(UEN : 197902647M)
(Incorporated with limited liability in the Republic of Singapore on 5 September 1979)
DISCLOSURE PURSUANT TO RULE 728 OF THE SINGAPORE EXCHANGE SECURITIES TRADING LIMITED ("SGX") LISTING MANUAL
The Board of Directors (the "Board") of Otto Marine Limited
(the "Company") refers to the announcement titled "Disclosure
pursuant to Rule 704(31) and 728 of the Singapore Exchange
Securities Trading Limited Listing Manual" made by the
Company on 28 October 2011 (the "Previous Announcement").
Further to the Previous Announcement, the Company has
received a notification from Business Companion Investments
Limited ("BCI"), a company wholly owned by our Chairman and
Group CEO, Mr. Yaw Chee Siew, that it has entered into two
share charge arrangements in respect of its shares in the
Company, as follows:
Name of controlling shareholder | Business Companion Investments Limited | |
Class and number of shares charged | Any shares deposited with RHB Bank Berhad, Singapore Branch or its nominee, currently amounting to 236,125,000 ordinary shares | Any shares deposited with DMG & Partners Securities Pte Ltd or its nominee, currently amounting to 236,125,000 ordinary shares |
Percentage of the Company's issued share capital | Currently approximately 12.49% | Currently approximately 12.49% |
The party in whose favour the charge is created | RHB Bank Berhad, Singapore Branch | DMG & Partners Securities Pte Ltd |
Loan amount the charge is securing | S$13,000,000 | S$13,000,000 |
Accordingly, as of the date of this announcement, BCI has
charged in favour of third parties all of its shares in the
Company, representing approximately 61.37% of the total
issued shares of the Company.
By Order of the Board
See Kian Heng
Chief Financial Officer
20 April 2012
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