EXHIBIT 10(oo)
Amendment to Share Purchase Agreement
between
Slavia Capital, o.c.p., a.s.
as Vendor
and
Euroweb International Corp.,
as Purchaser
To: Xx. Xxxxxx Xxxxx From: Xxxxx Szigiti
Company: Slavia Capital Company: EuroWeb Internet Service Provider
Fax: 000 0 00000000 Fax: 000 00 00 000
Dear Xx. Xxxxxx Xxxxx:
According to the Letter of Intent 4/b. point, Global Network Services had to be
debt free on the day of closing, which was July 12, 1999.
In the Share Purchase agreement 3.3. point, the USD 700,000 Purchase Price is
subject to adjustments and it shall be reduced by the amount equal to an
aggregate amount of the companies debt as of the date of the Closing Financial
Statements (annex 2).
Euroweb International Corporation has assigned an independent auditor company,
BDO sk, s.r.o. to review the financials of Global Network Services in order to
establish the amount of debt.
On 14 September, 1999, we have received the report of BDO SK, which showed a
debt of 4,991,489 Koruna as of the closing date, which is 112,682 USD.
Euroweb International Corporation has already transferred USD 600,000 from the
total purchase price of USD 700,000. Accordingly to the above calculation, the
final purchase price would be only USD 587,318. As Euroweb had paid more than
it should pay Xx. Xxxxx Xxxx suggests that you close the deal without paying
any further money to each other from any sides.
Please confirm whether you accept our proposal to Xx. Xxxxx Xxxx and me.
Yours sincerely,
Xxxxx Szigiti
Controller
AGREEMENT
made between
SLAVIA CAPITAL, o.c.p., a.s.
as Vendor
and
Euroweb Internatioanl Corporation
as Purchaser
The parties acknowledge that they signed a Share Purchase Agreement on July 12,
1999 in connection with the sales of certain part of Slavia Capital's shares
in the Company Global Network Services. In this agreement, the purchase price
is subject to adjustments on the basis of results of due diligence, which was
to be prepared by an independant auditor firm, BDO SK, s.r.o.
According to the share purchase agreement point 3.3 the parties agree that
they modify the cash component part of purchase price from US$ 700,000 to
US$ 600,000 (six hundred thousand American dollars) based on the due diligence
report that was delivered on September 14, 1999.
The date of this agreement is the closing date of cash component part of the
purchase price.
The parties also agree that the Purchase Price Payment Date - as specified in
the interpretation part of Share Purchase Agreement - is September 23, 1999.
Bratislava, September 20, 1999
Signed by:
Slavia Capital Euroweb International Corp.,
Slavia Capital. a.s., o.c.p.
Fax Cover Sheet
From: Xxxxx Xxxxxxx, General Director
To: Xxxxx Szigiti
Company: EuroWeb Internet Service Provider
Telephone: 000 00 00 000
Fax: 000 00 00 000
Pages: 1
Date: September 20, 1999
Comments:
Dear Xx. Xxxxxxx:
With regard to your facsimile transmitted September 20, 1999 and with regard to
the offer of Xx. Xxxxx Xxxx to close the deal between EuroWeb Internet Service
Provider and Slavia Capital regarding the sale of Global Network Services,
without paying any money to each other from any sides, on behalf of
Slavia Capital, I accept your offer.
With best regards,
Xx. Xxxxx Xxxxxxx
General Director
