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Notice Of Cessation Of Substantial Shareholding

BackSep 18, 2009
Part I
1. Date of notice to issuer 17/09/2009
2. Name of Substantial Shareholder NTUC Income Insurance Co-operative 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 Deemed Interest 17/09/2009
2. The change in the percentage level From 9.25 % To 0 %
3. Circumstance(s) giving rise to the interest or change in interest # Others

Dilution of shares and series of sale transactions.
4. A statement of whether the change in the percentage level is the result of a transaction or a series of transactions: Sales of 39,000 shares were completed on 25 Jun 2009 reducing the holding from 9.25% to 9.22%. Sales of another 70,000 shares were completed on 26 Jun 2009 reducing the holding from 9.22% to 9.16%. As at 16 Sep 2009, NTUC Income holding in the shares was diluted from 9.16% to 8.47% after the exercise of the warrants. Sale of the remaining holding of 8.47% shares was completed on 17 Sep 2009 and NTUC Income has ceased to be a substantial shareholder of TIH.
Part IV
1. Holdings of Substantial Shareholder, including direct and deemed interest :
 
  Direct Deemed
No. of shares held before the change 0 10,852,000
As a percentage of issued share capital 0 % 9.25 %
No. of shares held after the change 0 0
As a percentage of issued share capital 0 % 0 %
Footnotes (i) Before the Change - the percentage of the total issued shares is calculated based on 117,333,338 Ordinary Shares as at 12 May 2009.
(ii) After the Change - the percentage of the total issued shares is calculated based on 126,787,358 Ordinary Shares as at 16 Sep 2009.
(iii) The Change in Percentage Level is:-
(a) From 9.25% to 9.22% after the sale transactions on 25 Jun 2009.
(b) From 9.22% to 9.16% after the sale transactions on 26 Jun 2009.
(b) From 9.16% to 8.47% after the exercise of the warrants as at 16 Sep 2009.
(c) From 8.47% to 0% after the sale transactions on 17 Sep 2009.