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Proposed Sale of Neptune's Business to MMA Offshore Limited

Neptune Marine Services Limited (“NMS” or the “Company”) is pleased to announce that it has entered into a binding Share Purchase Agreement (“Agreement”) for the sale of its business to MMA Offshore Limited (“MMA”) (the “Transaction”). The Transaction will involve the sale of the shares in NMS's key operating subsidiaries.

Please click here Proposed Sale of Neptunes Business to MMA Offshore Limited to view

Appendix G4 and Corporate Governance Statement

Market conditions remained difficult as we entered this last financial year. However there were tangible signs that the market was showing signs of improvement.
As predicted the second half of the year saw activity picking up significantly. Over 60% of the full year revenue was performed in the second six months and
Neptune was profitable during this period. These stronger market conditions have continued into the start of the new financial year and activity remains strong.
However despite improvement in revenue, the pressure on margins remains significant and it is expected that it will be sometime before improvements to margins
are experienced.

To view Statement, please click here Appendix G4 and Corporate Governance Statement

Neptune Announces FY 2018 Results

PERTH, Western Australia: Neptune Marine Services Limited (ASX: NMS, Neptune or the Company) advises that it has recorded a net operational loss of $7.1m on revenue totaling $67.7m in what has been a continuing difficult market.
 

Change of Board Directors

Mr Dominic Siu has resigned as a director of the Board at Neptune Marine Services.

The Board are pleased to announce the appointment of Mr Nicholas Cocks as an independent director.

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