OTTO MARINE LIMITED

(Company Registration Number 197902647M)

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

SUBSCRIPTION OF 49% SHARES IN A COMPANY


Otto Marine Limited (the "Company") wishes to announce that its 90% held subsidiary, Go
Offshore (Asia) Pte Ltd ("Go Asia"), has entered into a joint venture agreement to own
49% of the shares of a company, the details of which are stated below:-
Name of Company : GoSeaEnergy Ship Management Limited
Paid up Share Capital : GBP100
No. of shares held by Go Asia : 49 shares of GBP1.00 each (49%) Principal Activity : Ship management services
Place of incorporation : United Kingdom
The investment in the above company is funded through internal resources and 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 2014.

Submitted by

Michael See Kian Heng
Group Executive Director
11 June 2014

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