News Release

Redemption Of "A" Preference Shares

The Board of Directors of Banyan Tree Holdings Limited (BTH/the Company) wishes to announce that BTH had on 14 June 2009 redeemed in cash all 301,108 "A" redeemable preference shares in the share capital of BTH ("A" Preference Shares) at a redemption amount for each "A" Preference Share equal to the par value of S$0.10 and a premium of S$10.00 (Redemption). The Redemption was made in accordance with the terms of the issue of the "A" Preference Shares stipulated in the Company's Articles of Association. The total amount paid for the Redemption of "A" Preference Shares was S$3,041,190.80. The "A" Preference Shares were held by Gold Sand Investments Ltd., Tropical Resorts Limited, Chang Fung Company Limited, Li-Ho Holdings (Private) Limited, Maypole Ltd. and Mr Ho KwonPing, the Executive Chairman of BTH.

As at the date of this announcement, following the Redemption, BTH's issued and paid-up share capital is S$199,994,894, comprising 761,402,280 ordinary shares.

The above transaction is not expected to have any material impact on the net tangible assets or earnings per share of BTH for the financial year ending 31 December 2009.

Mr Ariel Vera, Group Managing Director of BTH is also a director of Gold Sand Investments Ltd. and Tropical Resorts Limited. Mr Ho KwonPing and his immediate family members are deemed to have interests in the Redemption. Save as disclosed above, none of the Directors or controlling shareholders of BTH has any interest, direct or indirect, in the Redemption.

  • Jane Teah
  • Company Secretary
  • 15 June 2009