OTTO MARINE LIMITED

(Company Registration Number 197902647M)

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

INVESTMENT IN SUBSIDIARY - REDEMPTION OF REDEEMABLE PREFERENCE SHARES IN SUBSIDIARY


Otto Marine Limited (the "Company" together with its subsidiaries, the "Group") refers to the announcement dated 18 September 2013 in relation to the above-mentioned subject matter (the "Announcement"). All capitalized terms undefined in this announcement shall assume the same meanings as ascribed to them in the Announcement.
The Company is pleased to announce that its wholly owned subsidiary, GO Marine Investments Pte Ltd ("GMIPL") has fully redeemed the redeemable preference shares previously issued to a Singapore based private equity firm ("Investor"), at S$12 million on
2 June 2015. The redemption was fully paid in cash.
In connection with the above, the corporate guarantee given by GO Marine Group Pty Ltd in respect of the transaction under the Agreement was fully discharged.
The above transaction is not expected to have any material financial impact on the consolidated net tangible assets per share or consolidated earnings per share of the Company and the Group for the current financial year ending 31 December 2015.
Save for their shareholdings in the Company, none of the Directors or controlling shareholders of the Company has any direct or indirect interest on the above transaction.

Submitted by

Michael See Kian Heng
Group Chief Executive Officer / Group Executive Director
4 June 2015

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