OTTO MARINE LTD (Company Registration Number 197902647M)
(Incorporated with limited liability in the Republic of Singapore on 5 September 1979)
THE GRANT OF SHARE AWARDS PURSUANT TO THE OTTO MARINE SHARE AWARD SCHEMEPursuant 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 Otto Marine Share Award Scheme:
(a) | Date of Awards | : | 26 June 2015 | |
(b) | Exercise price of Awards awarded | : | Not Applicable | |
(c) | Number of shares awarded | : | 2,207,000 Ordinary Shares | |
(d) | Market price of its shares on the date of Awards | : | S$0.03610 | |
(e) | Number of shares awarded to each director and controlling shareholder (and each of their associates), if any | : | Name (i) Heng Hock Cheng @ Heng Heyok Chiang (ii) Ng Quek Peng (iii) Chin Yoong Kheong (iv) Craig Foster Pickett | No. of shares 638,200 638,200 531,800 398,800 |
(f) | Validity period of the Awards | : | Not Applicable |
*The grant of the above Awards is made pursuant to Resolution 5 passed at the Third-Fifth Annual General Meeting of the Company held on 23 April 2015 where 30% of the payment of Directors' fees to the Non-Executive Directors for the financial year ended 31 December 2014 will be paid by issuance of equivalent shares in the capital of the Company to the Non-Executive Directors with the number of shares rounded down to the nearest hundred under Otto Marine Share Award Scheme.
By Order of the Board
Michael See Kian Heng
Group Chief Executive Officer and
Group Executive Director
26 June 2015
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