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Notice Of A Change In The Percentage Level Of A Substantial Shareholder's Interest

BackAug 22, 2011
Part I
1. Date of notice to issuer 22/08/2011
2. Name of Substantial Shareholder Sim Soon Ying
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 Interest 19/08/2011
2. The change in the percentage level From 57.50 % To 52.94 %
3. Circumstance(s) giving rise to the interest or change in interest # Others

Dilution of percentage shareholding as a result of the issuance of 14,693,877 new ordinary shares in the capital of the Company as part satisfaction of the 1st payment tranche of the purchase consideration in connection with the acquisition of the entire issued and paid-up share capital of Top Great Engineering & Marine Pte Ltd.
4. A statement of whether the change in the percentage level is the result of a transaction or a series of transactions: The change in the percentage level is the result of a transaction.
Part IV
1. Holdings of Substantial Shareholder, including direct and deemed interest :
 
  Direct Deemed
No. of shares held before the change 9,700,000 88,376,000
As a percentage of issued share capital 5.69 % 51.81 %
No. of shares held after the change 9,700,000 88,376,000
As a percentage of issued share capital 5.24 % 47.70 %
Footnotes i) Mr Sim Soon Ying is deemed interested in the Shares held by Mdm Chua Kim Choo, Mr Sim Soon Ngee Glenndle and Ms Sim Wei Wei. Mr Sim Soon Ying is the son of Mdm Chua Kim Choo and the brother of Mr Sim Soon Ngee Glenndle and Ms Sim Wei Wei.

ii) The percentage of issued share capital before the change is based on 170,572,600 shares rounded to 2 decimal places.

iii) The percentage of issued share capital after the change is based on 185,266,477 as at 19 August 2011 rounded to 2 decimal places.

This announcement and its contents have been reviewed by the Sponsor, CIMB Bank Berhad, Singapore Branch, for compliance with the relevant rules of the SGX-ST, this being the Catalist Rules. The Sponsor has not independently verified the contents of this announcement. This announcement has not been examined or approved by the SGX-ST. The Sponsor and the SGX-ST assume no responsibility for the contents of this announcement, including the correctness of any of the statements or opinions made or reports contained in this announcement.

The contact person for the Sponsor is Mr Mah Kah Loon, Head, Corporate Finance, CIMB Bank Berhad, Singapore Branch, 50 Raffles Place, #09-01 Singapore Land Tower, Singapore 048623, telephone (65) 6337-5115.