MARIDIVE & OIL SERVICES 28/03/2010 EGM
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PIRC was not able to secure sufficient information from the company to enable us to deliver an informed report. This was despite attempts by PIRC to secure this information from the company and/or its representatives. PIRC’s Global service defines reportable companies as those which provide adequate and timely English language disclosure of materials which explain the meeting agenda.

PIRC has made best efforts to obtain such disclosures for this meeting but has been unable to do so. Unless sufficient information becomes available subsequent to the issuance of these recommendations, PIRC advises clients not to support proposals one and three.

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1Approve to increase the Company's capital by USD 122,880,000 through the distribution of 307,200,000 bonus sharesAbstain
2Approve the Name ChangeFor
3Amend the Company's terms of the statuteAbstain