| Part I |
| 1. |
Date of notice to issuer |
11/06/2008 |
| 2. |
Name of Substantial Shareholder |
Pilot Assets Group 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 0.64 % |
| 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 series of transactions. |
| Part IV |
| 1. |
Holdings of Substantial Shareholder, including direct and deemed interest : |
| |
| |
Direct |
Deemed |
| No. of shares held before the change |
669740318 |
0 |
| As a percentage of issued share capital |
63.25 % |
0 % |
| No. of shares held after the change |
6737000 |
0 |
| As a percentage of issued share capital |
0.64 % |
0 % |
| 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. Pursuant to a restructuring, PAGL transferred 663,003,318 Shares, representing 62.61% of the issued Shares, at nil consideration to the following companies and in the corresponding proportion by way of an off-market transfer:-
China Lion International Limited - 13.42%
Pronto Star Limited - 13.42%
China Harvest Enterprises Limited - 13.42%
Sea-Sea Marine Company Limited - 13.42%
Unit Century Enterprises Limited - 8.94%
(3) Following such transfer, PAGL has a direct interest of 6,737,000 Shares, representing 0.64% of Shares in the Company and accordingly, ceased to be a substantial shareholder of the Company.
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