3Power Energy Group Inc (PSPW)

[StockHobit]

For purposes of consummating the Acquisition, PSP shall increase its authorized share capital to 200,000,000 shares prior to issuing shares in exchange for the interests of Seawind. Rudana Investment Group AG (“Rudana”), the majority shareholder of PSP, shall, prior to the closing of the Acquisition, contribute into the new PSP structure certain Hydro power projects described in the Term Sheet. At the closing of the Acquisition, Seawind shall tender all of the issued and outstanding shares of Seawind to PSP, and PSP shall issue to the owners of Seawind shares equal in amount to the number of shares owned by Rudana.