OTTO MARINE LTD 
By
(Unique Entity Number: 197902647M)
(Incorporated with limited liability in the Republic of
Singapore on 5 September 1979) (the "Company")
The Company refers to its announcement of 4 May 2012 on the
above matter and the following notices received by the
Company on 4 May 2012 ("Earlier Notices"):
(a) the notice of director's (including director's
who is a substantial shareholder) interest and change of
interest in respect of shares held by the Company's
Chairman and Group Executive Officer, Mr Yaw Chee Siew, who
is also a substantial shareholder of the Company; and
(b) the notice of change in the percentage level of a
substantial shareholder's interest in respect of Business
Companion Investments Limited ("BCI"), an
investment holding company wholly owned by Mr Yaw Chee
Siew.
In the Earlier Notices, it was stated that after the close of
the renounceable underwritten rights issue ("Rights
Issue") of up to 945,214,500 new ordinary shares in the
capital of the Company ("Rights Shares") on 26
April 2012, each of Mr Yaw Chee Siew and BCI had the
following total interests in shares in the capital of the
Company:
Number of Shares | Percentage of the issued share capital of the Company (based on the Company's issued share capital of 2,835,643,500 shares following the Rights Issue) | |
Mr Yaw Chee Siew | 1,804,762,500 | Approximately 63.64% |
BCI | 1,740,375,000 | Approximately 61.37% |
Mr Yaw Chee Siew and BCI have sent letters to the Company ("Clarification Letters") clarifying that upon the close of the Rights Issue, each of them had the following total interests in shares in the capital of the Company:
Number of Shares | Percentage of the issued share capital of the Company (based on the Company's issued share capital of 2,835,643,500 shares following the Rights Issue) | |
Mr Yaw Chee Siew |
The discrepancy between the Earlier Notices and the
Clarification Letters as to the total number of shares in the
Company that Mr. Yaw Chee Siew and BCI are interested in
(being 1,000 shares), was due to the rounding of odd lots in
respect of the Rights Shares issued and allotted to DMG &
Partners Securities Pte Ltd ("DMG") and RHB Bank
Nominees Pte. Ltd. ("RHB"), who are bare trustees
for BCI.
The Company confirms that, as stated in the Offer Information
Statement issued by the Company in connection with the Rights
Issue, preference was given to the rounding of odd lots, in
the process of allotment of excess Rights Shares.
The Company further confirms that the substantial
shareholders and the directors of the Company, including Mr
Yaw Chee Siew, BCI and their bare trustees, ranked last in
priority in the rounding of odd lots and the allotment of
excess Rights Shares.
Save for the rounding of odd lots in respect of the Rights
Shares held by DMG and RHB, no excess
Rights Shares were issued and allotted to Mr Yaw Chee Siew,
BCI or their bare trustees.
By Order of the Board
Wee Eng Hua Marjorie
Company Secretary
3 September 2012
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