<PAGE> 1
EXHIBIT 2.1
DATED 8th March 1999
(1) M.L. TEMPLE and A.R. TEMPLE
(2) HUGO INTERNATIONAL LIMITED
(3) D.W. FODEN ESQ.
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AGREEMENT FOR THE SALE AND PURCHASE
OF THE ASSETS AND BUSINESS
OF PRO-COMM RADIO COMMUNICATIONS
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IRELANDS
Commercial Lawyers
Anderson House Chambers
18 Mulfords Hill
TADLEY
RG26 3JE
<PAGE> 2
CONTENTS
Clauses
<TABLE>
<S> <C>
1 Definitions
2 Sale and Purchase of the Business
3 Excluded Assets and Liabilities
4 VAT
5 Prepayments
6 Conduct of the Business
7 Standing Orders and Payments Received
8 Risk/Insurance
9 Completion
10 The Stocks
11 Employees
12 Contracts
13 Creditors and Liabilities
14 Consultancy
15 Inspection of Documents
16 Complaints by Customers
17 Warranties
18 Restrictions on Vendors
19 Confidential Information
20 Interest
21 Costs/Stamp Duty
22 Further Assurance
23 Assignment
24 Announcement
25 Miscellaneous
26 Notices
</TABLE>
SCHEDULES
<TABLE>
<S> <C>
1st Particulars of the Contracts
2nd Transferring Employees
3rd Particulars of Equipment
4th The Stocks
5th Warranties
6th The Rental Fleet
</TABLE>
<PAGE> 3
THIS DEED OF AGREEMENT is made the 8th day of March 1999
BETWEEN:
<TABLE>
<S> <C>
(1) MARK LAWRENCE TEMPLE of l0a Coultas Road Hiltingbury Chandlers
Ford Hampshire SO53 5BD and ANDREW ROBERT TEMPLE of 77 Park
Road Chandlers Ford Hampshire SO53 2EL ("the Vendors")
(2) HUGO INTERNATIONAL LIMITED (registered in England no.
02757256) whose registered office is at 122A Nelson Road
Whitton Twickenham Middlesex TW2 7AY ("the Purchaser") and
(3) DAVID WILLIAM FODEN of 39 Heathermount Drive Crowthorne
Berkshire RG45 6HJ ("Mr Foden")
</TABLE>
NOW IT IS AGREED as follows:
1. DEFINITIONS
1.1. In this agreement the following words and expressions have the
following meanings unless inconsistent with the context:
1.1.1. 'the Assets' means all the assets property and rights of
the Business to be sold to the Purchaser pursuant to
clause 2.1 of this agreement;
1.1.2. "the Bank Account" means the Vendors' bank account with
Midland Bank plc entitled Messrs M L and A R Temple
trading as Pro-comm Radio Communications and numbered
7131557;
1.1.3. 'the Book Debts' means all book and other debts accrued or
accruing due to the Vendors in respect of the Business as
at the Transfer Date;
1.1.4. 'the Business' means the business of the sale and hire of
wireless communication equipment the installation and
maintenance of such equipment and the provision of airtime
for wireless communication equipment carried on by the
Vendors at the Transfer Date;
1.1.5. 'Contracts' means the contracts and engagements of the
Vendors entered into in the course of the Business which
remain to be performed (in whole or in part) by the
Vendors (other than in relation to warranty or guarantee
obligations) at the Transfer Date as listed in the First
Schedule together with any other such contracts listed in
the Disclosure Letter but excluding contracts with
employees;
<PAGE> 4
1.1.6. 'Completion' means the performance by the Parties of their
respective obligations under clause 9;
1.1.7. 'the Disclosure Letter' means the letter bearing the same
date as this agreement (including the documents appended
to it) written by the Vendors to the Purchaser and
qualifying the Warranties;
1.1.8. 'the Transferring Employees' means the persons engaged in
the Business at the Transfer Date whose names are listed
in the Second Schedule;
1.1.9. 'the Excluded Employees' means the employees employed by
the Vendors who are not Transferring Employees;
1.1.10. 'the Equipment' means the equipment and loose tools owned
and/or used by the Vendors in the Business at the Transfer
Date including those items described in the Third
Schedule;
1.1.11. 'Excluded Assets' means all the assets listed or mentioned
in clause 3;
1.1.12. 'the Goodwill' means the goodwill of the Vendors in
connection with the Business and the exclusive right for
the Purchaser or its assignee to use the name Pro-comm
Radio Communications and any logo or trade mark (whether
registered or not) relating to such name and the exclusive
right to use the name "Pro-comm Radio Rentals Limited" and
to represent itself as carrying on the Business in
succession to the Vendors including the benefit of all
pending contracts orders and engagements and the right to
all lists of customers and suppliers of the Business;
1.1.13. 'Rental Fleet' means the portable radio transceivers
listed in the Sixth Schedule hereto;
1.1.14. 'Know-how' means all information (including that comprised
in or derived from date disks tapes manuals source codes
