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News
Notice Of A Change In The Percentage Level Of A Substantial Shareholder's Interest
| 1. |
Date of notice to issuer * |
06-06-2006 |
| 2. |
Name of Substantial Shareholder * |
Parallax Capital Management Pte Ltd |
| 3. |
Please tick one or more appropriate box(es): * |
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Notice of a Change in the Percentage Level of a Substantial Shareholder's Interest or Cessation of Interest. [Please complete Part III and IV]
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| 1. |
Date of change of [Select Option] |
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| 2. |
Name of Registered Holder |
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| 3. |
Circumstance(s) giving rise to the interest or change in interest |
[Select Option] |
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# Please specify details |
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| 4. |
Information relating to shares held in the name of the Registered Holder |
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| No. of Shares held before the change |
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| As a percentage of issued share capital |
% |
| No. of Shares which are subject of this notice |
|
| As a percentage of issued share capital |
% |
| Amount of consideration (excluding brokerage and stamp duties) per share paid or received |
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| No. of Shares held after the change |
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| As a percentage of issued share capital |
% |
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| 1. |
Date of change of Interest |
02-06-2006 |
| 2. |
The change in the percentage level |
From 37.64 % To 26.02 % |
| 3. |
Circumstance(s) giving rise to the interest or change in interest |
# Others |
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# Please specify details |
Placement of 280,000,000 shares in the capital of Gallant Venture Ltd. ("Gallant Shares") by Parallax Venture Partners XXX Ltd ("PVP").
Parallax Capital Management Pte Ltd holds more than 50% of the voting share capital of Parallax Venture Fund XXX, which in turn holds more than 20% of the share capital of PVP. As such, Parallax Capital Management Pte Ltd is deemed to be interested in the Gallant Shares held by PVP. |
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| 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. |
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| 1. |
Holdings of Substantial Shareholder , including direct and deemed interest : |
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Direct
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Deemed
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| No. of shares held before the change |
0 |
907293350 |
| As a percentage of issued share capital |
0 % |
37.64 % |
| No. of shares held after the change |
0 |
627293350 |
| As a percentage of issued share capital |
0 % |
26.02 % |
| Footnotes |
Pursuant to a sale and purchase agreement entered into between Gallant Venture Ltd. and PVP, PVP acquired 907,293,350 Gallant Shares in April 2006.
The percentage level is calculated based on the total issued share capital of 2,410,423,184 shares. |
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