Ocean Sky

Wonder if SGX will investigate the 20.195 mil shares traded yesterday that resulted in the share price opening at 29cts and closing at 20cts. This trading was done before the release of the news. Looks highly suspicious with unusually high volume and significant decrease in the share price. Share price has plunged further today to 13.4cts. 

I feel sorry for the retail investors. I recall that the NTA of this company is around 10cts and consist mainly of cash. 




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Date & Time of Broadcast 12-Feb-2014 20:52:00

OCEAN SKY INTERNATIONAL LIMITED
(Incorporated in the Republic of Singapore)
(Company Registration No.198803225E)

ANNOUNCEMENT IN RELATION TO THE:

(I) PROPOSED ACQUISITION OF EZION OFFSHORE LOGISTICS HUB (TIWI) PTY LTD;
(II) PROPOSED SUBSCRIPTION OF SHARES;
(III) PROPOSED GRANT OF OPTIONS; AND
(IV) PROPOSED PLACEMENT OF SHARES.

1. INTRODUCTION

The Board of Directors (the “Board”) of Ocean Sky International Limited (the “Company” and
together with its subsidiaries, the “Group”) refers to its previous announcements dated 30
September 2013, 2 October 2013, 4 October 2013 and 14 November 2013 (the “Previous
Announcements”) in relation to the above-captioned transactions. Unless otherwise defined,
all capitalised terms used in this announcement shall bear the same meanings and
construction as ascribed to them in the Previous Announcements.

2. TERMINATION OF THE TRANSACTIONS
The Board wishes to announce that the SGX-ST has informed the Company that the
Transactions amount to a reverse takeover, pursuant to Rule 1015 of the Listing Manual.
As this will result in protracted timings, the parties do not wish to extend the Transactions and
have decided not to proceed. Accordingly, the agreements relating to the Transactions have
or will be terminated.

Shareholders are advised to exercise caution when dealing or trading in the Shares,
and should consult their stockbrokers, bank managers, solicitors or other professional
advisers if they have any doubt about the actions they should take.

BY ORDER OF THE BOARD
Chia Yau Leong
Company Secretary
12 February 2014

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Name of Announcer * OCEAN SKY INTERNATIONAL LTD
Company Registration No. 198803225E
Announcement submitted on behalf of OCEAN SKY INTERNATIONAL LTD
Announcement is submitted with respect to * OCEAN SKY INTERNATIONAL LTD
Announcement is submitted by * CHIA YAU LEONG

Designation * COMPANY SECRETARY
Date & Time of Broadcast 12-Feb-2014 13:57:59
Announcement No. 00021

>> ANNOUNCEMENT DETAILS
The details of the announcement start here ...
Date of Trading Halt * 12/02/2014
Time of Trading Halt * 1400 hours
Reasons for Trading Halt *
Pending the release of announcement.

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Date & Time of Broadcast 12-Feb-2014 14:07:08
Ocean Sky International Limited

Dear Sir

QUERY REGARDING TRADING ACTIVITY

We have noted, and draw to your attention, a substantial decrease in the price and increase in volume of your shares today. To ensure a fair, orderly and transparent market, please answer each of the following:

Question 1: Are you aware of any information not previously announced concerning you (the issuer), your subsidiaries or associated companies which, if known, might explain the trading?
- If yes, the information must be announced immediately.

Question 2: Are you aware of any other possible explanation for the trading?

Question 3: Can you confirm your compliance with the listing rules and, in particular, listing rule 703?

Please respond immediately via SGXNET. Where appropriate, you may want to request a trading halt or a suspension of trading. Please contact Securities Market Control (or, if you need to discuss the matter, your Account Manager in Issuer Regulation) immediately. Thank you for your cooperation.

We have released this letter via SGXNET.

Yours faithfully

Kelvin Koh
Vice President
Head, Surveillance