| Part I |
| 1. |
Date of notice to issuer |
11/06/2008 |
| 2. |
Name of Substantial Shareholder |
Sea-Sea Marine Company Limited |
| 3. |
Notice Type |
Notice of a Change in the Percentage Level of a Substantial Shareholder's Interest or Cessation of Interest.
|
| Part II - Not Required |
| Part III |
| 1. |
Date of change of Interest |
11/06/2008 |
| 2. |
The change in the percentage level |
From 63.25 % To 14.06 % |
| 3. |
Circumstance(s) giving rise to the interest or change in interest |
# Others
Off market transfer. |
| 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 the percentage level is the result of a transaction. |
| Part IV |
| 1. |
Holdings of Substantial Shareholder, including direct and deemed interest : |
| |
| |
Direct |
Deemed |
| No. of shares held before the change |
0 |
669740318 |
| As a percentage of issued share capital |
0 % |
63.25 % |
| No. of shares held after the change |
142081611 |
6737000 |
| As a percentage of issued share capital |
13.42 % |
0.64 % |
| Footnotes |
(1) The change in percentage level held before and after is calculated based on the issued ordinary shares ("Shares") of 1,058,829,308 Shares as at 30 May 2008.
(2) As of 30 May 2008, Pilot Assets Group Limited ("PAGL") has a direct interest in 669,740,318 Shares, representing 63.25% of the issued Shares. PAGL is an associated company of Sea-Sea Marine Company Limited ("SSMC") by virtue of SSMC's shareholdings in PAGL. Accordingly, SSMC is deemed by virtue of Section 7(4A) of the Companies Act ("Act") to have an interest in 669,740,318 Shares in which PAGL has a direct interest.
(3) Pursuant to a restructuring, PAGL transferred 663,003,318 Shares to its shareholders in the proportion of their shareholding interests in PAGL including the transfer of 142,081,611 Shares, representing 13.42% of the issued Shares, to SSMC by way of an off market transfer and at nil consideration.
(4) Following such transfer, SSMC therefore has a direct and deemed interest of 148,818,611 Shares representing 14.06% of the issued Shares.
|
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