O TTO M ARINE L IMITED - Microsoft Internet Explorer - SGX

OTTO MARINE LIMITED AND ITS SUBSIDIARIES
conditions and for such purposes and to such persons as the Directors shall in their absolute
discretion deem fit, provided that the aggregate number of shares to be issued pursuant to such
authority shall not exceed 50.0% of the post offering issued share capital and that the
aggregate number of shares to be issued other than on a pro-rata basis to the then existing
shareholders shall not exceed 20.0% of the post offering issued share capital, and, unless
revoked or varied by the Company in general meeting, such authority shall take effect from
the date of listing of the Company’s shares on the Singapore Exchange Securities Trading
Limited and shall continue to be in force until the next Annual General Meeting or the date by
which the next Annual General Meeting is required by law or by the Company’s Articles of
Association to be held, whichever is earlier. For this purpose, the percentage of the issued
share capital is based on the Company’s post offering issued share capital, after adjusting for
new shares arising from the conversion or exercise of any outstanding or subsisting options at
the time of the passing of the resolution approving the mandate, provided the issue of shares
or such convertible securities are made in compliance with the Listing Manual and subsequent
consolidation or subdivision of shares.
(d) Bangkok Bank Public Company Limited, Maju Holdings Sdn Bhd and Standard Chartered Private
Equity Limited (collectively, the “Cornerstone Investors”) has entered into a cornerstone share
subscription agreement with the Company (collectively, the “Cornerstone Share Subscription
Agreements”) on July 21, August 19 and July 28, 2008 respectively, to purchase certain amount of
shares, at the offering price, conditional upon the purchase agreement and offer agreement having
been entered into and not having been terminated pursuant to their terms on or prior to the listing
date.
17. Comparatives Figures
The comparative figures for the 5 months ended May 31, 2007 have not been audited nor reviewed.
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