Oceanus Group Limited Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2016; Provides Group Earnings Guidance for the Full Year 2016
Aug 12 16
Oceanus Group Limited reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2016. For the quarter, the company reported sales of aquaculture products of RMB 269,000, loss before income tax of RMB 47,854,000, loss from continuing operations of RMB 47,854,000, net loss of RMB 48,616,000 or RMB 1.07 per diluted share against sales of aquaculture products of RMB 914,000, loss before income tax of RMB 9,200,000, loss from continuing operations of RMB 9,137,000, net loss of RMB 9,136,000 or RMB 1.12 per diluted share a year ago. This is mainly due to fluctuation in exchange difference, from a gain of RMB 23.2 million to loss of RMB 13.9 million, as well as, an absence of gain arising from changes in fair value of biological assets amounting to about RMB 7.3 million for the same quarter last year. Total comprehensive loss for the period attributable to equity holders of RMB 50,692,000 compared to RMB 21,175,000 a year ago. Cash flows from operating activities of RMB 1,517,000 compared to cash flows used in operating activities of RMB 5,868,000 a year ago. LBITDA was RMB 18,901,000 and adjusted LBITDA of RMB 4,939,000.
For the six months, the company reported sales of aquaculture products of RMB 5,585,000, loss before income tax of RMB 61,995,000, loss from continuing operations of RMB 61,995,000, net loss of RMB 62,754,000 or RMB 1.38 per diluted share against sales of aquaculture products of RMB 1,054,000, loss before income tax of RMB 70,195,000, loss from continuing operations of RMB 70,195,000, net loss of RMB 70,116,000 or RMB 2.08 per diluted share a year ago. Total comprehensive loss for the period attributable to equity holders of RMB 101,276,000 compared to RMB 69,951,000 a year ago. Cash flows from operating activities of RMB 3,288,000 compared to cash flows used in operating activities of RMB 11,299,000 a year ago.
Amidst macro-economic uncertainties, the group is cautiously optimistic on the outlook of twelve months of 2016.
Oceanus Group Limited Announces Receipt of Writ of Summons
Jul 5 16
Oceanus Group Limited announced that an action against the company has been commenced by Ocean King Group Limited in the High Court of the Republic of Singapore on 30 June 2016 by way of a Writ of Summons. The Writ of Summons was served on the Company on 4 July 2016. Pursuant to the Writ of Summons, OKGL is claiming, inter alia, breach of an a mended and restated loan agreement dated 30 July 2015 between OKGL and the Company and is seeking, among other things, the sum of $9,936,903.59. The Company is seeking legal advice on this matter and will make such further announcements as appropriate to keep shareholders informed of material developments in relation to this matter.
Oceanus Group Limited, Annual General Meeting, Jun 30, 2016
Jun 14 16
Oceanus Group Limited, Annual General Meeting, Jun 30, 2016, at 14:00 Singapore Standard Time. Location: Grassroots Club, Auditorium (Level 2), 190 Ang Mo Kio Ave 8 Singapore 568046 Singapore Agenda: To receive the audited financial statements for the financial year ended 31 December 2014, together with the Directors Statements; to consider the re-election of directors; to approve the payment of Directors' fees of SGD 300,000 for the financial year ending December 31, 2015, to be paid quarterly in arrears; to re-appoint Messrs Foo Kon Tan LLP as Auditors and to authorise the Directors to fix their remuneration; and to transact any other business that may properly be transacted at an Annual General Meeting.