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Hull No. 7049
21 June 2011
The Board of Directors of Otto Marine Limited (the “Company”) wishes to announce that Mosvold
Supply III Ltd, Mosvold Shipping Holding Ltd and Norsk Tillitsmann ASA (collectively referred to as
the “Entities”) have applied for a court hearing for a court order to be granted such that the
Company’s wholly-owned subsidiary, Otto Offshore Limited shall not be allowed, without leave of the
court, to issue, institute or commence any legal proceedings to restrain the Entities from, inter alia,
exercising the option to cancel the shipbuilding contract for Builder’s Hull No. 7049 (“H7049”) and/or
from making any calls on the two refund guarantees in respect of H7049.
The Company will make further appropriate announcements as and when there are material
developments on this matter.
The above transactions are not expected to have a material impact on the Company’s net tangible
assets and earnings per share for the year ending 31 December 2011.
By Order of the Board
Lee Kok Wah
President & Group Chief Executive Director
21 June 2011
Otto Marine press release
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