SHARE PURCHASE AGREEMENT
Exhibit 4.43
This Share Purchase Agreement (this “Agreement”) is made as of April 1, 2011 by and between
Ku6 Media Company, Ltd., a limited liability company incorporated in the Cayman Islands (the
“Company”) and Xxxxxx Media Group Limited, a limited liability company incorporate in the British
Virgin Islands (the “Buyer”). The Buyer and the Company are hereinafter collectively referred to
as the “Parties” and each individually as a “Party.”
W I T N E S S E T H :
WHEREAS, the Company desires to issue and sell to the Buyer, and the Buyer desires to purchase
from the Company, certain Shares (as defined below), pursuant to the terms and subject to the
conditions set forth in this Agreement.
NOW, THEREFORE, in consideration of the promises and the mutual covenants and agreements
contained herein and intending to be legally bound hereby, the parties hereto agree to as follows:
ARTICLE 1
Definitions
Definitions
Section 1.01. Definitions. As used herein, the following terms have the following meanings:
“Business Day” means a day, other than Saturday, Sunday or other day on which commercial banks
in Shanghai, Hong Kong and New York are authorized or required by applicable law to close.
“Shares” means the ordinary shares of the Company, par value US$0.0005 each.
“Closing Date” means the date of the Closing.
ARTICLE 2
Purchase and Sale
Purchase and Sale
Section 2.01. Sale and Issuance of Shares. Subject to the terms and conditions of this
Agreement, the Buyer agrees to purchase from the Company at the Closing and the Company agrees to
sell and issue to the Buyer at the Closing certain Shares at a purchase price of US$50,000,000 in
the aggregate and US$0.0325 per Share. The total purchase price for the Shares shall be hereinafter
referred to as the “Purchase Price”.
Section 2.02. Closing. The closing (the “Closing”) of the purchase and sale of the Shares
hereunder shall take place at the Hong Kong office of Xxxxx Xxxx & Xxxxxxxx LLP, 18TH
Floor, Hong Xxxx Xxxx Xxxxxxxx, 0X Xxxxxx Xxxx, Xxxxxxx, Xxxx Xxxx as soon as possible but no later
than five Business Days after the satisfaction or waiver of the conditions set forth in Article 4,
or at other place and time as mutually agreed by the Company and the Buyer.
Section 2.03. Deliveries by the Buyer. At the Closing, the Buyer shall pay to the Company
the Purchase Price in immediately available funds by wire transfer to an account designated in
writing by the Company Three Business Days prior to the Closing Date.
Section 2.04. Deliveries by the Company. At the Closing, the Company shall deliver to the
Buyer the duly executed Share Certificates representing the Shares.
ARTICLE 3
Representations and Warranties of The Company
Representations and Warranties of The Company
The Company represents and warrants to the Buyer as of the date hereof that:
Section 3.01. Corporate Existence and Power. The Company is a company duly incorporated,
validly existing and in good standing under the laws of the Cayman Islands and has all corporate
powers and all material governmental licenses, authorizations, permits, consents and approvals
required to carry on its business as now conducted.
Section 3.02. Corporate Authorization. The execution, delivery and performance by the
Company of this Agreement and the consummation of the transactions contemplated hereby are within
the corporate powers of the Company and have been duly authorized by all necessary corporate action
on the part of the Company. This Agreement has been duly executed and delivered by the Company and
constitutes a legal, valid and binding agreement of the Company, enforceable
against it in accordance with the terms hereof and thereof, subject to applicable bankruptcy,
insolvency and similar laws affecting creditors’ rights generally.
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Section 3.03. Governmental Authorization. The execution, delivery and performance by the
Company of this Agreement and the consummation of the transactions contemplated hereby and thereby
require no approval or action by or filing with or notice to any governmental authority.
Section 3.04. Noncontravention. The execution, delivery and performance by the Company of
this Agreement and the consummation of the transactions contemplated hereby and thereby do not and
will not (i) violate the organizational documents of the Company, (ii) violate any applicable law,
government order, decree or judgment or (iii) require any consent or other action by any person
under, constitute a default under, or give rise to any right of termination, cancellation or
acceleration of any right or obligation of the Company.
Section 3.05. Valid Issuance of Shares. At the Closing, the Buyer will acquire good and
valid title to the Shares, which, when issued, sold and delivered in accordance with the terms
hereof for the consideration expressed herein, will be duly and validly issued, fully paid and
nonassessable and free of restrictions on transfer.
Section 3.06. Litigation. There is no action, suit, investigation or proceeding pending
against or, to the knowledge of the Company, threatened against or affecting the Company before any
arbitrator or any governmental authority which in any manner challenges or seeks to prevent,
enjoin, alter or materially delay the transactions contemplated by this Agreement.
ARTICLE 4
Conditions to Closing
Conditions to Closing
Section 4.01. Conditions to Obligation of the Buyer. The obligation of the Buyer to
consummate the Closing is subject to the satisfaction of the following conditions:
(a) Representations and Warranties. All representations and warranties of the Company
contained in Article 3 shall be true and accurate as of the date of this Agreement and as
of the Closing Date as though newly made on and as of the Closing Date.
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(b) Consents. The Company shall have obtained any and all consents, permits and
waivers necessary or appropriate for consummation of the transactions contemplated by this
Agreement, including without
limitation (x) the unanimous approvals by the independent directors of the Company
and (y) the approval by the Company’s shareholders in a duly convened shareholders
meeting, and all required authorizations, approvals or permits of any applicable
governmental authorities and the stock exchange where the ordinary shares of the Company
are listed.
(c) Share Certificate. The Purchaser shall have received a duly executed Share
Certificate.
(d) Secretary’s Certificate. The Company shall deliver to the Buyer on Closing a
certificate executed by the chairman of the board of directors of the Company certifying
the satisfaction of the above conditions.
ARTICLE 5
Miscellaneous
Miscellaneous
Section 5.01. Termination. This Agreement may be terminated at any time prior to the Closing
by mutual written agreement of the Company and the Buyer.
Section 5.02. Governing Law. This Agreement shall be governed by and construed in accordance
with the law of the State of New York, without regard to the conflicts of law rules of such
jurisdiction.
Section 5.03. Counterparts; Effectiveness. This Agreement may be signed in any number of
counterparts, each of which shall be an original, with the same effect as if the signatures thereto
and hereto were upon the same instrument. This Agreement shall become effective when each party
hereto shall have received a counterpart hereof signed by the other party hereto. Until and unless
each party has received a counterpart hereof signed by the other party hereto, this Agreement shall
have no effect and no party shall have any right or obligation hereunder (whether by virtue of any
other oral or written agreement or other communication).
Section 5.04. Expenses. All costs and expenses (including legal fees and expenses) incurred
by the Buyer in connection with this Agreement and the consummation of the transactions
contemplated hereby shall be borne by the Company. To the extent the Buyer has paid any such costs
or expenses, the Company shall promptly reimburse the Buyer.
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Section 5.05. Entire Agreement. This Agreement constitute the entire agreement between the
parties with respect to the subject matter of this
Agreement and supersedes all prior agreements and understandings, both oral and written,
between the parties with respect to the subject matter of this Agreement.
[Signature page follows]
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IN WITNESS WHEREOF, this Agreement has been duly executed by or on behalf of each of the
parties hereto as of the day first above written.
Xxxxxx Media Group Limited | ||||||
By: | ||||||
Name: | ||||||
Title: | ||||||
Ku6 Media Company, Ltd. | ||||||
By: | ||||||
Name: | ||||||
Title: |
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