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Agreement
The
following agreement is reached by the shareholders of E Energy
Service GmbH during the course of the shareholders meeting on
12.01.2007
1.
We
resolve to increase capital to € 1.000.000, 00 (in
words: one million Euro)
The
new issued shares will be divided in such manner that
following the increase, ENERTRAG will hold 75.1 % and Dewind
Turbines Ltd. shares amount to 24.9 %.
The
shareholders further conclude to provide the company with a
cash injection of a further amount of € 4.000.000, 00 (in
words: four million Euro). The shareholders will provide the
company with these funds in a tax saving manner.
The
provision of the above mentioned cash injection of €
4.000.000, 00 (in words: four million Euro) will be executed
proportionally to the shares held by ENERTRAG (75.1%) and
DeWind (24.9%).
2.
Previous
liabilities of DeWind/ EU Energy Wind Ltd to E Energy Service
GmbH up until 31.12.2006 will be reckoned up against the long
term loan of DeWind GmbH.
The
sum of € 729.000,00 (in words: seven hundred twenty-nine
thousand Euro) of the so called Term Sheet Agreement between
EU Energy Ltd and ENERTRAG AG in accordance with fig. 1.1.1 of
the mentioned Term Sheet Agreement will equally be deducted
from the long term loan.
The
increase in capital / the provision of cash by DeWind Turbines
Ltd. will be financed by a loan of ENERTRAG and secured by the
following measures:
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The
„Cuxhaven Prototype D8.1 Turbine“(hereinafter the
“Cuxhaven turbine”), including all generated
earni
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