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| Part I | ||||||||||||||||||||
| 1. | Date of notice to issuer | 11/12/2009 | ||||||||||||||||||
| 2. | Name of Substantial Shareholder | Argyle Street Management Holdings Limited | ||||||||||||||||||
| 3. | Notice Type | Notice of a Change in the Percentage Level of a Substantial Shareholder's Interest or Cessation of Interest. |
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| Part II - Not Required | ||||||||||||||||||||
| Part III | ||||||||||||||||||||
| 1. | Date of change of Deemed Interest | 10/12/2009 | ||||||||||||||||||
| 2. | The change in the percentage level | From 52.71 % To 56.42 % | ||||||||||||||||||
| 3. | Circumstance(s) giving rise to the interest or change in interest | # Others Argyle Street Management Holdings Limited ("ASMHL") is the beneficial holder of more than 50% of the voting shares of Argyle Street Management Limited ("ASML"). ASML is the beneficial holder of more than 20% of the voting shares of ASM Hudson River Fund ("ASMHRF") and ASM Asia Recovery Fund ("ASMARF"). ASMARF is the beneficial holder of more than 50% of the issued share capital of ASM Asia Recovery (Master) Fund ("ASMARMF"). ASMARMF and ASMHRF are the beneficial holders 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 and ordinary shares of TIH are allotted on 10 Dec 2009. As a result, 8,990,630 shares of TIH are held in trust by ASMVL as nominee for ASMARMF. On 1 Dec 2009, 4,733,601 Series A warrants and 5,413,601 Series B warrants of TIH held in trust by ASMVL as nominee for ASMHRF were exercised and ordinary shares of TIH are allotted on 10 Dec 2009. As a result, 10,827,202 shares of TIH are held in trust by ASMVL as nominee for ASMHRF. In addition, 536,426 Series A warrants of TIH and 4,811,111 Series B warrants of TIH held by ASMARMF through its depository agent were exercised on 1 Dec 2009 and ordinary shares of TIH are allotted on 10 Dec 2009. As a result, 38,077,490 shares of TIH are held by ASMARMF through its depository agent. In addition, 352,491 Series A warrants of TIH and 352,491 Series B warrants of TIH held by ASMHRF through its depository agent were exercised on 1 Dec 2009 and ordinary shares of TIH are allotted on 10 Dec 2009. As a result, 1,897,473 shares of TIH are held by ASMHRF through its depository agent. ASMVL also holds 36,601,536 shares of TIH respectively through its depository agent. All of the shares are held by their depository agent, HSBC (Singapore) Nominees Private Limited. Accordingly, ASMHL has a deemed interest in 96,394,331 shares. |
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| 4. | A statement of whether the change in the percentage level is the result of a transaction or a series of transactions: | The change in percentage is a result of a single transaction. | ||||||||||||||||||
| Part IV | ||||||||||||||||||||
| 1. | Holdings of Substantial Shareholder, including direct and deemed interest : | |||||||||||||||||||
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