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Title: |
Sale and Purchase Agreement |
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Date: |
2004 |
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Preview shows 9KB of 53KB total |
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$47 |
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ID: |
#1240118 |
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DATED THE 16TH DAY OF OCTOBER 2003
JITTER BUG HOLDINGS LIMITED
(as "Vendor")
and
HUITUNG INVESTMENTS (BVI) LIMITED
(as "Purchaser")
and
NINETOWNS DIGITAL WORLD TRADE HOLDINGS LIMITED
-----------------------------------------------
SALE AND PURCHASE AGREEMENT
RELATING TO SHARES IN
NINETOWNS DIGITAL WORLD TRADE HOLDINGS LIMITED
(THE "COMPANY")
-----------------------------------------------
LI & PARTNERS
[Name in Chinese]
22/F., World Wide House, Central, Hong Kong
[Name in Chinese]
Tel\[Name in Chinese] :(852)2501 0088 Fax\[Name in Chinese] :(852)2501 0028
Our Ref :RL/GS/1710(1)/03
<PAGE>
TABLE OF CONTENTS
<TABLE>
<CAPTION>
Title Page No.
----- --------
<S> <C>
1. INTERPRETATION....................................................................................... 1
2. SALE AND PURCHASE OF THE SALE SHARES................................................................. 4
3. CONSIDERATION........................................................................................ 4
4. COMPLETION........................................................................................... 4
5. VENDOR'S UNDERTAKINGS................................................................................ 6
6. VENDOR'S WARRANTY OF PROFITS......................................................................... 6
7. PURCHASER'S RIGHTS................................................................................... 7
8. QUALIFIED IPO........................................................................................ 8
9. DIVIDEND POLICY ..................................................................................... 8
10. WARRANTIES, REPRESENTATIONS AND UNDERTAKINGS......................................................... 9
11. COSTS AND EXPENSES .................................................................................. 9
12. RESTRICTIONS ON COMMUNICATION AND ANNOUNCEMENTS...................................................... 9
13. NOTICES.............................................................................................. 10
14. GENERAL.............................................................................................. 12
15. SEVERANCE............................................................................................ 12
16. FORCE MAJEURE ....................................................................................... 12
17. PREVALENCE OF AGREEMENT.............................................................................. 13
18. LEGAL REPRESENTATION................................................................................. 13
19. GOVERNING LAW AND JURISDICTION....................................................................... 13
20. COUNTERPARTS ........................................................................................ 13
</TABLE>
SCHEDULE 1 -- PARTICULARS OF THE PRC SUBSIDIARIES
SCHEDULE 2 -- FORM OF SHAREHOLDERS' AGREEMENT
SCHEDULE 3 -- WARRANTIES, REPRESENTATIONS AND UNDERTAKINGS
i
<PAGE>
THIS AGREEMENT is made on the 16th day of October 2003.
BETWEEN:
(1) JITTER BUG HOLDINGS LIMITED, a company incorporated in the British Virgin
Islands, having its registered office at P.O. Box 957, Offshore
Incorporations Centre, Road Town, Tortola, British Virgin Islands ("the
VENDOR");
(2) HUITUNG INVESTMENTS (BVI) LIMITED, a company incorporated in the British
Virgin Islands, having its registered office at P.O. Box 3140, Road Town,
Tortola, British Virgin Islands (the "PURCHASER"); and
(3) NINETOWNS DIGITAL WORLD TRADE HOLDINGS LIMITED, a company incorporated in
the Cayman Islands with limited liability, having its registered office at
Century Yard, Cricket Square, Hutchins Drive, P.O. Box 2681 GT, George
Town, Grand Cayman, British West Indies, and its principal place of
business in Hong Kong at Units 2502-3 Worldwide House, 19 Des Voeux Road
Central, Hong Kong (the "COMPANY").
WHEREAS:
(a) The Company has, as at the date hereof, an authorized share capital of
HK$200,000,000 divided into 2,000,000,000 Shares of HK$0.10 each.
(b) Following the Initial Group Reorganization, the Company has an issued
share capital of HK$550,000, divided into 5,500,000 Shares of HK$0.10
each, all of which have been issued and credited as fully paid.
(c) As at the date hereof, the Vendor is the legal and beneficial owner, free
from all charges, liens and other encumbrances, of the Sale Shares.
(d) The Purchaser has agreed to purchase the Sale Shares from the Vendor on
the terms and subject to the conditions set out in this Agreement.
NOW IT IS HEREBY AGREED as follows:-
1. INTERPRETATION
1.1 In this Agreement, including the Recitals, the following expressions shall
have the following meanings except where the context otherwise requires -
"Articles" the articles of association of the
Company as the same may be amended from
time to time;
"Board" the board of directors of the Company;
1
<PAGE>
"Completion" the completion of the sale and purchase
of the Sale Shares pursuant to the
terms of this Agreement;
"Completion Date" any business days no later than
24 October 2003 (or such other date as
the parties hereto may agree in
writing);
"Directors" the directors for the time being of the
Company and "Director" means any of
them;
"Group" the Company and its subsidiaries;
"HK$" the lawful currency of HKSAR;
"HKSAR" Hong Kong Special Administrative Region
of the PRC;
"Initial Group Reorganization" the group reorganization involving the
Company entering into a sale and
purchase agreement with the Vendor,
pursuant to which the Company acquired
all the issued shares of Ixworth
Enterprises Limited (which is an
investment holding company holding the
PRC Subsidiaries) from the Vendor in
consideration of the Company issuing
5,499,999 consideration shares,
credited as fully paid, to the Vendor
and crediting as fully paid at par the
1 Share issued nil paid by the Company
to the Vendor on 7 May 2002;
"IPO" the initial public offering of the
Shares on the Main Board of the Stock
Exchange;
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