| Part I | ||||||||||||||||||||
| 1. | Date of notice to issuer | 18/08/2009 | ||||||||||||||||||
| 2. | Name of Substantial Shareholder | Woodsville International Limited | ||||||||||||||||||
| 3. | Notice Type | Notice of a Change in the Percentage Level of a Substantial Shareholder's Interest or Cessation of Interest. | ||||||||||||||||||
| Part II - Not Required | ||||||||||||||||||||
| Part III | ||||||||||||||||||||
| 1. | Date of change of Deemed Interest | 17/08/2009 | ||||||||||||||||||
| 2. | The change in the percentage level | From 68.62 % To 50.56 % | ||||||||||||||||||
| 3. | Circumstance(s) giving rise to the interest or change in interest | # Others (1) Issue of 15,000,000 shares in the capital of the Company at the issue price of S$0.80 per share, in consideration of the conversion of loans amounting to an aggregate S$12 million owing to Surreyville Pte Ltd ("Surreyville") by the Company (the "Debt Conversation Shares"). (2) 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. |
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| 4. | A statement of whether the change in the percentage level is the result of a transaction or a series of transactions: | Series of transactions. | ||||||||||||||||||
| Part IV | ||||||||||||||||||||
| 1. | Holdings of Substantial Shareholder, including direct and deemed interest : | |||||||||||||||||||
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