flow-charts catalogues and instructions) relating to the
Business and the services provided or Products sold or
hired by the Business;
1.1.15. 'Liabilities' means the liabilities of the Business
outstanding at the Transfer Date (save for those
liabilities which the Purchaser shall have expressly
agreed to assume or be responsible for);
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<PAGE> 5
1.1.16. 'the Parties' means the Vendors and the Purchaser;
1.1.17. 'the Purchaser's Solicitors' means Messrs Irelands;
1.1.18. 'the Regulations' means the Transfer of Undertakings
(Protection of Employment) Regulations 1981;
1.1.19. 'the Stocks' means the stock-in-trade of the Business at
the Transfer Date being the items at the values noted in
the Fourth Schedule;
1.1.20. 'Taxation' includes (without limitation) corporation tax
income tax capital gains tax value added tax capital duty
national insurance customs and other import duties stamp
duty stamp duty reserve tax capital transfer tax
inheritance tax betterment levy and all other taxes of
whatever nature and any payment whatever which the Vendors
may be or become bound to make to any person as a result
of the operation of any enactment relating to taxation and
all penalties charges and interest relating to any claim
or assessment for taxation levied assessed or imposed by
governmental (whether central or local) authorities and
other agencies or bodies having lawful authority in
whatever country so to do irrespective of whether the
liability for such taxation or other payment falls on the
Vendors as a primary obligation or as a secondary
obligation on account of any failure by any other person
to discharge a liability to taxation or make any such
other payment and any amount claimed by any person from
the Vendors pursuant to a statutory right of recovery
following an assessment being made on such person;
1.1.21. 'the Transfer Date' means the close of business on 15th
March 1999;
1.1.22. 'the Vendor's Solicitors' means Messrs Eric Robinson & Co;
1.1.23. 'the Warranties' means the warranties representations and
undertakings set out in the Fifth Schedule;
1.2. Reference to any statute or statutory provision includes a reference
to:
1.2.1. that statute or statutory provision as from time to time
amended, extended or re-enacted or consolidated; and
1.2.2. all statutory instruments or orders made pursuant to it.
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1.3. Words denoting the singular number only shall include the plural and
vice versa. Words denoting any gender include all genders and words
denoting persons shall include firms and corporations and vice versa.
1.4. Unless the context otherwise requires reference to any clause
sub-clause or schedule is to a clause sub-clause or schedule (as the
case may be) of or to this agreement.
1.5. The headings in this document are inserted for convenience only and
shall not affect the construction or interpretation of this agreement.
2. SALE AND PURCHASE OF THE BUSINESS
2.1. Subject to the provisions of this agreement the Vendors shall sell with
full title guarantee and the Purchaser relying inter alia on the
Warranties shall purchase free from all charges liens equities and
incumbrances with effect from the Transfer Date the Business as a going
concern comprising the following assets of the Vendors used in the
conduct of the Business for the following sums
2.1.1. the Goodwill for the sum of pound sterling 565,697.00;
2.1.2. the Equipment for the sum of pound sterling 10,350.00;
2.1.3. the Stocks for their value as at the Transfer Date to be
determined pursuant to clause 10;
2.1.4. the benefit subject to the burden of the Contracts for the
sum of pound sterling 1.00;
2.1.5. the Rental Fleet for the sum of pound sterling 10,000.00;
2.1.6. all lists data particulars of suppliers particulars of
clients and customers (and records relating to clients and
customers) sales records (excluding sales invoices) stock
records customer orders customer satisfaction forms price
lists catalogues sales literature and publicity material
of the Business and all other documents relating to the
Business as the Purchaser may reasonably require to enable
it effectively to carry on the same in succession to the
Vendors for the sum of pound sterling 1; and
2.1.7. all rights and claims of the Vendors against third parties
(including without limitation all rights in connection
with such third parties' guarantees
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<PAGE> 7
conditions indemnities warranties and representations)
with respect to the Business so far as the Vendors can
assign the same for the sum of pound sterling 1.
