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

BackSep 14, 2007
Notice of a Change in the Percentage Level of a Substantial Shareholder's Interest *
* Asterisks denote mandatory information
 
Name of Announcer * PARKWAYLIFE REIT  
Company Registration No. N.A.  
Announcement submitted on behalf of PARKWAYLIFE REIT  
Announcement is submitted with respect to * PARKWAYLIFE REIT  
Announcement is submitted by * June Tay  
Designation * Company Secretary, Parkway Trust Management Limited (as manager of Parkway Life REIT)  
Date & Time of Broadcast 14-Sep-2007 17:10:48  
Announcement No. 00043  
 
 
>> Announcement Details
The details of the announcement start here ...
 
>> PART I
 
1. Date of notice to issuer * 14-09-2007  
 
2. Name of Substantial Shareholder * Newbridge Asia Genpar III, L.P. 
 
3. Please tick one or more appropriate box(es): *
 
  • Notice of a Change in the Percentage Level of a Substantial Shareholder's Interest or Cessation of Interest. [Please complete Part III and IV]
    •  
     
    >> PART II
     
    1. Date of change of [Select Option]  
     
    2. Name of Registered Holder  
     
    3. Circumstance(s) giving rise to the interest or change in interest [Select Option]  
      # Please specify details
       
     
    4. Information relating to shares held in the name of the Registered Holder
     
    No. of [Select Option] held before the change  
    As a percentage of issued share capital %
     
    No. of N.A. which are subject of this notice  
    As a percentage of issued share capital %
     
    Amount of consideration (excluding brokerage and stamp duties) per share paid or received  
     
    No. of N.A. held after the change  
    As a percentage of issued share capital %
     
     
    >> PART III
     
    1. Date of change of Deemed Interest 13-09-2007  
     
    2. The change in the percentage level From 46.8 % To 44.9 %
     
    3. Circumstance(s) giving rise to the interest or change in interest # Others  
      # Please specify details
    Deemed interest in TPG Parkway L.P. and TPG Parkway III, L.P. and associated with Parkway Investments Pte. Ltd.

    The changes arise from changes in Parkway Investments Pte. Ltd.'s interest in Parkway Life REIT.

    Pursuant to a unit lending agreement dated 7 August 2007, UBS AG, acting through its business group UBS Investment Bank ("UBS"), had borrowed an aggregate of 43,329,000 Units (the "Loaned Units") from Parkway Investments Pte Ltd ("Parkway Investments"), a wholly-owned subsidiary of Parkway Holdings Ltd. UBS has, in consultation with Citigroup Global Markets Singapore Pte. Ltd. (together with UBS, the "Underwriters"), exercised the over-allotment option (the "Over-allotment Option") granted by Parkway Investments to the Underwriters, to purchase from Parkway Investments an aggregate of 11,097,000 Units to cover the over-allotment of Units. UBS's obligation to re-deliver the Loaned Units is deemed to be discharged to the extent of the 11,097,000 Units in respect of which the Over-allotment Option has been exercised. The remainder of the 32,232,000 Units will be returned to Parkway investments by UBS.

    Following the completion of the above transactions, under Section 4 of the Securities and Futures Act Chapter 289 of Singapore, Newbridge Asia Advisors III, Inc. is deemed interested in 270,150,264 Units.
     
     
    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 the 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 0   281,247,264  
    As a percentage of issued share capital 0 % 46.8 %
    No. of shares held after the change 0   270,150,264  
    As a percentage of issued share capital 0 % 44.9 %
     
    Footnotes
    Note:

    1) Where reference is made to shares, it refers to the units in Parkway Life REIT.

    2) The percentage of issued units held is calculated based on 601,418,000 units in issue as at 23 August 2007.

    Citigroup Global Markets Singapore Pte. Ltd. and UBS AG, acting through its business group, UBS Investment Bank were the joint global co-ordinators, joint bookrunners and joint lead underwriters to the initial public offering of Parkway Life REIT.