Microsoft Word - 3058130_1.doc OTTO MARINE LIMITED

(Company Registration Number 197902647M)

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

GO MARINE GROUP PTY 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 of Go Offshore (Asia) Pte. Ltd. ("GOA"), a wholly-owned subsidiary of Go Marine, has filed a winding up application with the Singapore High Court (the "Court") to wind up GOA (the "Application"). The Court has made directions for the Application to be heard on 7 November 2014. The total sum claimed against GOA pursuant to the Application is approximately USD394,000. GOA is not contesting the Application and is reviewing the creditor's outstanding with the creditor to reach a settlement on the sums owing.
The Company have 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.

Submitted by

Michael See Kian Heng
Group Executive Director
27 October 2014

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