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

BackMay 14, 2009
Part I
1. Date of notice to issuer 13/05/2009
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 12/05/2009
2. Name of Registered Holder HSBC (Singapore) Nominees Pte Ltd
3. Circumstance(s) giving rise to the interest or change in interest Right Issue

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").

As a result of a rights issue of TIH (the "Rights Issue"), ASMARMF, ASMVL and ASMHRF holds 16,276,192 shares, 36,601,536 shares and 1,192,491 shares of TIH respectively. All of the shares are held by their depository agent, HSBC (Singapore) Nominees Private Limited.

Accordingly, Kin Chan has a deemed interest in 54,070,219 shares.
4. Information relating to shares held in the name of the Registered Holder
 
No. of Shares held before the change 38,087,498
As a percentage of issued share capital 43.28 %
No. of Shares which are subject of this notice 15,982,721
As a percentage of issued share capital 13.62 %
Amount of consideration (excluding brokerage and stamp duties) per share paid or received 1.00
No. of Shares held after the change 54,070,219
As a percentage of issued share capital 56.9 %
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 38,087,498
As a percentage of issued share capital 0 % 43.28 %
No. of shares held after the change 0 54,070,219
As a percentage of issued share capital 0 % 46.08 %
Footnotes (i) Before the Change - the percentage of the total issued shares is calculated based on 88,000,004 Ordinary Shares.
(ii) After the Change - the percentage of the total issued shares is calculated based on 117,333,338 Ordinary Shares.