MAS IMPOSES COMPOSITION AMOUNT OF $4,500 ON KINGDON CAPITAL MANAGEMENT FOR FAILING TO NOTIFY THE SECURITIES EXCHANGE TRADING LIMITED [“SGX-ST”] OF CHANGES IN SUBSTANTIAL SHAREHOLDINGS

1  On 11 Aug 2006, Kingdon Capital Management [“KCM”] paid a composition amount of S$4,500 for breaching section 137 of the Securities and Futures Act, which requires substantial shareholders to notify the securities exchange of a change in shareholdings.

2  During the period 13 Dec 2004 to 1 Jun 2005, KCM failed to notify SGX-ST on three separate occasions of its deemed shareholding changes in Autron Corporation Limited [“Autron”] held through Kingdon Associates, Kingdon Family Partnership, L.P. and M. Kingdon Offshore Ltd. KCM also failed to notify Autron of its deemed shareholding changes. As a result, Autron was unable to disseminate the relevant information to the market as required under Rule 704(3) of the SGX Listing Manual.

Substantial shareholders should notify the securities exchange of changes in their shareholdings in a timely manner. This is necessary for the proper functioning of a fair, efficient and transparent market.