Notice Of Cessation Of Substantial Shareholding

Part I
1. Date of notice to issuer 07/08/2009
2. Name of Substantial Shareholder Thoresen Chartering (HK) Ltd.
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 Shareholding 07/08/2009
2. The change in the percentage level From 19.89 % To 0.00 %
3. Circumstance(s) giving rise to the interest or change in interest # Others

Off-market transfer of all shares of the Company held by Thoresen Chartering (HK) Ltd. to Soleado Holdings Pte. Ltd. Both transferor and transferee are wholly owned (100%) subsidiaries of Thoresen Thai Agencies Public Company Limited ("TTA"). The purpose of the transfer was to consolidate all TTA indirect shareholdings in the Company into a single new TTA subsidiary called Soleado Holdings Pte. Ltd. There was no change in the deemed interest of TTA arising from this transaction.
4. A statement of whether the change in the percentage level is the result of a transaction or a series of transactions: The change in percentage level is the 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 107,648,600 0.00
As a percentage of issued share capital 19.89 % 0.00 %
No. of shares held after the change 0 0
As a percentage of issued share capital 0.00 % 0.00 %
Footnotes Macquarie Securities (Singapore) Pte Limited was the Sole Global Coordinator, Bookrunner and Underwriter for, and Macquarie Securities (Asia) Pte Limited was the Issue Manager for, the initial public offering of the Company. This announcement has been prepared and released by the Company.