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Notice Of Cessation Of Substantial Shareholding

BackMar 31, 2010
Part I
1. Date of notice to issuer 30/03/2010
2. Name of Substantial Shareholder LINGCO MARINE PTE. LTD.
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 29/03/2010
2. The change in the percentage level From 10.66 % To 0.27 %
3. Circumstance(s) giving rise to the interest or change in interest # Others

MARRIED DEAL.
4. A statement of whether the change in the percentage level is the result of a transaction or a series of transactions: CHANGE OF PERCENTAGE WAS THE RESULT OF 2 TRANSACTIONS SEPARATELY ENTERED INTO BY LINGCO HOLDINGS PTE LTD AND LINGCO MARINE PTE. LTD..
Part IV
1. Holdings of Substantial Shareholder, including direct and deemed interest :
 
  Direct Deemed
No. of shares held before the change 52,700,666 30,000,000
As a percentage of issued share capital 6.79 % 3.87 %
No. of shares held after the change 1,054,092 1,000,000
As a percentage of issued share capital 0.14 % 0.13 %
Footnotes Lingco Marine Pte. Ltd. is deemed interested in the 30,000,000 shares (registered in the name of Lingco Holdings Pte Ltd) by virtue of Section 7 of the Companies Act, Cap 50.