OTTO MARINE LIMITED

(Company Registration Number 197902647M)

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

UPDATE


Otto Marine Limited (the "Company", together with its subsidiaries, the "Group") wishes to
announce that:
A) on 11 December 2014, one of its employees, Mok Kim Whang ("Mok") was charged in the State Courts of Singapore under the provisions of the Prevention of Corruption Act ("PCA") in relation to certain transactions ("Transactions") that he was involved with while working for his former employer; and
B) the Group has not been contacted by the Corrupt Practices Investigation Bureau
("CPIB") to assist on any such investigations.
Mok is a senior officer in the Group and runs the shipyard and fabrication operations of the Group. Pending the outcome of the court proceedings, Mok remains employed by the Company. The Company will consult its lawyers and consider its next steps with regards to the employment status of Mok after the verdict at the end of the trial.
As the Group is not involved with those Transactions, the charge against Mok will not have any impact on the consolidated net tangible assets or consolidated earnings per share of the Group for the financial year ending 31 December 2014.

Submitted by

Garrick James Stanley
Executive Director and Group CEO
12 December 2014

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