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 wholly owned subsidiary, Otto Ventures Pte. Ltd. ("Otto Ventures") has entered into a joint venture agreement to subscribe 49% of the shares of a company, the details of which are stated below:-
Name of Company : RH Otto Pte. Ltd. Paid up Share Capital : USD100
No. of shares held by Otto Ventures : 49 shares of USD1.00 each (49%) Principal Activity : Investment holding and trading
Place of incorporation : Singapore
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

Garrick James Stanley
Executive Director and Group CEO
3 December 2014

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