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NOTICE OF RELEASE OF CERTAIN LOCK-UP RESTRICTIONS
MARCH 13, 2001
Pursuant to Section 8 of that certain Registration Rights Agreement
dated as of September 22, 1999, as amended (the "Agreement"), by and among NOVO
NETWORKS, INC. f/k/a eVENTURES GROUP, INC. (the "Company"), INFINITY INVESTORS
LIMITED, INFINITY EMERGING SUBSIDIARY LIMITED, IEO INVESTMENTS LIMITED
(collectively, the "Requesting Holders") and certain other stockholders listed
in the Agreement (the "Other Stockholders"), the Requesting Holders (who hold
more than fifty percent (50%) of the Registrable Shares) hereby release as of
March 17, 2001 from the Restriction (as hereinafter defined) three percent
(3.0%) of the Registrable Shares held of record by each Requesting Holder,
Other Stockholder and their Qualified Transferees (the "Released Shares").
Capitalized terms not defined in this Notice shall have the meaning set forth
in the Agreement.
Hence, the number of Released Shares for each Requesting Holder is as
follows:
Infinity Investors Limited 255,000
Infinity Emerging Subsidiary Limited 260,514
IEO Investments Limited 309,486
Total 825,000
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Except for the Released Shares, the remaining ninety-seven percent
(97.0%) of the Registrable Shares held by the Requesting Holders, Other
Stockholders and their Qualified Transferees will continue to be subject to the
restrictions prohibiting public sales thereof under Rule 144 prior to September
22, 2001 (the "Restriction").
The Requesting Holders reserve the right to release from the
Restriction, by written notice to the Company (similar to this Notice) from
time to time in the future, additional portions (or all) of the remaining
Registrable Shares.
The Company is hereby directed to immediately provide this Notice to
each Other Stockholder and each Qualified Transferee.
[signature page follows]
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INFINITY INVESTORS LIMITED
By: /s/ X.X. XXXXXXXX
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Name: X.X. Xxxxxxxx
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Title: Director
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INFINITY EMERGING SUBSIDIARY LIMITED
By: /s/ X.X. XXXXXX
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Name: X.X. Xxxxxx
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Title: Director
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IEO INVESTMENTS LIMITED
By: /s/ XXXXXX XXXXXXXX
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Name: Xxxxxx Xxxxxxxx
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Title: Director
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[signature page for Notice of Release of Certain Lock-Up Restrictions]
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