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News

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

BackSep 16, 2009

Part I

Date of notice to issuer

16/09/2009

Name of Director

Chan Kin

Notice Type

Notice of a Director's (including a director who is a substantial shareholder) Interest and Change in Interest.

Part II

Date of change of Deemed Interest

16/09/2009

Name of Registered Holder

HSBC (Singapore) Nominees Private Limited

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.

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

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.