March 6 (Reuters) - Oceanus Group Ltd
* On 2 march 2017, oceanus aquaculture limited received from prc authority duly executed compensation agreements
* Gross aggregate compensation amount stated in compensation agreements is rmb182.5 million
* Company intends to utilise net compensation amount received from compulsory acquisition to repay total debt of s$20 million
* Has been informed of intention of gulei zhen people's government to compulsorily acquire 13 Abalone Farms of Oceanus (China) Aquaculture
* Proceeds from compulsory acquisition are expected to be recognized in financial year ending 31 dec 2017
* "Compulsory acquisition will not have a material impact on company's operations"
* Company will relocate its existing operations to its farms in fotan, People's Republic Of China Source text for Eikon: Further company coverage: