Microsoft Word - Otto Marine Limited Announcement - Go Offshore (Asia) PL (DMS draft- 24 ....doc OTTO MARINE LIMITED

(Company Registration Number 197902647M)

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

GO OFFSHORE (ASIA) PTE. LTD.


Otto Marine Limited (the "Company") wishes to announce that it has been informed by Go Marine Group Pty Ltd ("Go Marine") that a creditor (the "Creditor") of Go Offshore Pty Ltd ("Go Offshore"), a wholly-owned subsidiary of Go Marine, has filed a winding up application (the "Application") with the Singapore High Court (the "Court") to wind up Go Offshore (Asia) Pte. Ltd. ("Go Offshore Asia"), another wholly-owned subsidiary of Go Marine. The Court has made directions for the Application to be heard on 8 May 2015.
The total sum claimed against Go Offshore Asia pursuant to the Application is approximately USD 118,000 (the "Debt"). As at the date of this announcement, Go Offshore has fully paid up the Debt to the Creditor, and the Creditor is in the process of withdrawing the Application.
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.
The event is not expected to have a material impact on the financials of the Company for the financial year ending 31 December 2015.

Submitted by

Chong Sieh Jiuan
Chief Financial Officer & Joint Company Secretary
25 April 2015

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