OTTO MARINE LIMITED

(Company Registration Number 197902647M)

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

WINDING UP APPLICATION


Otto Marine Limited (the "Company") wishes to announce that a creditor of the Company (the "Creditor") has filed a winding up application with the Singapore High Court (the "Court") to wind up the Company (the "Application"). The Court has made directions for the Application to be heard on 15 May 2015. The total sum claimed against the Company pursuant to the Application is approximately USD 200,000 and EUR 900,000 (the "Debt").
The Company is not disputing the Debt. The Company is currently in negotiations with the
Creditor's solicitors to reach a settlement in respect of the Debt.
The Company has 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 31 December 2015.

Submitted by

Chong Sieh Jiuan
Chief Financial Officer and Joint Company Secretary
25 April 2015

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