2.2. The consideration for the sale by the Vendors of the Business and
Assets shall be the sum of pound sterling 586,050.00 and the value of
the Stocks.
2.3. The consideration shall be paid:
2.3.1. as to pound sterling 411,050.00 upon Completion by way of
a Chaps transfer to the Client Account of the Vendors'
solicitors;
2.3.2. as to the value of the Stocks by the Purchaser's cheque as
soon as the value of the Stocks has been calculated
pursuant to clause 10; and
2.3.3. as to pound sterling 175,000.00 by way of 35 monthly
payments of pound sterling 5,000 commencing on 15th June
1999 and payable on the 15th day of each calendar month
thereafter.
2.4. The Purchaser shall pay to the Vendors interest in the sum of pound
sterling 13,125.00 on the said sum of pound sterling 175,000.00 payable
by monthly payments of pound sterling 375.00 and on the same days as
payments fall due to the Vendors pursuant to clause 2.3.4.
2.5. Without limitation on the quantum of any claim of the Purchaser against
the Vendors if the Purchaser has some claim against the Vendors arising
from some breach on the part of the Vendors of the terms of this
Agreement (including without limitation (but subject to the terms of
clause 17.8) some breach of the Warranties but some non-observance of
or non-performance by the Vendors of clauses 7.7 or 7.9 or then the
following provisions shall apply:
2.5.1. the Purchaser shall not make any payments to the Vendors
(save as hereinafter provided) pursuant to clauses 2.3.4
and 2.4 but shall instead pay the payments which would
other than for the provisions of this clause be payable
pursuant to those clauses on the due dates for payment
into a deposit account with the banker's for the time
being of the Purchaser's Solicitors opened by and in the
names of the Vendors' Solicitors and the Purchaser's
Solicitors for the purposes of this clause 2.5 as a
designated deposit account entitled "re: Messrs Temple and
Hugo International";
2.5.2. the balance (including interest) from time to time
standing to the credit of the Deposit Account shall be
used first in or towards settling any claim of the
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<PAGE> 8
Purchaser against the Vendors (whether such settlement
shall be agreed or ordered by the Court); secondly in or
towards settling the Purchaser's costs in respect of any
claim (whether payment of such costs shall be agreed or
ordered by the Court); and thirdly in payment to the
Vendors after the settlement of any claim of the Purchaser
as aforesaid;
2.5.3. each sum paid by the Purchaser into the Deposit Account
shall be deemed to be a performance by the Purchaser of
the terms of clauses 2.3.4 or 2.4 as appropriate.
2.5.4. upon settlement of a claim by the Purchaser against the
Vendors being agreed or upon a final order being made by
the Court in respect of such a claim the parties shall
forthwith give written instructions to the Vendors'
Solicitors and the Purchaser's Solicitors to close the
Deposit Account and to pay the balance (including
interest) standing to the credit of the Deposit Account at
the time it is closed in accordance with clause 2.5.2;
2.5.5. unless payment out from the Deposit Account does not
satisfy in full either the settlement of a claim by the
Purchaser which is agreed or the terms of a final order of
the Court in respect of such claim the Purchaser shall on
the next date for payment following the Deposit Account
being closed commence making monthly payments due to the
Vendors pursuant to clauses 2.3.4 and 2.4; and
2.5.6. if payment out from the Deposit Account does not satisfy
in full either the settlement of a claim by the Purchaser
which is agreed or the terms of a final order of the Court
in respect of such claim so that in respect of such claim
there is money or damages or costs due from the Vendors to
the Purchaser after such payment out the Vendors shall not
be entitled to any further payment pursuant to clauses
2.3.4 or 2.4 until or unless such remaining liability is
satisfied.
