MEMORANDUM OF UNDERSTANDING
BETWEEN
XX. XXXX XXX XXXXXX AND THE SHAREHOLDERS OF SUPER SUCCESS
ELECTRONIC COMPANY LIMITED
AND
TAGALDER (2000) INCORPORATED
This is to confirm that Xx. Xxxx Xxx Xxxxxx and the shareholders of Super
Success Electronic Company Limited ("Changroup") agree to sell and Tagalder
(2000) Incorporated ("Tagalder") agrees to purchase 30% of the ownership of
Super Success Electronic Company Limited ("SS") under the following terms and
condidtions.
1. "SS" is a Hong Kong registered company:
Certificate No: 31496569-000-12-00-A
Address: Room 0000, 00/X., Xxxxxxxxx Xxxxx, 000 Xxxxxx Xxxx,
Xxxx Xxx, Xxxxxxx, Xxxx Xxxx
2. "SS" is owned by "Changroup"
3. "SS" is in the business of manufacturing/exporting electronic product.
4. The Price
As agreed by both parties, the evaluation of "SS" is C$2,550,000.00. The
purchase price of 30% of the ownership is fixed at C$765,000.00.
5. The Management
Both parties agree that Xxxxxxxx will elect one director to the board and
retain the current management of "SS" until further notice.
6. The Business
Both parties agree to further develop and expand the current core business
through corporate restructure and acquisition.
7. Payment
Both parties agree that Tagalder will issue common shares to pay for the
purchase.
The share price: C$0.17
Total new shares issued 4,500,000 shares
8. Official Approval
This Memorandum of Understanding is conditional upon the following official
Approval:
Tagalder's Board
Ontario Regulatory
Tagalder's Shareholders
9. Attachment
- Audited Financial Statements of Super Success Electronic Company Limited
- Certificate of Registration of Super Success Electronic Company Limited
- Business Executive Summary
- Evaluation
10. The Memorandum of Understanding is signed on March 28, 2001 by:
/s/ Xx. Xxxx Xxx Xxxxxx /s/ Tagalder (2000) Incorporated
_______________________ ________________________________
Xx. Xxxx Xxx Xxxxxx Tagalder (2000) Incorporated
Chairman
Date: March 28, 2001 Date: March 28, 2001
