| Part 1 | |
|---|---|
| 1. Date of notice to issuer * | 18-10-2006 |
| Name of Substantial Shareholder * | RECOURSE INVESTMENTS LTD. |
| Please tick one or more appropriate box(es): * | |
| 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 | 14-07-2006 |
| 2. The change in the percentage level | From 36.88 % To 36.31 % |
| 3. Circumstance(s) giving rise to the interest or change in interest # Please specify details |
# Others (1) Sale of our 96,280 ordinary shares in Banyan Tree Holdings Limited under the Over-allotment Options as described in the Prospectus dated 26/05/2006 in connection with the listing and quotation of ordinary shares of Banyan Tree Holdings Limited on the Mainboard of the SGX-ST on 14/06/2006, (2) sale of 149,157 ordinary shares in Banyan Tree Holdings Limited by Changfung Investments Ltd., now known as KAP Holdings Ltd. (of which Recourse Investments Ltd. is deemed to have an interest by virtue of its 80% shareholding in KAP Holdings Ltd.) under the said Over-allotment Options, and (3) issue of new ordinary shares pursuant to the said Over-allotment Options, resulting in decrease in shareholding percentage of TRL Investments Ltd in Banyan Tree Holdings Limited (Recourse Investments Ltd. is deemed to have an interest in the ordinary shares of TRL Investments Ltd in Banyan Tree Holdings Limited by virtue of its 80% shareholding in KAP Holdings Ltd., which has 48.8% shareholding in TRL Investments Ltd). |
| 4. A statement of whether the change in the percentage level is the result of a transaction or a series of transactions: | The change is the result of a series of transactions described above. |
| Part 4 | ||
|---|---|---|
| 1. Holdings of Substantial Shareholder , including direct and deemed interest : | ||
| Direct | Deemed | |
| No. of shares held before the change | 6,096,280 | 270,609,739 |
| As a percentage of issued share capital | 0.81 % | 36.07 % |
| No. of shares held after the change | 6,000,000 | 270,460,582 |
| As a percentage of issued share capital | 0.79 % | 35.52 % |