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Agreement made
this 24 day of October 2008 between Wuxi Angell., and Cashtech
Investment Limited (Cashtech).
WHEREAS, Wuxi
Angell, founded in December 4, 2002 by the Wuxi New District
Economic Commission approved, which is Sino-foreign joint ventures,
to register
at Wuxi New District Shuofang Industrial
Park
WHEREAS,
Cashtech Investment Limited registered at British Virgin Islands;
Register number: 578455; Legal representative: Zhiguo
Fu
WHEREAS, the
parties wish to initiate a formal relationship between themselves
by an investment of funds into Wuxi Angell by Cashtech Investment,
on the terms and conditions set forth herein.
NOW, THEREFORE,
it is agreed:
1.
Transfer Share and Price
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A.
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Wuxi Angell
transfer 55% shares to Cashtech.
|
|
B.
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Cashtech agrees
to purchase 55% shares from Wuxi Angell; Cashtech has 55% of Wuxi
Angell’s ownership.
|
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C.
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The
“Purchase Price” for the Purchased Shares shall be
Fifty million RMB (50,000,000RMB)
|
|
D.
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Wuxi Angell
ensure that Cashtech have their own independent right of the
transfer stocks. which have no pledge, guarantees; do not involved
in any disputes and litigation.
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A. At the
completion of this Agreement through the legal procedures, Cashtech
wire 25 million RMB converting US dollars to Wuxi Angell account.
(the date of the Exchange currency)
B.
About the rest of payment transfer, Cashtech pay
Wuxi Angell 2 million ABAT stock listed in US, according to
the transfer of shares designated name for registration.
3. Rights and
obligations of both s
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