EXHIBIT 10.38
Purchase contract
between
Revitasan Establishment as buyer
Xxxxxxxx 000
0000 Xxxxxxx
and
UTG Communications Belgium NV as seller
Xxxxxxxxxxxxx 000
0000 Xxxxxxx
Preamble
Die Multicom Communications NV , Xxxxxxxxxxxx 0, 0000 Xxxxxxx is presently
offering Telecom Services in Belgium since 1997. It is a known carrier for
serving the retail business.
1. The buyer acquires 2500 shares of Multicom Communications NV nom. 1000 BEF
for the total buying price of BFR 25.000.--(twenty five thousend BEF)
2. The selling price was paid at the time of the signature of this contract in
cash. The receipt of the amount is herewith confirmed.
3. The buyer confirms that he is aware and has received a copy of all existing
contracts, balancesheets as well as P/L account during the process of due
diligence. The Seller confirms that he is aware of any legal cases or
discussions if any, and that no other non balance sheets transactions are
existing.
4. The seller agrees to cooperate for the delivery of minutes as well as for
other work to be provided, to provde these under separate contracts or orders.
5. With the signature of this contract, the legal binding start will be the date
of the contract.
4
6. The Buyer has no obligation to change the company name.
7. If there are credits from Multicom to UTG Belgium or to the group companies
of UTG , all credits must be paid back within a reasonable time such as 6 month
after the signature of this contract.
UTG Belgium NV Revitasan Establishment
/s/ Xxxx Xxxxx /s/ X. Xxxxx
X. Xxxxx X. Xxxxx
Date 5.7.1999
