Singapore: Otto Ventures, a subsidiary of Otto Marine, has been issued fully paid ordinary shares in Go Marine Group pursuant to the capitalisation of a loan of A$9,034,628.54 owed by Go Marine to Otto Ventures.
Pursuant to the anti-dilution mechanism previously agreed by the shareholders of Go Marine, the other shareholders of Go Marine, M Squared Nominees Pty Ltd and Cautious Pty Ltd, have also been issued fully paid ordinary shares in Go Marine following Otto Ventures’ capitalisation of the loan.
Accordingly, as at the date of this announcement, Otto Ventures’ shareholding in Go Marine is maintained at 90%. [02/01/13]
