PREFERRED STOCK PURCHASE AGREEMENT (American Building Control Inc.)Preferred Stock Purchase Agreement • March 17th, 2003 • Victoria & Eagle Strategic Fund Cayman Island • Photographic equipment & supplies
This Preferred Stock Purchase Agreement (this "Agreement") is executed effective as of the 25/26 day of February, 2003, by and between Victoria & Eagle Strategic Fund, Cayman Island, c/o Victoria & Eagle Asset Management SA, via Nassa 44, CH -- 6900 Lugano, ("Purchaser"), and Myriam Hernandez, Eienweg 1, CH-4538 Oberbipp ("Seller"). 1. The parties hereby confirm the purchase and sale, effective as of the date hereof, of 65,118 shares of Series A 12% Cumulative Convertible Preferred Stock, represented by 2 share certificates of 32,559 preferred shares each, of American Building Control, Inc. (the "Company"), formerly Ultrak, Inc. (the "Shares"), at a total price equal to $1,000,000 (US Dollars one million) ("Purchase Price"). 2. Settlement of the purchase and sale of the Shares shall occur on the same business day of the date hereof (the "Settlement Date"). On the Settlement Date, (A) Purchaser shall transfer the aggregate Purchase Price for the shares in immediately available f
