Otto Marine

Otto Marine: 90%-owned subsidiary, Go Marine Group Pty Ltd, entered into an agreement to sell seven vessels to RSOV Marine Pte Ltd for an aggregate consideration of US$10m. RSOV Marine is 29% owned by Executive Chairman and controlling shareholder of Otto Marine, Yaw Chee Siew. Counter's share price recently made a mammoth 63% leap within a period just short of a month, since 6 Dec, on significantly enhanced volumes.