OTTO MARINE LTD 
By The Board of Directors of Otto Marine Limited (the "Company") refers to the queries made by the Singapore Exchange Securities Trading Limited ("SGX-ST") on 5 July 2012 regarding the substantial increase in the volume of trading of shares in the Company on the said date.
Question 1: Are you aware of any information not previously announced concerning you (the issuer), your subsidiaries or associated companies which, if known, might explain the trading?
- If yes, the information must be announced immediately.
Answer 1: As part of the Company's ongoing efforts to maximize value for its shareholders, the Company and its subsidiaries ("Group") continually analyse, among other things, business proposals and options to strengthen the financial position of the Group.
In this context, one of the Company's subsidiaries, Go Marine
Group Pty Ltd ("Subsidiary") is currently considering a
number of options for raising funds to finance its future
growth, such as bank financing, issuance of debt securities,
or issuance of equity securities pursuant to a potential
private placement or an initial public offering.
As at the date of this announcement, the Subsidiary has not
made a firm commitment to any of such options and there is no
assurance that any of the above options will materialise.
However, the Company is not able to determine with certainty
that the substantial increase in trading activity was due to
the above. Accordingly, the Company is not aware of any
particular reason for the trading activity of 5 July
2012.
If and when there are any material developments which warrant
disclosure, the Company will make any further announcements
on the SGX-ST, in accordance with the listing rules in the
Listing Manual of the SGX-ST ("Listing Manual"). Shareholders
and potential investors are therefore advised to exercise
caution when dealing in the Company's securities.
Question 2: Are you aware of any other possible explanation for the trading?
Answer 2: Save as disclosed in Answer 1 above, the Company is not aware of any other possible explanation for the trading activity of 5 July 2012.Question 3: Can you confirm your compliance with the listing rules and, in particular, listing rule 703?
Answer 3: The Company confirms that it is in compliance with the listing rules in the Listing Manual and in particular, listing rule 703 of the Listing Manual regarding disclosure of material information. By Order of the Board Marjorie Wee Company Secretary / Group General Counsel
6 July 2012
1
|
distributed by
|
