Exhibit 10.25
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The following is a fair and accurate English translation of the original
contract.
PURCHASE AGREEMENT
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between
Portmann Trading SA
Hongkong Bank Building
Panama
BUYER
and
UTG Communications Holding AG
Xxxxxxxxx. 00
0000 Xxx
SELLER
Since the beginning of 1997 UTG (Network) Ltd. has been active in providing
telecommunication services in Great Britain.
The Buyer purchases from the Seller all UTG (Network) Ltd. shares for a total
purchase price of SFr. 1,000.00 (one thousand francs).
The purchase price was paid in cash by the Seller upon signing of this
agreement, which is herewith acknowledged.
The Buyer confirms that he received from the Seller all existing contracts,
balance sheets and documents or has access to them. The Seller declares that
there are no pending court proceedings and that there are no liabilities other
than as stated on the balance sheet.
The Seller agrees to perform certain services for the Buyer on a mandate basis.
The transfer date is December 1, 1997 retroactively.
The Buyer agrees to change the name of the company no later than February 15,
1998 and to repay all outstanding loans of the Seller.
UTG Communications Holding XX Xxxxxxx Trading AG
going forward (UTG Telecom AG)
/s/ Xxxx Xxxxx /s/ Xxxxxx Xxxxxxxxxx
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X. Xxxxx X. Xxxxxxxxxx
