Otium (AIM: OTV) announces, further to the release of 16 May 2011, that the cancellation of admission to trading on AIM of the ordinary shares of 0.01 of one penny each in the capital of the Company is expected to take effect at 07:00 on 13 June 2011.

The Company is seeking to raise a minimum of £3 million and to be admitted to trading on AIM. An update will be provided to Otium's shareholders in due course.