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

BackOct 17, 2008
Part I
1. Date of notice to issuer 13/10/2008
2. Name of Substantial Shareholder EDBV Management Pte 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 Interest 07/10/2008
2. The change in the percentage level From 6.5 % To 5.6 %
3. Circumstance(s) giving rise to the interest or change in interest # Others

Distribution in specie of a total of 15,941,782 shares by M-Commerce Ventures Pte Ltd ("MCV"), a shareholder of mDR Limited ("mDR") pursuant to members' voluntary liquidation of MCV as follows: -
(i) 1,677,691 shares on 25 September 2008 to CTI(H) Pte Lte, a member of MCV;
(ii) 1,677,691 shares on 25 September 2008 to Pacific Century Regional Developments Ltd, a member of MCV; and
(iii) 12,586,400 shares on 7 October 2008 to EDB Investments Pte Ltd, a member of MCV.

EDBV Management Pte Ltd ("EDBVM") is deemed to be a substantial shareholder of mDR through (i) MCV and (ii) PLE Investments Pte Ltd ("PLEI"). EDBVM is also the discretionary fund manager of MCV and PLEI.

This notification is in respect of the deemed interest of EDBVM in the shares in mDR.

(i) MCV is a shareholder of mDR. As a result of the distribution in specie by MCV, the shareholding percentage has changed from 1.4% to 0.5% (based on issued and paid up capital of 1,738,753,519 shares reflected in mDR's financial report 1st half 2008). EDBVM is deemed by virtue of Section 7(6)(d) of the Companies Act to be interested in the mDR shares as EDBVM is the discretionary fund manager of MCV.
(ii) PLEI is a substantial shareholder of mDR. Its shareholding percentage is 5.1% (based on issued and paid up capital of 1,738,753,519 shares reflected in mDR's financial report 1st half 2008). EDBVM is deemed by virtue of Section 7(6)(d) of the Companies Act to be interested in the said mDR shares held by PLEI as EDBVM is also the discretionary fund manager of PLEI.
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 series of transactions.
Part IV
1. Holdings of Substantial Shareholder, including direct and deemed interest :
 
  Direct Deemed
No. of shares held before the change 0 113,085,013
As a percentage of issued share capital 0 % 6.5 %
No. of shares held after the change 0 109,729,631
As a percentage of issued share capital 0 % 5.6 %