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

BackMay 07, 2010
Part I
1. Date of notice to issuer 07/05/2010
2. Name of Substantial Shareholder ASM Asia Recovery (Master) 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 06/05/2010
2. The change in the percentage level From 48.98 % To 47.98 %
3. Circumstance(s) giving rise to the interest or change in interest # Others

Exercise of warrants by other third parties.
4. A statement of whether the change in the percentage level is the result of a transaction or a series of transactions: 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 0 83,669,656
As a percentage of issued share capital 0 % 48.98 %
No. of shares held after the change 0 83,669,656
As a percentage of issued share capital 0 % 47.98 %
Footnotes (i) Before the Change - the percentage of the total issued shares is calculated based on 170,840,225 Ordinary Shares as at 10 December 2009.

(ii) After the Change - the percentage of the total issued shares is calculated based on 174,371,781 Ordinary Shares as at 6 May 2010.

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

ASMARMF has a deemed interest in 83,669,656 shares after the change:
a) 47,068,120 ordinary shares held by ASMARMF;
b) 36,601,536 ordinary shares held by ASMVL.

All of the shares are held by their depository agent, HSBC (Singapore) Nominees Private Limited.