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Notice Of A Director's (Including A Director Who Is A Substantial Shareholder) Interest And Change In Interest

BackJul 04, 2012
Part I
1. Date of notice to issuer 04/07/2012
2. Name of Director Lim Hwee Chiang
3. Notice Type Notice of a Director's (including a director who is a substantial shareholder) Interest and Change in Interest.
Part II
1. Date of change of Deemed Interest 04/07/2012
2. Name of Registered Holder JL Investment Group Limited
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"). Lim Hwee Chiang wholly owns JL Investment Group Limited.
4. Information relating to shares held in the name of the Registered Holder
 
No. of Shares held before the change 280,027,440
As a percentage of issued share capital 36.45 %
No. of Shares which are subject of this notice 31,360,000
As a percentage of issued share capital 4.08 %
Amount of consideration (excluding brokerage and stamp duties) per share paid or received 1.42
No. of Shares held after the change 248,667,440
As a percentage of issued share capital 32.37 %
Part III - Not Required
Part IV
1. Holdings of Director, including direct and deemed interest :
 
  Direct Deemed
No. of shares held before the change 4,651,660 281,127,440
As a percentage of issued share capital 0.61 % 36.59 %
No. of shares held after the change 4,651,660 249,767,440
As a percentage of issued share capital 0.61 % 32.51 %
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. After the Transaction, Mr Lim Hwee Chiang will hold a substantial stake of 33.11% (deemed and direct interests) in the Company and Cheung Kong (Holdings) Limited will hold a stake of 13.87% (deemed interests) in the Company. Together, the Vendors shall control a substantial stake of 46.98% (deemed and direct interests) in the Company 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.