Page 150 - SAR141018_Forterra AR 2013

FORTERRA
ANNUAL REPORT 2013
STATISTICS OF
UNITHOLDINGS
AS AT 10 MARCH 2014
148
4. (a) PAG Holdings Limited (“PAGHL”) has a direct controlling interest in Pacific Alliance Group
Limited (“PAGL”), which in turn has an indirect controlling interest in Pacific Alliance Asia
Opportunity Fund L.P. (the “Fund”) and thus each of PAGHL and PAGL has a deemed
interest in the 34,410,245 units of Forterra Trust held by the Fund. PAGL has a direct
controlling interest in Pacific Alliance Real Estate Limited (“PARE”), the fund manager
which is entitled to exercise control over the investment decisions of Pacific Alliance China
Land Limited (“PACL”), and therefore, each of PAGHL and PAGL, has a deemed interest in
Forterra Trust’s 11,759,917 units held by PACL.
(b) Pacific Alliance Group Asset Management Limited (“PAGAM”) is the General Partner of the
Fund. As such, PAGAM has a controlling interest in the Fund and therefore has a deemed
interest in Forterra Trust’s units held by the Fund.
(c) Pacific Alliance Investment Management Limited (“PAIM”) has a controlling interest in
PAGAM and has an indirect controlling interest in the Fund, therefore, it has a deemed
interest in Forterra Trust’s units held by the Fund.
(d) Castle Road Holdings Limited (“Castle”) is entitled to exercise or control the exercise of
more than 20% of the votes attached to PAGHL, therefore, it has an indirect controlling
interest in the Fund and an indirect controlling interest in PARE, the fund manager of PACL
and, a deemed interest in Forterra Trust’s units held by the Fund and PACL.
(e) Nerine Trust Company (BVI) Limited (“Nerine”) is entitled to exercise or control the exercise
of more than 20% of the votes attached to PAGHL, therefore, it has an indirect controlling
interest in the Fund and an indirect controlling interest in PARE, the fund manager of PACL,
and a deemed interest in Forterra Trust’s units held by the Fund and PACL.
(f) Mr. Gradel is the beneficiary of a Trust of which Nerine is the Trustee, which has an indirect
controlling interest in the Fund and an indirect controlling interest in PARE, the fund
manager of PACL, therefore, he has a deemed interest in Forterra Trust’s units helds by
the Fund and PACL.
(g) Roseworth Investments Limited (“Roseworth”) is entitled to exercise or control the exercise
of more than 20% of the votes attached to PAGHL, therefore, it has an indirect controlling
interest in the Fund and an indirect controlling interest in PARE, the fund manager of PACL,
and a deemed interest in Forterra Trust’s units held by the Fund and PACL.
(h) Mr. Shan controls Roseworth, therefore, he has an indirect controlling interest in the Fund
and an indirect controlling interest in PARE, the fund manager of PACL and, a deemed
interest in Forterra Trust’s units held by the Fund and PACL.
(i) Each of PAGL, PAGHL, PARE, PAGAM, PAIM, Castle, Nerine, Mr. Gradel, Roseworth and Mr.
Shan does not hold any interests in units in Forterra Trust other than through the Fund and
PACL.