*The agreement is conditional upon the
Company gaining shareholder approval and approval of ASX for the re-listing of the shares in the
Company.
*Given the scale of the opportunity afforded by e-pay, the Company will seek to
divest its existing W Home business to focus on growing the e-pay business.
*OGL directly or indirectly has a 60% stake in e-pay, a 72.7% stake in PT e-pay Indonesia, a
50% stake in e-pay Pakistan Private Ltd and a 49.5% stake in e-pay Thailand Co. Ltd and an
30% stake in Electronic Payment Network (Thailand) Co. Ltd.
*E-pay is now the dominant
player in the top-up industry, with approximately 10-15 percent of the market. It competes only
against legacy scratch-off cards, which the directors believe are quickly falling out of favor among
consumers, retailers and telecommunications companies, because scratch cards are inherently less
efficient, costlier and more difficult to track.
*e-pay’s cost of sales on e-Voucher and e-Top Up is about 97 percent. Because it actually buys the
airtime from various mobile telecommunications carriers and resells at a margin to its network of retail
customers, it must book the entire amount as revenue.
*The consolidated entity intends to seek to capture a significant portion of the growing prepaid reload
market in Malaysia, Indonesia, Pakistan and Thailand, and expand into new markets such as China,
Singapore, Vietnam and the Philippines. In many of these markets, scratch-off cards remain the only
means of top-up.
*Immediately following shareholder approval of the proposal, trading in the Company’s shares will be
suspended until the capital raising has occurred and the ASX re-listing requirements of Chapters 1 and
2 are met. The Company’s shares (which are presently suspended from trading on AIM) will remain
suspended on AIM until after completion of the purchase occurs, when re-admission of the
consolidated entity will be sought.
*If no moneys are raised from the placements and prospectus and all the Bonus Consideration is
payable to the Vendor at an issue price of 30 cents, the anticipated voting power percentage of Mr Loh
and his associates would be approximately 91%.
*Indicative Timetable
Shareholders meeting 17 November 2005
Prospectus issued 18 November 2005
Share offer opens 25 November 2005
Share offer closes 23 December 2005
Issue of new shares 5 January 2006
Completion of e-pay acquisition 6 January 2006
Re-admission to ASX & AIM* 12 January 2006
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