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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 is the beneficial holder 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, 4,495,315 and 680,000 shares 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 are allotted on 16 Sep 2009. As a result, 20,550,877 shares of TIH are held by ASMARMF through its depository agent.

ASMHRF and ASMVL also hold 1,192,491 and 36,601,536 shares of TIH respectively through their depository agent.

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

Accordingly, Kin Chan has a deemed interest in 63,520,219 shares.
4. Information relating to shares held in the name of the Registered Holder
 
No. of Shares held before the change 54,070,219
As a percentage of issued share capital 46.08 %
No. of Shares which are subject of this notice 9,450,000
As a percentage of issued share capital 7.45 %
Amount of consideration (excluding brokerage and stamp duties) per share paid or received 1.00
No. of Shares held after the change 63,520,219
As a percentage of issued share capital 53.53 %
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 54,070,219
As a percentage of issued share capital 0 % 46.08 %
No. of shares held after the change 0 63,520,219
As a percentage of issued share capital 0 % 50.10 %
Footnotes (i) Before the change - the percentage of the total issued shares is calculated based on 117,333,338 Ordinary Shares as at 12 May 2009.
(ii) After the change - the percentage of the total issued shares is calculated based on 126,787,358 Ordinary Shares as at 16 September 2009.