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Notice Of A Change In The Percentage Level Of A Substantial Shareholder's Interest

BackDec 03, 2009
Part I
1. Date of notice to issuer 02/12/2009
2. Name of Substantial Shareholder ASM Asia Recovery Fund
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 Deemed Interest 01/12/2009
2. The change in the percentage level From 39.27 % To 0 %
3. Circumstance(s) giving rise to the interest or change in interest # Others

ASM Asia Recovery Fund ("ASMARF") is the beneficial holder of more than 50% of the issued share capital of ASM Asia Recovery (Master) Fund ("ASMARMF"). ASMARMF is the beneficial holder of more than 20% of the issued share capital of ASM Ventures Limited ("ASMVL").

On 1 Dec 2009, 4,495,315 Series B warrants of TIH held in trust by ASMVL as nominee for ASMARMF were exercised.

In addition, 4,811,111 Series B warrants of TIH held by ASMARMF through its depository agent were exercised on the same day.

Accordingly, ASMARF has no deemed interest in any Series B warrants.
4. A statement of whether the change in the percentage level is the result of a transaction or a series of transactions: The change is the result of a single transaction.
Part IV
1. Holdings of Substantial Shareholder, including direct and deemed interest :
 
  Direct Deemed
No. of shares held before the change 0 9,306,426
As a percentage of issued share capital 0 % 39.27 %
No. of shares held after the change 0 0
As a percentage of issued share capital 0 % 0 %
Footnotes (i)The percentage figures in Parts III & IV refers to the number of Series B Warrants.
(ii) Before the change - the percentage of Series B Warrants is calculated based on 23,697,457 Series B Warrants issued on 25 November 2009.