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News

NOTICE OF A SUBSTANTIAL SHAREHOLDER'S INTEREST

BackAug 19, 2009

Part I

Date of notice to issuer

18/08/2009

Name of Substantial Shareholder

Tiong Kiu King

Notice Type

Notice of a New Substantial Shareholder's interest.

Part II

Date of change of Deemed Interest

17/08/2009

Name of Registered Holder

Sharptone Investments Limited

Circumstance(s) giving rise to the interest or change in interest

# Others

Issue of 112,500,000 Consideration Shares at the issue price of S$0.80 per share, being satisfaction of part purchase consideration payable by the Company to Tan Sri Datuk Sir Tiong Hiew King and Tiong Kiu King (the "Vendors") for the acquisition of the entire share capital of Kingworld Resources Limited. The Consideration Shares were allotted to Sharptone Investments Limited ("Sharptone"), an investment holding company nominated by the Vendor. The entire share capital of Sharptone is held by the Vendors in equal proportion.

Information relating to shares held in the name of the Registered Holder

No. of Shares held before the change	0
As a percentage of issued share capital	0 %
No. of Shares which are subject of this notice	112,500,000
As a percentage of issued share capital	38.95 %
Amount of consideration (excluding brokerage and stamp duties) per share paid or received	0
No. of Shares held after the change	112,500,000
As a percentage of issued share capital	38.95 %

Part III - Not Required

Part IV

Holdings of Substantial Shareholder, including direct and deemed interest :

	Direct	Deemed
No. of shares held before the change	0	0
As a percentage of issued share capital	0 %	0 %
No. of shares held after the change	0	112,500,000
As a percentage of issued share capital	0 %	28.03 %
Footnotes	(1) Tiong Kiu King's deemed interest arises from his shareholding in Sharptone Investments Limited. (2) The percentage of issued share capital after change is based on the Company's enlarged share capital of 401,321,443 shares, taking into account the issue of the Debt Conversion Shares and the Consideration Shares.