2.6. The Parties agree that the provisions of clause 2.5 shall not apply to
the nonobservance or the non-performance by the Vendors of the terms of
clauses 7.4 or 7.6 and upon any such non-observance or non-performance
(but without limitation on any claim by the Purchaser in respect of the
same) the Vendors shall not be entitled to any payment
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<PAGE> 9
pursuant to clauses 2.3.4 and 2.4 until the payment pursuant to clauses
2.3.4 and 2.4 next following the Vendors remedying any non-observance
or non-performance of the terms of clauses 7.7 or 7.9.
2.7. Until such times as the Purchaser shall have paid the said sum of pound
sterling 175,000.00 pursuant to clause 2.3.4 and the interest thereon
pursuant to clause 2.4 the Purchaser and Mr Foden undertake with the
Vendors that loans made by Mr Foden to the Purchaser to the sum of
pound sterling 307,000.00 shall not be repaid by the Purchaser to Mr
Foden.
3. EXCLUDED ASSETS AND LIABILITIES
There shall be excluded from the sale and purchase of the Business and
retained by the Vendors:
3.1. the Book Debts together with all cheques bills notes and securities
receivable for the same;
3.2. any amounts recoverable by the Vendors in respect of Taxation paid or
payable by the Vendors in connection with matters or events occurring
on or before the Transfer Date;
3.3. subject as provided for in clauses 6 and 7 all cash in hand or at the
Vendors' bank
3.4. the Liabilities;
3.5. the benefit of any VAT allowances and repayments arising prior to the
Transfer Date in relation to the Business;
3.6. all other assets of the Business unless otherwise provided for in this
Agreement; and
3.7. any liability arising from goods or services supplied prior to the
Transfer Date.
4. VAT
4.1. The Parties intend that the Value Added Tax Act 1994 Section 49
('Section 49') and the Value Added Tax (Special Provisions) Order 1995
Article 5 as amended ('Article 5') shall apply to the transfer of the
Business and:
4.1.1. the Parties shall use all reasonable endeavours to secure
that pursuant to Section 49 and Article 5 the sale of the
Business is treated as neither a supply
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<PAGE> 10
of goods nor a supply of services for the purposes of VAT
and the Vendors and the Purchaser shall agree the form of
a letter to be sent by the Vendors to HM Customs and
Excise before the Transfer Date seeking confirmation that
the sale of the Business is to be so treated;
4.1.2. the Vendors and the Purchaser shall agree a form of letter
to be sent by the Vendors to HM Customs and Excise seeking
confirmation that the Vendors be permitted to keep and
preserve the records referred to in Section 49 relating to
the period prior to completion for such periods as may be
required by law; and
4.1.3. the Parties warrant to each other that they are and will
at Completion be duly registered for the purposes of VAT.
4.2. In the event that VAT is chargeable on the transfer of any of the
Assets pursuant to this agreement then subject to the receipt by the
Purchaser of a valid VAT invoice or invoices relating to such Assets
the Purchaser shall pay to the Vendors (in addition to the
consideration referred to in clause 2.1) an amount equal to the amount
of VAT payable in respect of the same together with any penalty or
interest incurred for late payment of such tax.
5. PREPAYMENTS
Prepayments and payments in advance made to the Vendors on or before
the Transfer Date in respect of goods or services to be supplied by the
Purchaser after the Transfer Date shall be payable by the Vendors to the
Purchaser.
6. CONDUCT OF THE BUSINESS
6.1. The Vendors shall carry on the Business as a going concern and
prudently and in an efficient and business-like manner from the date of
this agreement to the date of Completion and during such period shall:
6.1.1. not sell or dispose of any of the Assets or remove any
physical part of the Assets save for the sale of Stocks in
the course of normal day to day trading;
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<PAGE> 11
6.1.2. use their best endeavours to maintain the trade and trade
connections of the Business and shall not by any action
omission default or neglect knowingly damage or risk
damage to the same;
6.1.3. settle the debts incurred by it in the course of the
Business including (without limitation) salaries wages and
other emoluments payable to the employees of the Business;
6.1.4. not enter into any material contract or incur capital
expenditure (other than as disclosed in writing to the
Purchaser prior to the date of this Agreement or except
with the prior written consent of the Purchaser or at its
request);
6.1.5. not in any way depart from the ordinary course of the
day-to-day conduct of the Business either as regards the
scope or the manner of conducting the same;
6.1.6. not enter into any unusual or abnormal contract or
commitment which is material to the Business;
6.1.7. not grant or create or agree to grant or create any
mortgage charge debenture or other incumbrance over of
affecting any of the Assets;
6.1.8. not take on any new employee nor terminate the employment
of any of the Transferring Employees nor make any change
in the terms and conditions of employment of the
Transferring Employees without the prior written consent
of the Purchaser;
6.1.9. not permit any of its insurances to lapse or do or omit to
do any thing which would make any policy of insurance void
or voidable; and
6.1.10. pay into the Bank Account all sums received for or on
account of any goods or services to be provided by the
Business on or after the Transfer Date.
