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

BackSep 24, 2009
Part I
1. Date of notice to issuer 18/09/2009
2. Name of Substantial Shareholder Bastion Associates 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 16/09/2009
2. The change in the percentage level From 12.93 % To 19.08 %
3. Circumstance(s) giving rise to the interest or change in interest # Others

Percentage change of interest as a result of the exercise of warrants by third parties.
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 3,793,890
As a percentage of issued share capital 0 % 12.93 %
No. of shares held after the change 0 3,793,890
As a percentage of issued share capital 0 % 19.08 %
Footnotes (i)The percentage of Series A Warrants (before the change) is calculated based on 29,333,334 Series A Warrants issued on 12 May 2009.
(ii)The percentage of Series A Warrants (after the change) is calculated based on 19,881,324 Series A Warrants as at 16 September 2009.
(iii)The percentage figures in Parts III & IV refers to the number of Series A Warrants.
(iv)Bastion Associates Limited own 71% of Transpac Investments Limited ("TIL"). TIL is a substantial shareholder of Transpac Industrial Holdings Limited.