Notice of 3 Consecutive Years' Losses::Notice of 3 Consecutive Years' Losses

Issuer & Securities

Issuer/ Manager
OCEANUS GROUP LIMITED
Securities
OCEANUS GROUP LIMITED - SG1M80907371 - 579
Stapled Security
No

Announcement Details

Announcement Title
Notice of 3 Consecutive Years' Losses
Date &Time of Broadcast
03-Mar-2015 17:56:58
Status
New
Announcement Sub Title
Notice of 3 Consecutive Years' Losses
Announcement Reference
SG150303OTHRHW5N
Submitted By (Co./ Ind. Name)
Dr Ng Cher Yew
Designation
Executive Chairman
Description (Please provide a detailed description of the event in the box below)
The Board of Directors (the "Board") of Oceanus Group Limited (the "Company") wishes to clarify that notwithstanding that the Company has recorded pre-tax losses for the three (3) most recently consecutive financial years, the Company is currently NOT placed on the watch-list as its average daily market capitalisation, being approximately S$45.57 million, is still above S$40 million over the last 120 market days on which the trading was not suspended or halted.

Please refer to the additional details below.

Additional Details

OCEANUS GROUP LIMITED hereby gives notice that:
(i) it has recorded pre-tax losses for the three (3) most recently completed consecutive financial years (based on the latest announced full year consolidated accounts, excluding exceptional or non-recurrent income and extraordinary items); and
(ii) its market capitalisation as at (a) the last market day on which trading was not suspended or halted, is (b) (Trading is deemed to be suspended or halted if trading is ceased for a full market day.)
a) Last market day on which trading was not suspended or halted
03/03/2015
b) Market Capitalisation as of the last market day on which trading was not suspended or halted
S$36.38 million
The Company wishes to draw investors' attention to Rule 1311 of the Listing Manual which states that the Exchange will place an issuer on a watch-list if it records:
(i) pre-tax losses for the three (3) most recently completed consecutive financial years (based on the latest announced full year consolidated accounts, excluding exceptional or non-recurrent income and extraordinary items); and (ii) an average daily market capitalisation of less than $40 million over the last 120 market days on which trading was not suspended or halted. For the purpose of this rule, trading is deemed to be suspended or halted if trading is ceased for the full market day.
Investors should also note that pursuant to Practice Note 13.2 Paragraph 2.1, the Exchange conducts quarterly reviews to identify issuers to be included on the watch-list. The quarterly review will take place on the first market day of March, June, September and December of each year. The Company will make an immediate announcement should it be notified by the Exchange that it will be placed on the watch-list.