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NOTICE OF A SUBSTANTIAL SHAREHOLDER'S INTEREST

BackAug 19, 2009
Part I
1. Date of notice to issuer 18/08/2009
2. Name of Substantial Shareholder Sharptone Investments Limited
3. Notice Type Notice of a New Substantial Shareholder's interest.
Part II
1. Date of change of Interest 17/08/2009
2. Name of Registered Holder Sharptone Investments Limited
3. 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.
4. 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
1. 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 112,500,000 0
As a percentage of issued share capital 28.03 % 0 %
Footnotes (1) 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.