OCEANUS GROUP LIMITED: NOTICE OF CESSATION OF SUBSTANTIAL SHAREHOLDING

Notice of Interest/Change in Interest
* Asterisks denote mandatory information
Name of Announcer *	OCEANUS GROUP LIMITED
Company Registration No.	199805793D
Announcement submitted on behalf of	OCEANUS GROUP LIMITED
Announcement is submitted with respect to *	OCEANUS GROUP LIMITED
Announcement is submitted by *	NG CHER YEW
Designation *	EXECUTIVE CHAIRMAN
Date & Time of Broacast	14-Aug-2012 18:00:23
Announcement No.	00163
Price Sensitivity	No

>> Announcement Details

The details of the announcement start here ...

>> Part I
1. Date of notice to issuer *	14/08/2012
2. Name of Substantial Shareholder *	Bestglobal Enterprises Corp
3. Please tick one or more appropriate box(es): *
- Notice of a Change in the Percentage Level of a Substantial Shareholder's Interest or Cessation of Interest. [Please complete Part III and IV]

>> Part II
1. Date of change of [Select Option]
2. Name of Registered Holder
3. Circumstance(s) giving rise to the interest or change in interest
# Please specify details
4. Information relating to shares held in the name of the Registered Holder
No. of N.A. held before the change
As a percentage of issued share capital
No. of N.A. which are subject of this notice
As a percentage of issued share capital
Amount of consideration (excluding brokerage and stamp duties) per share paid or received
No. of N.A. held after the change
As a percentage of issued share capital

>> Part III
1. Date of change of Interest	13/08/2012
2. The change in the percentage level	From 9.25 % to 1.96 %
3. Circumstance(s) giving rise to the interest or change in interest	# Others
# Please specify details	As announced by Oceanus Group Limited on 21 June 2012, a Settlement Agreement dated 21 June 2012 was entered into between Dr Ng Cher Yew ("NCY") and Bestglobal Enterprise Corp ("BEC") on one part, and Yu De Hua ("YDH") on the other, whereby it was agreed that NCY and/or BEC shall transfer and/or shall procure the transfer to YDH (or to such other parties as YDH may direct) and/or to deal with 446,317,492 Oceanus Shares in full and final settlement of their disputes in accordance with the terms of the Settlement Agreement. As scheduled in the Settlement Agreement, out of the aforesaid 446,317,492 Oceanus Shares, an aggregate of 186,317,492 Oceanus Shares held by BEC have on 13 August 2012 been transferred out and applied towards the settlement of Oceanus Group Limited's existing creditors' issues.
4. A statement of whether the change in the percentage level is the result of a transaction or a series of transactions	A series of transactions. An aggregate of 186,317,492 Oceanus Shares were transacted in two tranches of 92,541,374 Oceanus Shares and 93,776,118 Oceanus Shares respectively on 13 August 2012.

>> Part IV
1. Holdings of Substantial Shareholder, including direct and deemed interest:
	Direct	Deemed
No. of shares held before the change	236,317,492	0
As a percentage of issued share capital	9.25 %	0 %
No. of shares held after the change	50,000,000	0
As a percentage of issued share capital	1.96 %	0 %