| Part I |
| 1. |
Date of notice to issuer |
23/11/2009 |
| 2. |
Name of Director |
Mr. David Stewart Simpson |
| 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 Shareholding |
23/11/2009 |
| 2. |
Name of Registered Holder |
Mr. David Stewart Simpson |
| 3. |
Circumstance(s) giving rise to the interest or change in interest |
Right Issue
Subscription of 54,900 (all) pro-rata rights entitlements arising from Mermaid's renounceable underwritten rights issue of 243,542,403 rights shares at a price of SG$0.64 for each rights share on the basis of nine (9) rights shares for every twenty (20) existing ordinary shares in the capital of Mermaid. |
| 4. |
Information relating to shares held in the name of the Registered Holder |
| |
| No. of Shares held before the change |
122,000 |
| As a percentage of issued share capital |
0.0225 % |
| No. of Shares which are subject of this notice |
54,900 |
| As a percentage of issued share capital |
0.0101 % |
| Amount of consideration (excluding brokerage and stamp duties) per share paid or received |
0.64 |
| No. of Shares held after the change |
176,900 |
| As a percentage of issued share capital |
0.0326 % |
|
| Part III - Not Required |
| Part IV |
| 1. |
Holdings of Director, including direct and deemed interest : |
| |
| |
Direct |
Deemed |
| No. of shares held before the change |
122,000 |
0 |
| As a percentage of issued share capital |
0.0225 % |
0.00 % |
| No. of shares held after the change |
176,900 |
0 |
| As a percentage of issued share capital |
0.0225 % |
0.00 % |
| Footnotes |
1. The percentage computed before the change and which is also subject to this notice was based on 541,205,340 issued shares, being the total number of issued shares of Mermaid pre-rights issue as at 20 November 2009.
2. The percentage computed after the change was based on 784,747,743 issued shares, being the total number of issued shares of Mermaid post-rights issue as at 23 November 2009.
3. The net effect is that the change in interest only increases the number of shares held but does not result in a change to the percentage of issued share capital since the director subscribed to his full pro-rata rights entitlements under Mermaid's rights issue, and the total number of issued shares in Mermaid also increased on the same pro-rata basis as a result of Mermaid's rights issue.
4. This announcement supersedes and replaces Mermaid's previous announcement on the change of interests in the shareholdings of Mr. David Stewart Simpson arising from Mermaid's rights issue, as released earlier today. |
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