UPDATE ON THE PROPOSED OFFERING

The Company refers to the announcements made on (i) 3 September 2014 in relation to the Proposed Offering and (ii) 15 September 2014 in relation to the board of directors’ (the “Board”) intention to recommend a dividend for the financial year ending 2015 ("FY2015").

The Company wishes to update Shareholders that the Company has extended the timeline for the Proposed Offering in order to provide potential investors sufficient time to consider the Board’s intention to recommend a dividend for FY2015 of at least 30.0% of the Company’s net profit after tax from the date of the Company's secondary listing on the SGX-ST to 31 August 2015 (excluding any exceptional and extraordinary income), after considering the Company's level of cash and reserves, results of operations, business prospects, capital requirements and surplus, general financial condition, contractual restrictions, the absence of any circumstances which might reduce the amount of reserves available to pay dividends, and other factors considered relevant by the Board, including the Company's expected financial performance. It is expected that the final prospectus will be registered in Singapore on or about 26 September 2014.

Shareholders and investors should note that the Proposed Offering remains subject to the registration of a final prospectus by the Monetary Authority of Singapore as well as the market conditions prevailing before the Proposed Offering.  As the terms of and the timeline for the Proposed Offering have not yet been finalised, shareholders and potential investors are accordingly advised to exercise caution when dealing in the securities of the Company.

For further information, please contact

Mr Jason Goh

+65 6590 8209

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.