10 day extension if BEP gets 50% Permitted Bids are exempted from the operation of the Plan. In summary, a Permitted Bid is a take-over
bid made by way of a take-over bid circular, which complies with the following provisions:
(a) It is made to all holders of voting shares of the Issuer of a particular class and for all
those voting shares.
(b) No voting shares can be taken up and paid for before the close of business on a date
which is not less than 60 days following the date of the take-over bid and unless more
than 50% of voting shares held by shareholders independent of the offeror are tendered
and not withdrawn.
(c) Voting shares may be tendered at any time up to the expiry date set out in (c) above and
may be withdrawn until taken up and paid for.
(d) If the condition described in (b) above is satisfied, there will be a public announcement of
that fact and the take-over bid will be open for a further period of 10 business days.
The Plan contains provisions designed to ensure that, if considered appropriate, the time for tendering to
two or more competing Permitted Bids will occur on the same date.