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News Release


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



Part 1
1. Date of notice to issuer * 14-06-2006
Name of Substantial Shareholder * HO KWONCJAN
Please tick one or more appropriate box(es): *
  • Notice of a Change in the Percentage Level of a Substantial Shareholder's Interest or Cessation of Interest. [Please complete Part III and IV]
  • Part 2
    1. Date of change of [Select Option]
    2. Name of Registered Holder
    3. Circumstance(s) giving rise to the interest or change in interest


    # Please specify details
    [Select Option]
    4. Information relating to shares held in the name of the Registered Holder
    No. of [Select Option] held before the change


    As a percentage of issued share capital
    %
    No. of N.A. 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
    No. of N.A. held after the change


    As a percentage of issued share capital
    %
    Part 3
    1. Date of change of Interest 14-06-2006
    2. The change in the percentage level From 45.26 % To 36.07 %
    3. Circumstance(s) giving rise to the interest or change in interest


    # Please specify details
    # Others


    Vendor Shareholder at the Initial Public Offering ("IPO") and decrease in deemed shareholding percentage due to issue of new shares pursuant to the IPO.
    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 series of transactions.
    Part 4
    1. Holdings of Substantial Shareholder , including direct and deemed interest :
    Direct Deemed
    No. of shares held before the change 18,979,078 289,765,706
    As a percentage of issued share capital 2.96 % 45.26 %
    No. of shares held after the change 16,192,051 270,609,739
    As a percentage of issued share capital 2.16 % 36.07 %
    Footnotes Mr Ho KwonCjan is deemed to be interested in the respective shares in Banyan Tree Holdings Limited held by the following entities:

    1. TRL Investments Ltd ("TRLI"); due to his beneficial interest of 20% in Changfung Investments Ltd. TRLI presently holds 270,460,582 shares in Banyan Tree Holdings Limited. Due to the issue of new shares pursuant to the IPO, TRLI's percentage shareholding decreased from 42.24% to 36.05%.

    2. Changfung Investments Ltd, due to his direct interest of 20% in Changfung Investments Ltd. Changfung Investments Ltd presently holds 149,157 shares (0.02%) in Banyan Tree Holdings Limited.

    3. Chang Fung Company Limited; due to his direct interest of 22.9% in Chang Fung Company Limited. Chang Fung Company Limited was a Vendor at the IPO and has ceased to hold shares in Banyan Tree Holdings Limited.

    4. Maypole Ltd.; due to his beneficial interest of 25% in Chang Fung Company Limited. Maypole Ltd. was a Vendor at the IPO and has ceased to hold shares in Banyan Tree Holdings Limited.

    5. Tropical Resorts Management Co Ltd ("TRMC"); due to his beneficial interest of 20% in Changfung Investments Ltd. TRMC was a Vendor at the IPO and has ceased to hold shares in Banyan Tree Holdings Limited.
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