Exhibit 2.1
AGREEMENT
February 27, 2004
Xxxxxx Corporation
Voium Technologies Ltd
Nations Corp Limited
Nations Investment Corp
Gentlemen:
The purpose of this letter is to evidence our agreement with respect to
the transaction involving Xxxxxx Corporation ("Xxxxxx"), Voium Technologies Ltd
("Voium"), Nations Corp Limited ("NCL"), Nations Investment Corp ("NIC"), China
Voice Corp ("CVC") and Integrated Performance Systems, Inc ("IPS").
The parties have agreed as follows:
(1) IPS will transfer its 48% ownership interest in Voium along with
1,000,000 shares of IPS common stock to CVC in exchange for 60% of the
outstanding stock of CVC, as per the list attached ("Annex A").
(2) The Voium shareholders representing Voium shareholders and others
collectively owning 52% of Voium will transfer their Voium shares to
CVC in exchange for 11.4% interest in CVC, as per Annex A.
(3) Xxxxxx will assign its exclusive interest in its VOIP license issued
by the Government of China and all related rights to CVC or a
subsidiary of CVC in exchange for a 28.6% interest in CVC.
(4) CVC will issue 50 million shares to IPS, the Voium shareholders, NCL,
NIC and Xxxxxx to be allocated as described in Annex A and subject to
the adjustment described in paragraph 5
(5) As soon as practically possible after the issuance of shares to IPS,
IPS shall distribute all of the CVC shares so issued to its common and
preferred shareholders (the "Spin Off"). IPS common shareholders shall
receive 1 CVC share for each common share of IPS and its voting
preferred shareholders shall receive 1 CVC share for each common share
voting equivalent, and estimated 30 million shares. The total number
of shares issued to IPS, the Voium shareholders, and Xxxxxx shall be
adjusted to preserve the ownership percentages set forth in paragraphs
1, 2 and 3.
(6) CVC shall initiate the process of becoming a fully reporting U.S.
public company as soon as is practically possible after the Spin Off
transaction is completed.
(7) This agreement shall be binding on all parties. IPS represents that it
can obtain the required shareholder approval for the Spin Off
transaction and all parties agree to execute such documents as may be
necessary to effectuate this agreement.
(8) This agreement shall be effective as of February 27, 2004.
/s/ D. Xxxxxx Xxxxx
---------------------------
D. Xxxxxx Xxxxx President
IPS President CVC
Agreed:
Xxxxxx Corporation By:/s/ Xxx Xxxxxxx
------------------------
Xxx Xxxxxxx
Voium Technologies Ltd By:/s/ Xx Xxxx Aik
------------------------
Xx Xxxx Aik
Nations Corp Limited By:/s/ Hin Hiong Khoo
------------------------
Hin Hiong Khoo
Nations Investment Corp By:/s/ Signature Illegible
------------------------
2
ANNEX A
Shareholder Distribution Agreed
----------- ------------ ------
Integrated Performance System, Inc. 30,000,000 /s/
--------------------
Nations Investment Corp 550,000 /s/
--------------------
Nations Corp Limited 1,000,000 /s/
--------------------
Xx Xxxx Aik 500,000 /s/
--------------------
Liaw Xxxx Xxxx 200,000 /s/
--------------------
Lim Han Boon 200,000 /s/
--------------------
Hin Hiong Khoo 1,000,000 /s/
--------------------
Xxx Xxxxxx @ Xxx Xxxx Xxxxx 300,000 /s/
--------------------
Shareholder Distribution Agreed
----------- ------------ ------
Integrated Performance System, Inc. 30,000,000 /s/
--------------------
Nations Investment Corp 550,000 /s/
--------------------
Nations Corp Limited 1,000,000 /s/
--------------------
Xx Xxxx Aik 500,000 /s/
--------------------
Liaw Xxxx Xxxx 200,000 /s/
--------------------
Lim Han Boon 200,000 /s/
--------------------
Hin Hiong Khoo 1,000,000 /s/
--------------------
Xxx Xxxxxx @ Xxx Xxxx Xxxxx 300,000 /s/
--------------------
Xxx Xxxx See 150,000 /s/
--------------------
Xxxxxx Corporation 14,300,000 /s/
--------------------
3
Shareholder Distribution Agreed
----------- ------------ ------
Nig Xxxx Aik 300,000 /s/
--------------------
Liaw Xxxx Xxxx 300,000 /s/
--------------------
Lim Han Boon 300,000 /s/
--------------------
Kings Lim 300,000 /s/
--------------------
Xxxxxxx Xxx 300,000 /s/
--------------------
Xxxxxx You 75,000 /s/
--------------------
Xxxxx Xxx Xxxx Xx 150,000 /s/
--------------------
Presvin Lim Xxxxx Xxxx 75,000 /s/
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