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Notice Of Cessation Of Substantial Shareholding

BackJun 24, 2009
Part I
1. Date of notice to issuer 22/06/2009
2. Name of Substantial Shareholder Orchard Partners 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 21/05/2009
2. The change in the percentage level From 36.88 % To 0 %
3. Circumstance(s) giving rise to the interest or change in interest # Others

Orchard Partners Limited ("OPL") ceased to be the beneficial holder of more than 20% of the issued share capital of ASM Ventures Limited ("ASMVL"), which holds 10,819,119 Series A warrants and is a Substantial Shareholder of TIH. The Series A warrants are held by ASMVL's depository agent, HSBC (Singapore) Nominees Private Limited.

Accordingly, OPL has no deemed interest in the Series A warrants held by ASMVL.
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 10,819,119
As a percentage of issued share capital 0 % 36.88 %
No. of shares held after the change 0 0
As a percentage of issued share capital 0 % 0 %
Footnotes (i) The percentage of Series A Warrants is calculated based on 29,333,334 Series A Warrants issued on 12 May 2009.
(ii) The percentage figures in Parts II & IV refers to the number of Series A Warrants.