The Board of Directors of Otto Marine Limited refers to the announcement made by the Company on 25 March 2013 in relation to the investment agreement dated 22 March 2013 entered into between Asean China Investment Fund II L.P. and UVM 2 Venture Investments LP, 2 private equity funds managed by UOB Venture Management Private Limited, Venstar Investments II Ltd., Venstar Investments III Ltd., and an individual investor (collectively, the “Investors”) and its subsidiary, Go Marine Ship Management (M) Sdn. Bhd. (“Go Malaysia”), said in the company's press release.
Further to the Announcement, the Board is pleased to announce that Go Malaysia has on 2 April 2013, completed the transaction referred to in the Announcement. In consideration for the issuance and allotment of the preference shares to the Investors, the Investors have wired an aggregate amount of US$22.5 million to Go Malaysia's designated bank account.
All news