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Sofcom’s offer to Bluechiip’s shareholders will close on Friday 22 October 2010 unless minimum acceptance conditions are reached earlier. Sofcom’s shareholders will be asked to vote on the proposal, which is unanimously supported by directors of both companies. If Sofcom shareholders support the deal, Bluechiip shareholders will exchange their Bluechiip shares for Sofcom shares. Bluechiip shareholders will receive 9.35 Sofcom shares for each Bluechiip share that they hold. Sofcom will issue a total of 77,522,823 fully paid ordinary shares in the company to the shareholders of Bluechiip following a 10:1 share consolidation by Sofcom. The deal values Bluechiip Limited at $15.5 million.

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