Slide 19 of 46

Transaction Milestones

  • Finalise agreements and announce – November 2006 - completed

  • Geely EGM to form JV – December 2006 - completed

  • MBH EGM for whole transaction – January 2007 - completed

  • Shanghai government approval for formation of JV – February 2007 - completed

  • Funding of JV – Geely placing – February 2007 - completed

  • Business Licence from Shanghai government – completed

  • Geely EGM for equity transfer – completed

  • Shanghai government approval for equity transfer – June 2007

  • MBH allot shares and final issue of IPR – June 2007