Exhibit 99.1
Conformed Copy
SHARE PURCHASE AGREEMENT No. VCR/E-01
Moscow, Russia November 12, 2002
This Share Purchase Agreement (this "Agreement") is entered into by and between
Open Joint Stock Company "VimpelCom-Region", organized and existing under the
laws of the Russian Federation with its registered office at 00 Xxxxxx 0-Xxxxx,
Xxxxxxxx 00, Xxxxxx, Xxxxxx (the "Issuer") and Eco Telecom Limited, a company
organized and existing under the laws of Gibraltar (the "Purchaser" and,
together with the Issuer, collectively, the "Parties"). The Parties hereby agree
as follows:
1. Subject of the Agreement
The Issuer agrees to sell, and the Purchaser agrees to purchase, 1,462 (One
Thousand Four Hundred Sixty Two) registered shares of common stock of the
Issuer, with a nominal value of 20 Rubles per share, registration No.
1-04-16038-N, registration date October 3, 2002 (the "Shares").
2. Obligations of the Parties and Incorporation of the Primary Agreement
by Reference
The purchase of the Shares, the payment for the Shares and the transfer of title
to the Shares shall be made according to the terms set forth in the Primary
Agreement dated as of May 30, 2001, as amended by Amendment No. 1 thereto dated
as of May 15, 2002, between the Issuer, the Purchaser, Telenor East Invest AS
and Open Joint Stock Company "Vimpel-Communications" (the "Primary Agreement").
The Primary Agreement is hereby incorporated into this Agreement by reference
and constitutes an inalienable part of this Agreement as if all the provisions
thereof, including, among others, all the substantial terms such as the price
for the Shares, procedure for payment of the Shares and transfer of title to the
Shares, were restated herein in full, except Section 2.02(a)(i), which shall not
be incorporated into this Agreement.
3. Share Transfer
Concurrently with the execution of this Agreement, the Issuer shall execute a
share transfer order (the "Transfer Order"), as established by Russian law and
required by the holder of the share registry of the Issuer (the "Registrar").
The Issuer shall deliver a duly executed Transfer Order to the Registrar in
order for the transfer of the Shares from the Issuer to the Purchaser to be
registered in the share registry of the Issuer.
4. Price
The Price of Shares' placement shall be US$40 000 (Forty Thousand US Dollars)
per share.
The total purchase price of the Shares shall be US$ 58,480,000 (Fifty Eight
Million Four Hundred Eighty Thousand US Dollars).
5. Settlements
All settlements under this Agreement shall be made in US dollars according to
the procedure established by Russian law. If Russian law prohibits making such
settlements in US dollars, all settlements shall be made in rubles at the
Central Bank of the Russian Federation exchange rate effective on the date prior
to the date of settlements.
1
6. Governing Law
This Agreement shall be governed by, and construed in accordance with, the laws
of the State of New York, United States of America without giving effect to any
conflicts of laws principles thereof which would result in the application of
the laws of another jurisdiction.
7. Arbitration
Any and all disputes and controversies arising under, relating to or in
connection with this Agreement shall be settled by arbitration as provided in
Section 15.11 of the Primary Agreement.
8. Counterparts and Language
This Agreement is being executed in seven originals, and the Parties agree that
in the event of a discrepancy between the English and the Russian language
versions, the English language version shall prevail.
9. Term
This Agreement shall be effective from the day of its execution by the Parties
and shall continue in full force and effect until the Parties have performed
their respective obligations.
IN WITNESS WHEREOF, this Share Purchase Agreement has been duly executed and
delivered by each Party hereto this 12/th/ day of November, 2002.
ISSUER
Open Joint Stock Company
"VimpelCom-Region"
By: /s/ Xxxxxx Xxxxxxxxx
..............................
Name: Xxxxxx Xxxxxxxxx
Title: General Director and CEO
By: /s/ Xxxxxxx Steshchenko
.............................
Name: Xxxxxxx Steshchenko
Title: Chief Accountant
PURCHASER
Eco Telecom Limited
By: /s/ Xxxxx Xxxxxxx
...............................
Name: Xxxxx Xxxxxxx
Title: Attorney-in-Fact
[RUSSIAN TRANSLATION INTENTIONALLY OMITTED]
