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Notice Of A Substantial Shareholder's Interest

BackJul 21, 2010
Part I
1. Date of notice to issuer 20/07/2010
2. Name of Substantial Shareholder ORIENTAL CASTLE SDN. BHD.
3. Notice Type Notice of a New Substantial Shareholder's interest.
Part II
1. Date of change of Interest 19/07/2010
2. Name of Registered Holder ORIENTAL CASTLE SDN. BHD.
3. Circumstance(s) giving rise to the interest or change in interest # Others

Oriental Castle Sdn. Bhd. ("OCS") entered into a conditional subscription agreement dated 17 July 2010 with HG Metal Manufacturing Limited ("HG Metal") pursuant to which:-
(a) OCS has agreed to subscribe for 163,850,000 new ordinary shares in the share capital of HG Metal; and

(b) HG Metal has agreed to grant OCS a call option ("Call Option") whereby, OCS will be entitled to subscribe for a further 153,000,000 (or such other number representing 14% of the enlarged share capital of HG Metal as at the date of the exercise of the Call Option) new ordinary shares ("Call Option Shares") in the capital of HG Metal.
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 316,850,000
As a percentage of issued share capital 29 %
Amount of consideration (excluding brokerage and stamp duties) per share paid or received 0
No. of Shares held after the change 316,850,000
As a percentage of issued share capital 29 %
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 0 316,850,000
As a percentage of issued share capital 0 % 29 %
Footnotes (1) The percentages of issued share capital are calculated based on the enlarged issued share capital of 1,092,521,962 shares.

(2) OCS is deemed to have an interest in the shares by virtue of Section 7 of the Companies Act, Chapter 50 of Singapore.