OTTO MARINE LIMITED

(UEN : 197902647M)

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

GRANT OF SHARE AWARDS PURSUANT TO THE OTTO MARINE SHARE AWARD SCHEME ("SHARE AWARD SCHEME")


Pursuant to Rule 704(29) of the Listing Manual of the Singapore Exchange Securities Trading Limited, the Board of Directors of Otto Marine Limited ("the Company") wishes to announce the following details pertaining to the grant of share awards (the "Awards") pursuant to the Share Award Scheme:
(a) Date of Awards : 28 May 2014
(b) Exercise price of Awards granted
: NA
(c) Number of shares awarded : 1,383,500
(d) Market price of its shares on the date of Awards
: S$0.0745
(e) Number of shares awarded to

: Name No. of shares*

each director and controlling shareholder (and each of their
Heng Hock Cheng @ Heng Heyok Chiang
386,500
associates), if any
Ng Quek Peng 386,500
Craig Foster Pickett 241,600
(f) Validity period of the Awards : NA

* The grant of these Awards is made pursuant to a resolution passed at the Annual General Meeting of the Company held on 30 April 2014 wherein 30% of the Directors' fees to the Non- Executive Directors for the financial year ended 31 December 2013 will be paid by issuance of equivalent in shares under the Share Award Scheme.

By Order of the Board

Michael See Kian Heng
Group Executive Director
28 May 2014

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