Microsoft Word - Otto Announcement - Commencement of suit against Guarantors v2 (dtd 16 J....docx OTTO MARINE LIMITED

(Company Registration Number 197902647M)

(Incorporated with limited liability in the Republic of Singapore on 5 September 1979)

COMPANY UPDATE


All capitalised terms used in this announcement shall assume the same meanings as ascribed to them in the Company's announcement dated 7 May 2015 (the "Announcement").
Further to the Announcement and the subsequent announcements dated 18 May 2015 and 29
June 2015, the Company wishes to announce that it has commenced, on 15 July 2015, a Singapore High Court Writ of Summons against the Guarantors to repay the Loan of US$650,000.
The Company will make such further announcements as and when material developments in the present matter arise.
The Company has taken all reasonable care to ensure that the facts stated in this announcement are fair and accurate in all material aspects as at the date hereof and that no material facts have been omitted from this announcement.
Submitted by
Chong Sieh Jiuan
Chief Financial Officer and Joint Company Secretary
16 July 2015

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