OTTO MARINE LTD 
By
(Company Registration Number: 197902647M)
(Incorporated with limited liability in the Republic of Singapore on 5 September 1979)
Unless otherwise defined, all capitalised terms used herein shall bear the same meaning as in the offer information statement dated 10 April 2012 ("Offer Information Statement" or "OIS") issued by Otto Marine Limited ("Company") in relation to the Company's fully underwritten renounceable rights issue ("Rights Issue").
The Company wishes to announce that to-date, out of the net proceeds of S$74.6 million from the Rights Issue (the "Rights Issue Proceeds"), the Company has utilised S$74.6 million in the following manner:
- S$42.0 million for funding a vessel for chartering purposes
- S$32.6 million for general working capital requirements
The details are tabulated below.
Intended Use as per the OIS | Amount Allocated (S$'000) (A) | Amount Utilised Per Current Announcement (S$'000) (B) | Cumulative Amount Utilised to date (S$'000) (C) | Balance Amount (S$'000) (A)-(C) |
Funding a vessel for chartering purposes | 42,000 | 1,000 | 42,000 | - |
General working capital requirements | 32,600 | - | 32,600 | - |
Net Rights Issue Proceeds | 74,600 | 1,000 | 74,600 | - |
By Order of the Board
See Kian Heng
Group Chief Financial Officer
26 November 2012
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