HG Metal Manufacturing Limited - Investor & shareholders: News

BackJul 27, 2011

Part I

Date of notice to issuer

27/07/2011

Name of Substantial Shareholder

Oriental Castle Sdn. Bhd.

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

Date of change of Interest

25/07/2011

The change in the percentage level

From 17.44 % To 23.66 %

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

# Others

Exercise of call option. Allotment of 76,500,000 new ordinary shares in the share capital of HG Metal Manufacturing Limited.

A statement of whether the change in the percentage level is the result of a transaction or a series of transactions:

A single transaction

Part IV

Holdings of Substantial Shareholder, including direct and deemed interest :

	Direct	Deemed
No. of shares held before the change	163,850,000	153,000,000
As a percentage of issued share capital	17.44 %	16.28 %
No. of shares held after the change	240,350,000	76,500,000
As a percentage of issued share capital	23.66 %	7.53 %
Footnotes	(1) The percentage of interests disclosed herein is calculated based on the following total number of issued shares in the capital of the Company: (a) held before the change = 939,521,962 (b) held after the change = 1,016,021,962 (2) OCS is deemed to have an interest in 76,500,000 of the remaining Call Option Shares by virtue of Section 7 of the Companies Act, Chapter 50 of Singapore; (3) reference to the subscription agreement dated 19 July 2010 entered into between the Company and Oriental Castle Sdn Bhd; (4) on 19 July 2011, Oriental Castle Sdn Bhd exercised the Call Option (as defined in the subscription agreement) to subscribe for 153,000,000 Shares. Completion for 76,500,000 Shares took place on 25 July 2011. For the balance 76,500,000 Shares, completion will be fixed on a later date.