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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The Shares shall be sold for the sum
of £2,000,000 payable in cash at Completion (the
“Consideration” ).
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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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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 r
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