6.2. The Purchaser shall take over the Business with effect from the
Transfer Date and shall assume responsibility for the management of the
Business in all respects.
6.3. The Vendors shall procure that between the date of this agreement and
Completion the Purchaser and its agents representatives and advisers
will be given full access at all reasonable times on giving reasonable
notice to:
6.3.1. the Transferring Employees; and
6.3.2. all records of the Business.
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7. INVOICES PAYMENTS AND STANDING ORDERS
7.1. At completion the Vendors shall hand over:
7.1.1. a statement (listing by customer name invoice number date
of invoice and total of invoice) of all those invoices
rendered by the Vendors for the provision of airtime to
customers of the Business after the Transfer Date a true
copy of each invoice so listed and the amounts (if any)
received by the Vendors in payment of the same;
7.1.2. a statement (listing by customer name invoice number date
of invoice and total of invoice) of all those invoices
rendered by the Vendors for goods and services supplied by
the Vendors prior to the Transfer Date which have not been
paid; and
7.2. The Purchaser undertakes with the Vendors:
7.2.1. to render on the dates specified on the list to be handed
over by the Vendors pursuant to clause 7.1.3 invoices to
the customers shown on such list for the services provided
by the Business to those customers both before and after
the Transfer Date for the period specified for each such
customer on the said list;
7.2.2. to hold any sums of money received by the Purchaser in
respect of:
7.2.2.1. payment of the Vendors' invoices referred to
in clause 7.1.2; and
7.2.2.2. the amount or amounts due to the Vendors in
respect of the invoices rendered by the
Purchaser pursuant to clause 7.2.1; upon
trust for the Vendors
7.2.3. where money is paid to the Purchaser without reference to
a particular invoice (or where the Purchaser cannot
identify that such money relates to a particular invoice)
to apply such money to the oldest of any invoices referred
to in clause 7.1.2 which remains unpaid by the customer
who paid such money unless the Purchaser shall be aware of
any dispute in respect of such invoice whereupon such
money shall be applied to the next oldest invoice referred
to in clause 7.1.2 which remains unpaid by the customer
who paid such money (and in respect of which the Purchaser
shall not be aware of any dispute in respect of the same)
and if there is no such invoice then apply such money to
any invoice
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rendered by the Purchaser which the customer who has paid
such money has not paid;
7.2.4. to pay to the Vendors fortnightly from the Transfer Date
all money:
7.2.4.1. received in payment of or applied to the
Vendors' invoices referred to in clause
7.1.2; and
7.2.4.2. received in payment of the amount or amounts
due to the Vendors in respect of the
invoices rendered by the Purchaser pursuant
to clause 7.2.1; and
7.2.5. within 14 days of becoming aware of the same to notify the
Vendors of any alleged or actual dispute relating to any
of the Vendors' invoices referred to in clause 7.1.2
7.3. The Purchaser further undertakes with the Vendors:
7.3.1. to use its reasonable endeavours to procure the change of
all standing order or direct debit instructions of
customers of the Business so as to ensure that customers
of the Business cease payments by standing order or direct
debit to the Bank Account within 4 months of Completion;
and
7.3.2. to give written notice to the Vendors when all the
standing orders or direct debit instructions referred to
in clause 7.3.1 have been changed.
7.4. In respect of the invoices mentioned in clause 7.1.1:
7.4.1. the Vendors shall be entitled to 35.4% of the total
(excluding Value Added Tax) of those of the invoices
mentioned in clause 7.1.1 which solely relate to the
provision of airtime for the month of March 1999;
7.4.2. the Vendors shall be entitled to 77.7% of the total
(excluding Value Added Tax) of those of the invoices
mentioned in clause 7.1.1 which solely relate to the
provision of airtime for the months of January February
and March 1999; and
7.4.3. the Vendors shall be entitled to receive the Value Added
Tax charged by them.
