The Board of Directors of Otto Marine Limited announces that pursuant to an investment agreement dated 16 September 2013 entered into between Go Marine Investments Private Limited , Go Marine Group Pty Ltd and a Singapore based private equity firm , the investor has subscribed for S$10 million redeemable preference shares in GMIPL, the Company said in a press release.
The issuance and allotment of the redeemable preference sh ares in GMIPL has been completed on 18 September 2013. In connection with the investment in GMIPL by the Investor, Go Marine has provided a corporate guarantee in favour of the Investor in respect of all of GMIPL’s obligations under the Agreement. GMIPL is a wholly owned subsidiary of Go Marine. The directors of the