General Option of the Company. The Convertible Notes are redeemable at the option of the Company, in whole or in part, at any time on or after April 2, 2003, at a Redemption Price equal to the Accreted Value, plus any accrued and unpaid interest to the Redemption Date (subject to the right of Holders of record of the Convertible Notes on the relevant Regular Record Date to receive interest due on an Interest Payment Date that is on or prior to the Redemption Date); provided, however, that no such redemption may be made unless the closing price per Ordinary Share on the Singapore Exchange (translated into U.S. dollars at the Prevailing Exchange Rate on such Trading Day) or the ADSs on the Nasdaq National Market for any 20 Trading Days in a 30 consecutive Trading Day period ending not more than five days prior to the date on which notice of such redemption is given, is at least 125% of the Conversion Price (translated into U.S. dollars at the Fixed Exchange Rate) or of the Conversion Price per ADS (translated into U.S. dollars at the Fixed Exchange Rate and taking into account the current 10:1 Ordinary Share-to-ADS ratio), in each case as adjusted through, and effective on, such notice date. Notwithstanding the foregoing, the Company may redeem the Convertible Notes in whole but not in part, at a Redemption Price equal to the Accreted Value, plus accrued and unpaid interest to the Redemption Date if at anytime the aggregate principal amount of the Convertible Notes Outstanding is less than 5% of the aggregate principal amount of the Convertible Notes originally issued hereunder.
