spp announcement & no scale back, page-3

from the ann.

"Completion of the SPP will result in allotment of approximately 118 million new Blue Energy
ordinary shares. The actual number of shares to be issued is subject to final processing of
applications. Under the previously announced terms of the SPP, the shares will be issued at a
price of $0.1894 per share, being the 5 day volume weighted average price for the 5 trading
days up to and including 3 June 2009. The allotment of shares is expected to take place on
Friday, 12 June 2009."