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Notice Of A Director's (Including A Director Who Is A Substantial Shareholder) Interest And Change In Interest

BackDec 29, 2009
Part I
1. Date of notice to issuer 29/12/2009
2. Name of Director Hsu Chih-Chien
3. Notice Type Notice of a Director's (including a director who is a substantial shareholder) Interest and Change in Interest.
Notice of a Change in the Percentage Level of a Substantial Shareholder's Interest or Cessation of Interest.
Part II
1. Date of change of Interest 29/12/2009
2. Name of Registered Holder Sea-Sea Marine Company Limited
3. Circumstance(s) giving rise to the interest or change in interest # Others

Cessation of deemed interest in the 142,081,611 shares of Courage Marine Group Limited ("Courage Marine") representing 13.42% of the issued shares of Courage Marine directly held by Sea-Sea Marine Company Limited ("SSMC") and 6,737,000 shares of Courage Marine representing 0.63% of the issued shares of Courage Marine held by Pilot Assets Group Limited ("PAGL") which SSMC is deemed interested in, by reason of transfer of 100% of the shares of SSMC from Mr Hsu Chih-Chien to Besco Holdings Limited ("Besco").
4. Information relating to shares held in the name of the Registered Holder
 
No. of Shares held before the change 142081611
As a percentage of issued share capital 13.42 %
No. of Shares which are subject of this notice 142081611
As a percentage of issued share capital 13.42 %
Amount of consideration (excluding brokerage and stamp duties) per share paid or received 0
No. of Shares held after the change 142081611
As a percentage of issued share capital -
Part III
1. Date of change of Interest 29/12/2009
2. The change in the percentage level From 14.06 % To 0 %
3. Circumstance(s) giving rise to the interest or change in interest # Others

Cessation of deemed interest in the 142,081,611 shares of Courage Marine representing 13.42% of the issued shares of Courage Marine directly held by SSMC and 6,737,000 shares of Courage Marine representing 0.63% of the issued shares of Courage Marine held by PAGL which SSMC is deemed interested in, by reason of transfer of 100% of the shares of SSMC from Mr Hsu Chih-Chien to Besco.
4. A statement of whether the change in the percentage level is the result of a transaction or a series of transactions: The change in percentage level is the result of a transaction as further described below.
Part IV
1. Holdings of Director, including direct and deemed interest :
 
  Direct Deemed
No. of shares held before the change 0 148818611
As a percentage of issued share capital 0 % 14.06 %
No. of shares held after the change 0 0
As a percentage of issued share capital 0 % 0 %
Footnotes (1) The change in percentage level held before and after is calculated based on the issued ordinary shares of Courage Marine Group Limited ("Shares") of 1,058,829,308 Shares as at 29th December 2009.

(2) As of 29th December 2009, SSMC has a direct interest in 142,081,611 Shares and a deemed interest in 6,737,000 Shares held by PAGL. Prior to the transfer by Mr Hsu Chih-Chien of 100% of his interest in SSMC to Besco, further details of which is set out in paragraph 3 below, Mr Hsu Chih-Chien who then held 100% of the issued shares of SSMC was deemed by virtue of Section 7(4A) of the Companies Act to have an interest in 148,818,611 Shares representing 14.06% of the issued Shares in which SSMC has an interest.

(3) On 29th December 2009, Mr Hsu Chih-Chien transferred 100% of his interests in SSMC to Besco for nominal consideration. Besco is wholly owned by HSBC International Trustee Limited as trustee of The Lowndes Foundation. Following such transfer, Mr. Hsu Chih-Chien ceases to have an interest in the 148,818,611 Shares representing 14.06% of the issued Shares.

Note:
The shareholdings held before and after the change as a percentage were calculated based on a total of 1,058,829,308 issued shares in the capital of Courage Marine Group Limited, excluding treasury shares (if any).
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