on the Main Board starting from 9:30 a.m. on 5 June 2009. Board lot size for trading remains to be 1,000 shares.

“We are pleased to obtain Stock Exchange’s approval of our transfer from GEM to Main Board. Following our transfer to the Main Board, we expect improved trading liquidity of our shares and wider recognition among the investment public. We believe the listing of our shares on the Main Board will enhance our corporate profile and financial flexibility, which will be beneficial to the Company’s future growth and business development,” said Mr Jiang Bing Hua, the Executive Chairman of TSC Offshore.

Since the initial public offer, TSC Offshore has seen continued growth in its operations, product lines as well as results. The Company’s profit attributable to equity shareholders for 2008 soared by 163 per cent to approximately US$10.3 million, and stood at US$3.9 million in 2007 and US$4.3 million in 2006.

Mr Jiang added: “In the near future, we will continue to implement the strategy of ‘building solid foundation for further growth in future, with a focus on high technology equipment and capabilities for deepwater equipment’. We are confident in maintaining our industry position with our capability of undertaking a wide range of projects, from small pipe handling upgrading jobs to large comprehensive rig turnkey upgrading projects. Our business nature will remain unchanged following the transfer.”

About TSC Offshore

TSC Offshore is a product and service provider in the world onshore and offshore oil and gas drilling industry. The Group is principally engaged in the provision of rig products and technology (drilling equipment, mechanical handling equipment, solid control systems, jacking systems, tensioning systems, conduct tensioning unit (“CTU”)), oilfield supply chain solution (such as rig expendables and accessories for both onshore and offshore rig operations) and turnkey solutions for both new build and upgrade rigs.

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Issued by: TSC Offshore Group Limited
Through : CorporateLink Limited