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Notice Of A Director's (Including A Director Who Is A Substantial Shareholder) Interest And Change In Interest

BackNov 30, 2009
Part I
1. Date of notice to issuer 26/11/2009
2. Name of Director George Raymond Zage III
3. Notice Type Notice of a Director's (including a director who is a substantial shareholder) Interest and Change in Interest.
Part II
1. Date of change of Deemed Interest 24/11/2009
2. Name of Registered Holder Raffles Nominees Pte Ltd
3. Circumstance(s) giving rise to the interest or change in interest # Others

Exercise of Series A Warrants
4. Information relating to shares held in the name of the Registered Holder
 
No. of Warrants held before the change 700,309
As a percentage of issued share capital 3.61 %
No. of Warrants which are subject of this notice 700,309
As a percentage of issued share capital 3.61 %
Amount of consideration (excluding brokerage and stamp duties) per share paid or received 1.00
No. of Warrants held after the change 0
As a percentage of issued share capital 0 %
Part III - Not Required
Part IV
1. Holdings of Director, including direct and deemed interest :
 
  Direct Deemed
No. of shares held before the change 0 700,309
As a percentage of issued share capital 0 % 3.61 %
No. of shares held after the change 0 0
As a percentage of issued share capital 0 % 0 %
Footnotes (1) Before the Change - the percentage of Series A Warrants is calculated based on 19,411,324 warrants outstanding as at 11 November 2009.

(2) Deemed Interest before the Change registered in the names of
(i) 18,000 Series A Warrants: Noonday Capital Partners, LLC
(ii) 51,000 Series A Warrants: Noonday Offshore, Inc.
(iii) 184,033 Series A Warrants: Farallon Capital Partners, L.P.
(iv) 125,575 Series A Warrants: Farallon Capital Institutional Partners, L.P.
(v) 27,000 Series A Warrants: Farallon Capital Institutional Partners II, L.P.
(vi) 126,437 Series A Warrants: Farallon Capital Offshore Investors II, L.P.
(vii) 168,264 Series A Warrants: Farallon Capital Offshore Investors III, Inc

Series A Warrants of (i) to (vii) were registered under the name of Raffles Nominees Pte Ltd.

Noonday Asset Management Asia Pte. Ltd. is deemed interested as it has been delegated voting and dispositive authority over the shares on behalf of various investment funds managed jointly with Farallon Capital Management L.L.C, the investment manager of such funds, and Farallon Partners, L.L.C., the general partner of certain funds. Farallon Capital Management L.L.C. and Farallon Partners, L.L.C retain certain authority over positions managed by Noonday Asset Management Asia Pte. Ltd. and therefore each of Farallon Capital Management, L.L.C. and Farallon Capital Management, L.L.C. and Farallon Partners, L.L.C. may also be deemed to control some or all of the shares and deemed interested for purposes of Section 7 of the Companies Act, Cap. 50.

George Raymond Zage III is a Director of Noonday Asset Management Asia Pte. Ltd. and is deemed interested under Section 7 of the Companies Act, Cap. 50.

(3) The percentage figures in Parts II & IV refers to the number of Series A Warrants.