Singapore: Sale of ‘Otto Explorer 3’ Completed

Sale of 'Otto Explorer 3' Completed2

The Board of Directors of Otto Marine Limited announced that, further to the announcement dated 2 April 2013, the sale of the Multi-purpose Field Support and ROV Support Vessel, “Otto Explorer 3” is completed.

The vessel is sold to RY Offshore Limited by the Company’s shipyard, through one of  wholly-owned subsidiaries, for an aggregate consideration of approximately US$50 million.

The above transaction is expected to have a positive impact on the consolidated net tangible assets per share or earnings per share of the Company for the financial year ending 31 December 2013.

Otto Marine, May 27, 2013

 

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Topics to be discussed include terrorism, cyber terrorism, emergency intervention procedures, optimising technology use in security checks and case studies featuring some of the largest ports across the world. Our diverse range of topics will allow delegates to learn best practices for port security and understand further how other ports are resolving core challenges.

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