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Dated 16 November 2006
AGREEMENT
for the sale and purchase
of certain shares in the capital of Dage Holdings
Limited
CMS Cameron McKenna LLP (Ref: DCD)
Mitre House
160 Aldersgate Street
London EC1A 4DD
T +44(0)20 7367 3000
F +44(0)20 7367 2000
Table of Contents
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1.
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Definitions and Interpretation
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8.
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Shares pending registration
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11.
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Governing law and jurisdiction
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THIS AGREEMENT is made the
16th day
of November 2006
BETWEEN:
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(1)
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JOHN GREASLEY of Kingsmead, Wicken Road, Leckhampstead,
Buckingham MK18 5PA (the "Seller" );
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(2)
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NORDSON CORPORATION, a corporation organised under the
laws of the State of Ohio, United States of America (the
"Purchaser" ); and
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(3)
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DAGE HOLDINGS LIMITED , a company registered in England
with company number 03385731 whose registered office is at Rabans
Lane, Aylesbury, Buckinghamshire, HP19 8RG (the "Company"
).
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RECITALS
As part of a transaction pursuant to which the Purchaser is to
acquire the entire issued share capital of the Company, the Seller
has agreed to sell the Shares to the Purchaser and the Purchaser
has agreed to purchase the Shares on and subject to the terms and
conditions of this Agreement.
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NOW IT IS AGREED as follows:
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1.
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Definitions and Interpretation
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"Business Day" means a day (other than a Saturday or
Sunday) when banks are open for business in the City of London;
"CA 85" means the Companies Act 1985 (as amended);
"Completion" means completion of the sale and purchase of
the Shares pursuant to this Agreement;
"Encumbrance" means any interest or equity of any person
(including any right to acquire, option or right of pre-emption or
conversion) or any mortgage, charge, pledge, lien, assignment,
hypothecation, security interest, title retention or any other
security agreement or arrangement, or any agreement to create any
of the above;
"Group" means collectively the Company and its
subsidiaries for the time being (and "Group Company" shall
be construed accordingly);
"Parties" means the Purchaser and the Seller (and
"Party" shall be construed accordingly);
"Purchaser’s Group" means any of the following from
time to time: the Purchaser, its subsidiaries and subsidiary
undertakings and any holding company or parent undertaking
(including each member of the Group) of the Purchaser and all other
subsidiaries and subsidiary undertakings of any holding company or
parent undertaking of the Purchaser and "member of the
Purchaser’s Group" will be construed accordingly;
"Shares" means 1 special share 1 of £1.00 and 1
special share 2 of £1.00 in the share capital of the Company;
and
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1.2
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The table of contents and headings and sub-headings are for
convenience only and shall not affect the construction of this
Agreement.
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1.3
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Unless the context otherwise requires, words denoting the
singular shall include the plural and vice versa, references to any
gender shall include all other genders and references to any person
shall include bodies corporate (wherever incorporated),
unincorporated associations, partnerships and statutory bodies as
well as any legal or natural person.
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1.4
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The words "other" , "include" and
"including" do not connote limitation in any way.
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1.5
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References to Recitals, clauses and sub-clauses are to
(respectively) recitals to, and clauses and sub-clauses of,
this Agreement.
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1.6
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References to any statute or statutory provision include, unless
the context otherwise requires, a reference to the statute or
statutory provision as modified, replaced or re-enacted and in
force from time to time prior to Completion and any subordinate
legislation made under the relevant statute or statutory provision
(as so modified, replaced or re-enacted) in force prior to
Completion;
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1.7
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References to a person includes a reference to any individual,
firm, company, corporation or other body corporate, government,
state or agency of a state or any unincorporated association, joint
venture or partnership (whether or not having a separate legal
personality);
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1.8
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Any reference to "writing" or "written" includes
any non-transitory form of visible reproduction of words.
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1.9
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The expressions "subsidiary" , "holding company" ,
"body corporate" , "parent undertaking" and
"subsidiary undertaking" bear the same meanings in this
Agreement as they respectively bear in the CA 85.
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2.1
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Subject to the terms of this Agreement, the Seller shall sell to
the Purchaser the Shares and the Purchaser shall purchase the
Shares accordingly with limited title guarantee.
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2.2
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The Shares shall be sold with the benefit of all rights
attaching to them as at the date of this Agreement, including all
dividends and distributions declared, paid or made by the Company
on or after the date of Completion.
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2.3
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The Seller covenants, in relation to the Shares, that he has,
and will at Completion have, the right to transfer the legal and
beneficial title to such Shares and that they are, and will at
Completion be, free from all Encumbrances other than the interests
of the Beneficial Holders referred to in clause 6.1.
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2.4
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The Seller waives all rights of pre-emption or similar rights
over any of the shares in the capital of the Company conferred on
him either by the articles of association of the Company or in any
other way.
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4.1
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Completion is conditional upon completion of the acquisition of
the entire issued share capital of the Company (save for the
Shares) by the Purchaser.
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4.2
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If the condition referred to in clause 4.1 above shall not have
been satisfied prior to the date falling five months from the date
of this Agreement, then this Agreement shall lapse and cease to
have effect and no Party shall have by claim against the other
Party, save that clauses 1, 10, 11 and 12 shall survive such
termination.
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4.3
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A completion meeting shall take place at the offices of CMS
Cameron McKenna LLP, London, immediately after fulfilment of the
condition set out in clause 4.1 or at such other place and/or time
as the Parties may agree in writing.
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4.4
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At Completion:
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4.4.1
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the Seller shall deliver to the Purchaser the following
documents:
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(a)
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a transfer of the Shares duly executed by the Seller in favour
of the Purchaser together with the relevant share certificates in
the name of the Seller (or an indemnity in respect of such
certificates in a form reasonably acceptable to the Purchaser);
and
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(b)
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any power of attorney under which this Agreement was executed on
behalf of the Seller; and
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the Purchaser shall (subject to the Seller having complied in
all respects with its obligations under clause 4.4.1 above) pay or
procure payment of the Consideration by way of electronic transfer
to the client account of the Seller’s solicitors held at
National Westminster Bank plc, 32 Cornmarket Street, Oxford with
account number 08512493 and sort code 54-21-23.
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4.5
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Notwithstanding Completion:
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4.5.1
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each provision of this Agreement (and any other document
referred to in it) not performed at or before Completion but which
remains capable of performance; and
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4.5.2
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all covenants and other undertakings contained in or entered
into
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