| |
| |
Direct |
Deemed |
| No. of shares held before the change |
0 |
25,028,571 |
| As a percentage of issued share capital |
0 % |
5.68 % |
| No. of shares held after the change |
0 |
12,514,286 |
| As a percentage of issued share capital |
0 % |
2.84 % |
| Footnotes |
1. The percentage shareholdings were computed based on 440,870,000 ordinary shares in the Company ("Shares") as at 20 May 2008.
2. Ms. Irina Nair is the wife of Mr. Sudeep Nair, who is a director of the Company.
3. At the relevant time, Ms. Irina Nair and Mr. Sudeep Nair were directors of Bestgate Investments Ltd ("Bestgate") and they each owned 50% of the voting shares of Bestgate.
4. Prior to 20 May 2008, Bestgate held 25,028,571 Shares. On 20 May 2008, Bestgate transferred 12,514,285 Shares to Mr. Sudeep Nair. On 10 June 2008, Bestgate was issued and allotted 2,502,857 new Shares following completion of a 1-for-5 bonus issue ("Bonus Issue"). On 8 August 2008, Bestgate transferred its remaining 15,017,143 Shares to Mr. Sudeep Nair and Bestgate ceased to hold any Shares since.
5. On 2 June 2008 and 12 August 2008, the Company announced Ms. Irina Nair's change in interests as a result of the foregoing Share transfers by Bestgate to Mr. Sudeep Nair and on 10 June 2008, the Company announced Ms. Irina Nair's change in interests as result of the 2,502,857 new Shares issued and allotted to Bestgate following completion of the Bonus Issue. In these announcements, Ms. Irina Nair disclosed that her deemed interest in the Shares arose from (a) Shares held by Bestgate (up to 8 August 2008 when Bestgate transferred its remaining 15,017,143 Shares to Mr. Sudeep Nair) and (b) Shares held by Mr. Sudeep Nair and his nominees (namely, Kim Eng Securities Pte Ltd and UOB Kay Hian Pte Ltd).
6. Ms. Irina Nair wishes to clarify that she was only deemed interested in the Shares held by Bestgate and she was and is not deemed interested in the Shares held by Mr. Sudeep Nair (including the Shares that were subsequently transferred from Bestgate to Mr. Sudeep Nair) and his nominees. Therefore, she ceased to be a substantial shareholder of the Company when Bestgate's percentage shareholding in the Company decreased from 5.68% to 2.84% following the transfer of 12,514,285 Shares from Bestgate to Mr. Sudeep Nair on 20 May 2008.
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