MMA Offshore Limited received correspondence from substantial shareholder Halom Investments Pte Ltd., giving notice that it intends to move the attached resolutions at the next general meeting of the company, under sections 249N and 203D of the Corporations Act 2001 (Cth), including to remove both the Independent Non-Executive Chairman, Mr. Anthony Howarth, and the Managing Director and CEO, Mr. Jeffrey Weber. In the Boards view the changes proposed by Halom are not in the best interests of all shareholders. Halom has proposed to nominate Mr. Jeffrey Mews and Mr. Ajaib Hari Dass for election to the Board at the same meeting. Halom has not proposed a replacement Chairman of the Board, or the Managing Director and CEO of the company, in the event all of its resolutions succeed. The Board has also held discussions with other major shareholders. During these discussions, Black Crane Capital Managing Partner and CIO, Mr. Peter Kennan, offered to join the Board as a Non- Executive Director, effective immediately, which the Board accepted.