OTTO MARINE LTD 
By (UEN : 197902647M)
(Incorporated with limited liability in the Republic of Singapore on 5 September 1979)
CAPITALISATION OF LOAN BY SUBSIDIARY
The Board of Directors of Otto Marine Limited (the "Company") wishes to announce that its wholly owned subsidiary, Otto Ventures Pte Ltd ("Otto Ventures"), has been issued fully paid ordinary shares in Go Marine Group Pty Ltd ("Go Marine") pursuant to the capitalisation of a loan of A$9,034,628.54 (the "Loan") owed by Go Marine to Otto Ventures.
Pursuant to the anti-dilution mechanism previously agreed by the shareholders of Go Marine, the other shareholders of Go Marine, M Squared Nominees Pty Ltd and Cautious Pty Ltd, have also been issued fully paid ordinary shares in Go Marine following Otto Ventures' capitalisation of the Loan. Accordingly, as at the date of this announcement, Otto Ventures' shareholding in Go Marine is maintained at 90%.
The directors of 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, and they jointly and severally accept responsibility accordingly.
By Order of the Board
See Kian Heng
Group Chief Financial Officer and Executive Vice President
31 December 2012
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