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

BackMar 01, 2012
Part I
1. Date of notice to issuer 01/03/2012
2. Name of Substantial Shareholder Oriental Castle Sdn Bhd
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 01/03/2012
2. The change in the percentage level From 26.00 % To 26.00 %
3. Circumstance(s) giving rise to the interest or change in interest # Others

Pursuant to a sale and purchase of share agreement dated 16 February 2012 entered into between OCS and Oriental Sheet Piling Sdn. Bhd ("OSP"), OCS sold to OSP 43,700,000 ordinary shares (the Shares) in the listed company (the Agreement). The sale was completed on 1 March 2012.
4. A statement of whether the change in the percentage level is the result of a transaction or a series of transactions: There is no change in the percentage level as a result of the transaction under the Agreement.
Part IV
1. Holdings of Substantial Shareholder, including direct and deemed interest :
 
  Direct Deemed
No. of shares held before the change 284,050,000 0
As a percentage of issued share capital 26.00 % 0 %
No. of shares held after the change 240,350,000 43,700,000
As a percentage of issued share capital 22.00 % 4.00 %
Footnotes OCS has a 40% equity interest in the share capital of OSP and is deemed to be interested in the 43,700,000 Shares held by OSP.
OCS has a deemed interest in the 43,700,000 Shares held by OSP pursuant to a call option granted by OSP to OCS on 16 February 2012 over the 43,700,000 Shares (the "Option Shares") upon completion under the Agreement.
The percentage of issued share capital is calculated based on 1,092,521,962 Shares in issue as at 29 February 2012.