Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

COURAGE MARINE GROUP LIMITED

(Incorporated in Bermuda with limited liability) (Hong Kong Stock Code: 1145) (Singapore Stock Code: ATL.SI)

TERMINATION OF MEMORANDUM OF UNDERSTANDING

Reference is made to the announcement of the Company dated 18 August 2016 (the "Announcement") in relation to the MOU entered into between the Company and the Vendor regarding the Proposed Acquisition. Unless otherwise specified, capitalised terms used herein shall have the same meaning as defined in the Announcement.

As no Formal Agreement has been entered into by 31 December 2016, the MOU has been terminated accordingly without liability to any party to the MOU.

The Board considers that the termination of the MOU does not have any material adverse impact on the Group's financial position and business operation.

By Order of the Board

Courage Marine Group Limited Sue Ka Lok

Chairman

Hong Kong, 31 December 2016

As at the date of this announcement, the Board comprises Mr. Sue Ka Lok (Chairman), Mr. Lai Ming Wai (Chief Executive Officer) and Ms. Chan Yuk Yee as Executive Directors and Mr. Ngiam Zee Moey, Mr. Zhou Qijin and Mr. To Yan Ming, Edmond as Independent Non-executive Directors.

Courage Marine Group Limited published this content on 03 January 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 03 January 2017 00:27:04 UTC.

Original documenthttp://couragemarine.listedcompany.com/newsroom/20170103_082150_ATL_BIEAP6M2TTIXOSXR.1.pdf

Public permalinkhttp://www.publicnow.com/view/838A0C8C9A54FA913FB6AE38787B7C5D42DC9266