CONFORMED COPY
--------------
DATED 9 June 1997
-----------------
(1) DSL (OVERSEAS) LIMITED
(2) STRONTIAN HOLDINGS LIMITED
(3) GORANDEL TRADING LIMITED
(4) DEFENCE SYSTEMS LIMITED
(5) ALPHA-A LIMITED
TERMINATION AGREEMENT
of a
JOINT VENTURE AGREEMENT
relating to
GORANDEL TRADING LIMITED
Xxxxxxx Xxxxx Xxxxxxxxxxx
00 Xxxx Xxxx
Xxxxxx XX0X 0XX
Tel: 0000-000 0000
Fax: 0000-000 0000
THIS AGREEMENT is made on 9 June 1997
BETWEEN:-
(1) DSL (OVERSEAS) LIMITED a company incorporated and registered in Cyprus
(Registration no. 56708) whose registered office is at 00 Xxxxxxxxx Xxxxxx,
Xxxx Xxxxxxxx, Xxxxxxx, Xxxxxx ("DSL");
(2) STRONTIAN HOLDINGS LIMITED a company incorporated and registered in Cyprus
(Registration no. 56709) whose registered office is at 00 Xxxxxxxxx Xxxxxx,
Xxxx Xxxxxxxx, Xxxxxxx, Xxxxxx ("SHL");
(3) GORANDEL TRADING LIMITED a company incorporated and registered in Cyprus
(Registration no. 56442) whose registered office is at 00 Xxxxxxxxx Xxxxxx,
Xxxx Xxxxxxxx, Xxxxxxx, Xxxxxx ("the Company");
(4) DEFENCE SYSTEMS LIMITED a company incorporated and registered in England
(Registration no. 1540857) whose registered office is at 7th Floor, Egginton
House, 00-00 Xxxxxxxxxx Xxxx, Xxxxxx XX0X 0XX ("Defence Systems"); and
(5) ALPHA-A LIMITED a joint stock company incorporated and registered at the
Executive Committee of Kujbishevsky, Regional Council of People's Deputies in
Moscow on 24 October 1991 (Registration no. N6474) whose official address is at
105023, Xxxxxx, Xxxxxxxxxxxx Xxx., Xxxxxxxx 00 ("Xxxxx-X").
WHEREAS:-
(A) The parties to this Agreement are party to a Joint Venture Agreement dated
27 November 1993 relating to the Company ("the JV Agreement").
(B) The parties wish to be terminate the JV Agreement on the terms set out in
this Agreement.
IT IS NOW AGREED
1. Each of the parties hereby agrees that the JV Agreement shall be terminated
with immediate effect upon execution of this Agreement.
2. Each of the parties hereby irrevocably waives any rights, claims and
interests which any of them may have at the present or in the future under the
JV Agreement.
3. This Agreement may be executed in one or more counterparts and execution by
each of the parties of any of such counterparts will constitute due execution
of their Agreement.
4. This Agreement shall be governed by and construed in accordance with the
Laws of England and the parties hereby submit to the non-exclusive jurisdiction
of the Courts of England and Cyprus in connection with any dispute or claim
hereunder.
THIS AGREEMENT has been duly executed as a Deed on the date stated above.
- 2 -
EXECUTED as a Deed by )
DSL (OVERSEAS) LIMITED )
acting by:- ) XXXXXXX XXXXXXX
...................................
Director
XXXXXX XXXXXXXX
...................................
Director
EXECUTED as a Deed by )
STRONTIAN HOLDINGS LIMITED )
acting by its duly appointed )
attorney XXXXXXX GOLOVATOV:- ) XXXXXXX GOLOVATOV
...................................
Attorney
EXECUTED as a Deed by )
GORANDEL TRADING LIMITED )
acting by:- ) XXXXXXX XXXXXXX
...................................
Director
XXXXXXX GOLOVATOV
...................................
Director
- 3 -
EXECUTED as a Deed by )
DEFENCE SYSTEMS LIMITED )
acting by:- ) XXXXXXX XXXXXXX
...................................
Director
XXXXXX XXXXXXXX
...................................
Secretary
EXECUTED as a Deed by )
ALPHA-A LIMITED )
acting by:- ) XXXXXXX GOLOVATOV
...................................
Director
