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

BackSep 16, 2009
Part I
1. Date of notice to issuer 16/09/2009
2. Name of Director Chan Kin
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 16/09/2009
2. Name of Registered Holder HSBC (Singapore) Nominees Private Limited
3. Circumstance(s) giving rise to the interest or change in interest # Others

Kin Chan is a director of TIH and is the beneficial holder of more than 20% of the issued share capital of Argyle Street Management Holdings Limited ("ASMHL"). 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 11 Sep 2009, 4,495,315 and 680,000 Series A warrants of TIH held in trust by ASMVL as nominee respectively for ASMARMF and ASMHRF were exercised and ordinary shares of TIH are allotted on 16 Sep 2009. As a result, 0 and 4,733,601 Series A warrants of TIH are held in trust by ASMVL as nominee for ASMARMF and ASMHRF respectively.

In addition, 4,274,685 Series A warrants held by ASMARMF through its depository agent were exercised on 11 Sep 2009 and ordinary shares of TIH are allotted on 16 Sep 2009. As a result, 536,426 Series A warrants of TIH are held by ASMARMF through its depository agent.

ASMHRF also holds 352,491 Series A warrants through its depository agent.

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

Accordingly, Kin Chan has a deemed interest in 5,622,518 Series A warrants.
4. Information relating to shares held in the name of the Registered Holder
 
No. of Warrants held before the change 5,622,518
As a percentage of issued share capital 19.17 %
No. of Warrants which are subject of this notice 0
As a percentage of issued share capital 0 %
Amount of consideration (excluding brokerage and stamp duties) per share paid or received 0
No. of Warrants held after the change 5,622,518
As a percentage of issued share capital 28.28 %
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 5,622,518
As a percentage of issued share capital 0 % 19.17 %
No. of shares held after the change 0 5,622,518
As a percentage of issued share capital 0 % 28.28 %
Footnotes (i) The percentage figures in Parts III & IV refers to the number of Series A Warrants.
(ii) Before the change - the percentage of Series A Warrants is calculated based on 29,333,334 Series A Warrants issued on 12 May 2009.
(iii) After the change - the percentage of Series A Warrants is calculated based on 19,881,324 Series A Warrants issued as at 16 September 2009.