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

BackJul 04, 2012
Part I
1. Date of notice to issuer 04/07/2012
2. Name of Substantial Shareholder Cheung Kong (Holdings) Limited
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 Deemed Interest 04/07/2012
2. The change in the percentage level From 15.62 % To 13.87 %
3. Circumstance(s) giving rise to the interest or change in interest # Others

Sale of ARA Asset Management Limited's shares ("ARA Shares") through a private placement of shares (the "Transaction") by Cheung Kong Investment Company Limited and JL Investment Group Limited (the "Vendors"). Cheung Kong (Holdings) Limited wholly owns Cheung Kong Investment Company Limited.
4. A statement of whether the change in the percentage level is the result of a transaction or a series of transactions: Change is a result of a single transaction.
Part IV
1. Holdings of Substantial Shareholder, including direct and deemed interest :
 
  Direct Deemed
No. of shares held before the change 0 120,011,760
As a percentage of issued share capital 0 % 15.62 %
No. of shares held after the change 0 106,571,760
As a percentage of issued share capital 0 % 13.87 %
Footnotes The rationale of the Transaction, being the first sale of shares by the Vendors since the successful listing of ARA Asset Management Limited (the "Company") in November 2007, is to enhance the trading liquidity of ARA Shares and to meet investors' strong demand for ARA Shares. It also underpins the confidence of investors in the continued growth of the Company. The Company's assets under management has grown from S$0.6bn since its inception in 2003 to S$20.8bn as at March 2012. The Vendors continue to control a substantial stake in the Company of 46.98% (deemed and direct interests) and remain committed to growing the business of the Company.

The settlement of the Transaction is expected to take place on or about 9 July 2012, subject to the standard SGX-ST settlement of T+3 days.

The percentage figures shown above are calculated based on the total number of 768,319,189 issued ARA Shares.