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Notice Of A Change In The Percentage Level Of A Substantial Shareholder's Interest - YTL Cayman Limited

BackAug 20, 2009
Part I
1. Date of notice to issuer 20/08/2009
2. Name of Substantial Shareholder YTL Cayman 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 Interest 18/08/2009
2. The change in the percentage level From 26.50 % To 28.90 %
3. Circumstance(s) giving rise to the interest or change in interest # Others

(i) Issue of 9,000,000 rights units to YTL Cayman Limited ("YTL Cayman") and 247,101,000 rights units to Starhill Global REIT Investments Limited ("SGRI") respectively, pursuant to the subscription of provisionally allotted rights units under the rights issue by Starhill Global Real Estate Investment Trust ("Starhill Global REIT") on the basis of 1 rights unit for every 1 existing unit held as at 5.00 p.m. on 21 July 2009 ("Rights Issue"); and

(ii) 45,638,000 nil-paid rights were acquired through open market purchases by SGRI during the nil-paid rights trading period. Upon the exercise of the 45,638,000 nil-paid rights, 45,638,000 rights units were issued to SGRI.

SGRI is wholly-owned by YTL Cayman.
4. A statement of whether the change in the percentage level is the result of a transaction or a series of transactions: The changes in percentage is a result of the issuance of 9,000,000 rights units to YTL Cayman and 292,739,000 rights units to SGRI pursuant to the Rights Issue on 18 August 2009.
Part IV
1. Holdings of Substantial Shareholder, including direct and deemed interest :
 
  Direct Deemed
No. of shares held before the change 0 256,101,000
As a percentage of issued share capital 0 % 26.50 %
No. of shares held after the change 0 557,840,000
As a percentage of issued share capital 0 % 28.90 %
Footnotes 1. The percentage unitholding held before the change is calculated based on Starhill Global REIT's total issued units of 966,361,087 units prior to the issuance of the rights units pursuant to the Rights Issue and rounded to 2 decimal places.

2. The percentage unitholding held after the change is calculated based on Starhill Global REIT's total issued units of 1,930,085,193 units as at 20 August 2009 and rounded to 2 decimal places.

3. Since the last notice of change in interest of substantial unitholders on 31 December 2008, 770,000 units in Starhill Global REIT were acquired by YTL Cayman Limited through a series of transactions from 6 January 2009 through 9 January 2009.

4. The 18,000,000 units in Starhill Global REIT held by YTL Cayman Limited are registered in the name of its nominee, Merrill Lynch (Singapore) Pte Ltd, and the remaining 539,840,000 units are held by Starhill Global REIT Investments Limited. YTL Cayman Limited is deemed to have an interest in the units by virtue of Sections 137A and 137B of the Securities and Futures Act, Chapter 289 read with Section 7 of the Companies Act, Chapter 50 of Singapore.

5. In this announcement, references to "shares" and "shareholder" are to be read as references to "units" and "unitholder" respectively.

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