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News Release


Notice of a Director's (including a director who is a substantial shareholder) Interest and Change in Interest



Part 1
1. Date of notice to issuer * 14-06-2006
Name of Substantial Shareholder * HO KWONPING
Please tick one or more appropriate box(es): *
  • •Notice of a Director's (including a director who is a substantial shareholder) Interest and Change in Interest. [Please complete Part II and IV]
  • 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] 14-06-2006
    2. Name of Registered Holder HO KWONPING
    3. Circumstance(s) giving rise to the interest or change in interest


    # Please specify details
    # Others


    Vendor Shareholder at Initial Public Offering.
    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
    23,927,750


    3.74 %
    No. of N.A. which are subject of this notice


    As a percentage of issued share capital
    22,401,409


    3.54 %
    Amount of consideration (excluding brokerage and stamp duties) per share paid or received 0.97
    No. of N.A. held after the change


    As a percentage of issued share capital
    1,526,341


    0.20 %
    Part 3
    1. Date of change of Interest 14-06-2006
    2. The change in the percentage level From 46.43 % To 36.89 %
    3. Circumstance(s) giving rise to the interest or change in interest


    # Please specify details
    # Others


    Vendor Shareholder at Initial Public Offering ("IPO"); and decrease in deemed shareholding percentage due to the 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 23,927,750 297,259,192
    As a percentage of issued share capital 3.74 % 46.43 %
    No. of shares held after the change 1,526,341 276,706,019
    As a percentage of issued share capital 0.20 % 36.89 %
    Footnotes Mr Ho KwonPing is deemed to be interested in the respective shares of Banyan Tree Holdings Limited held by the following entities:

    1. TRL Investments Ltd ("TRLI"); due to Mr Ho's beneficial interest of 80% in Changfung Investments Ltd. TRLI holds 270,460,582 shares in Banyan Tree Holdings Limited. Due to the issue of new shares at the Initial Public Offering, TRLI's shareholding percentage decreased from 42.24% to 36.05%.

    2. Changfung Investments Ltd; due to Mr Ho's beneficial interest of 80% in Changfung Investments Ltd. Changfung Investments Ltd presently holds 149,157 shares (0.02%) in Banyan Tree Holdings Limited.

    3. Recourse Investments Ltd; due to Mr Ho's direct interest of 50% in Recourse Investments Ltd. Recourse Investments Ltd presently holds 6,096,280 shares (0.81%) in Banyan Tree Holdings Limited.

    4. Chang Fung Company Limited; due to Mr Ho's direct interest of 25.7% 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.

    5. Maypole Ltd.; due to his direct interest of 75% and 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.

    6. Tropical Resorts Management Co Ltd; due to his beneficial interest of 80% in Changfung Investments Ltd. Tropical Resorts Management Co Ltd was a Vendor at the IPO and has ceased to hold shares in Banyan Tree Holdings Limited.
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