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Notice Of Cessation Of Substantial Shareholding

BackMay 18, 2012
Part I
1. Date of notice to issuer 17/05/2012
2. Name of Substantial Shareholder Soare Siew Lian
3. Notice Type Notice of a Change in the Percentage Level of a Substantial Shareholder's Interest or Cessation of Interest.
Part II - Not Required
Part III
1. Date of change of Interest 17/05/2012
2. The change in the percentage level From 5.00 % To 4.83 %
3. Circumstance(s) giving rise to the interest or change in interest # Others

Dilution in shareholding percentage resulting from the issue of 3,891,051 new shares to Tan Chiun Wei in respect of the acquisition of Finessco Systems Pte Ltd.
4. A statement of whether the change in the percentage level is the result of a transaction or a series of transactions: A transaction
Part IV
1. Holdings of Substantial Shareholder, including direct and deemed interest :
 
  Direct Deemed
No. of shares held before the change 5,590,000 0
As a percentage of issued share capital 5.00 % 0 %
No. of shares held after the change 5,590,000 0
As a percentage of issued share capital 4.83 % 0 %
Footnotes (a) The percentage of issued share capital before the change is calculated based on 111,800,000 shares before the issue of 3,891,051 new shares.
(b) The percentage of issued share capital after the change is calculated based on 115,691,051 shares after the issue of 3,891,051 new shares.

This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor ("Sponsor"), Canaccord Genuity Singapore Pte. Ltd. (formerly known as Collins Stewart Pte. Limited) for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited ("SGX-ST"). Canaccord Genuity Singapore Pte. Ltd. has not independently verified the contents of this announcement.

This announcement has not been examined or approved by the SGX-ST and the SGX-ST assumes no responsibility for the contents of this announcement, including the correctness of any of the statements or opinions made, or reports contained in this announcement.

The contact person for the Sponsor is Mr. Alex Tan, Managing Director, Corporate Finance, Canaccord Genuity Singapore Pte. Ltd., at 77 Robinson Road #21-02 Singapore 068896, telephone (65) 6854-6160.