Microsoft Word - Otto Marine Limited Announcement - Investment in Subsidiaries - 23 Oct 2014 (3).DOC OTTO MARINE LIMITED

(Company Registration Number 197902647M)

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

INVESTMENT IN SUBSIDIARIES


Otto Marine Limited (the "Company") refers to the announcements made on 25 March
2013 and 3 April 2013 (the "Announcements") in relation to (a) the investment agreement dated 22 March 2013 entered into between Asean China Investment Fund II L.P. and UVM
2 Venture Investments LP, 2 private equity funds managed by UOB Venture Management Pte Ltd, Venstar Investments II Ltd., Venstar Investments III Ltd., and an individual investor (collectively, the "Investors") and its subsidiary, Go Marine Ship Management (M) Sdn. Bhd. ("Go Marine Malaysia"), and (b) the option agreement dated 22 March 2013 entered into between the Investors and Go Marine Group Pty Ltd.
Further to the Announcements, Otto Ventures Pte Ltd, Go Marine Group Pty Ltd, Go Marine Malaysia, Surf Subsea Pte Ltd ("Surf Subsea") and the Investors have executed an Option Deed on 23 October 2014 in respect of the grant of call options by Surf Subsea to each of the Investors to subscribe for new ordinary shares in Surf Subsea.
Save for their shareholdings in the Company, none of the directors or controlling shareholders of the Company has any interest, whether direct or indirect, in the transactions described in this announcement.

Submitted by

Michael See Kian Heng
Group Executive Director
24 October 2014

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