Oceanus

Oceanus: Typhoon Usagi hit Guangdong, coastal Zhejiang and Fujian provinces in China where the majority of China’s abalone production is sited. The Board was informed by the China production team that industry-wide damages were caused to abalone farmers and manufacturers in these affected areas. Some of the facilities in the group’s abalone farms that are located in Guangdong and Fujian provinces were damaged. The information available to the Board at this juncture is very preliminary. The typhoon has cut off access to some of the farms due to road damage, blockages and adverse weather, and electricity and phone availability has been disrupted. The mgt team will be visiting all the farms to asses the damages caused and update shareholders accordingly