EXHIBIT 10.12 To: Liuzhou OVM Prestress Construction Co. Ltd. Pursuant to an agreement made between Liuzhou HVM Construction Machinery Co. Ltd. ("Liuzhou HVM") and Liuzhou OVM Joint Stock Company Limited (the "PRC Partner"), Liuzhou HVM agreed to...Ovm International Holding Corp • June 4th, 2002 • Construction machinery & equip
Pursuant to an agreement made between Liuzhou HVM Construction Machinery Co. Ltd. ("Liuzhou HVM") and Liuzhou OVM Joint Stock Company Limited (the "PRC Partner"), Liuzhou HVM agreed to transfer 69.3% equity interest in ("Construction Company") to the PRC Partner for consideration based on the fair value of the Construction Company, to be determined by an independent professional valuer, as of December 31, 2001. Accordingly, please arrange the engagement of Guangxi Zhengze Certified Public Accountants to perform the valuation as soon as possible.