7.5. Forthwith upon Completion the Purchaser will pay to Fleetcomm Limited
the sum of pound sterling 60,000.00 in payment of the Vendors liability
to Fleetcomm Limited for that company's
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<PAGE> 14
November 1998 and December 1998 invoices and the Vendors agree to allow
the said sum of pound sterling 60,000.00 against that part of the
consideration payable pursuant to clause 2.3.1.
7.6. On the appropriate dates for payment the Purchaser will pay the
following invoices rendered by the creditors mentioned below for the
provision of airtime to the Business for the month of March 1999 and
the Vendors agree to allow the sum of pound sterling 19,915.46 against
that part of the consideration payable pursuant to clause 2.3.1:
<TABLE>
<CAPTION>
Invoice
No. Date Total Value Creditor
--- ---- ----------- --------
<S> <C> <C> <C>
4182 26th February 1999 pound sterling 70.85 R.S. Hill & Sons
4187 26th February 1999 pound sterling 200.75 R.S. Hill & Sons
4189 26th February 1999 pound sterling 109.43 R.S. Hill & Sons
4192 26th February 1999 pound sterling 295.22 R.S. Hill & Sons
4224 26th February 1999 pound sterling 401.50 R.S. Hill & Sons
4225 26th February 1999 pound sterling 295.22 R.S. Hill & Sons
8165 28th February 1999 pound sterling 1,227.78 Fleetcomm Ltd.
8237 28th February 1999 pound sterling 154.22 Fleetcomm Ltd.
8251 28th February 1999 pound sterling 624.97 Fleetcomm Ltd.
8277 28th February 1999 pound sterling 305.97 Fleetcomm Ltd.
8273 28th February 1999 pound sterling 847.18 Fleetcomm Ltd.
8210 28th February 1999 pound sterling 28,890.69 Fleetcomm Ltd.
6166 15th February 1999 pound sterling 8,844.82 National Band
Three Limited
</TABLE>
7.7. The Vendors jointly and severally undertake with the Purchaser:
7.7.1. to ensure that at the Transfer Date the balance standing
to the credit of the Bank Account is equal to the sum of
64.6% of the total (excluding Value Added Tax) of those
invoices mentioned in Clause 7.1.1 which have been paid
and which solely relate to the provision of airtime for
the month of March 1999 plus 22.3 % of the total
(excluding Value Added Tax) of those invoices
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mentioned in clause 7.1.1 which have been paid and which
solely relate to the provision of airtime for the months
of January February and March 1999;
7.7.2. to hold the monies referred to in clause 7.7.1 together
with:
7.7.2.1. 64.6% of the total (excluding Value Added
Tax) of those invoices mentioned in clause
7.7.1 which are paid to the Vendors or
received into the Bank Account on or after
the Transfer Date and which solely relate to
the provision of airtime for the month of
March 1999; plus
7.7.2.2. 22.3 % of the total (excluding Value Added
Tax) of those invoices mentioned in clause
7.7.1 which are paid to the Vendors or
received into the Bank Account on or after
the Transfer Date and which solely relate to
the provision of airtime for the months of
January February and March 1999; and plus
7.7.2.3. monies received by the Vendors or received
into the Bank Account in payment or on
account of any invoice rendered by the
Purchaser in relation to the Business on or
after the Transfer Date in trust for the
Purchaser;
7.7.3. to pay to the Purchaser upon Completion the monies
referred to in clause 7.7.1;
7.7.4. to account for and pay to the Purchaser 14 days after the
Transfer Date and fortnightly thereafter the payments
receipts and monies (or the appropriate percentage of
them) mentioned or referred to in clauses 7.7.2.1, 7.7.2.2
and 7.7.2.3 from time to time received by the Vendors;
7.7.5. to inform the Purchaser in writing immediately upon
payment of an invoice referred to in clause 7.1.2 being
made;
7.7.6. to immediately inform the Purchaser in writing of any
dispute to an invoice referred to in clause 7.1.2;
7.7.7. only to use money credited to the Bank Account on or after
the Transfer Date for the purposes set out in clauses
7.7.3 and 7.7.4; and
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7.7.8. not to charge mortgage assign or permit any lien to arise
upon the credit balance from time to time of the Bank
Account on or after the Transfer Date.
7.8. The Parties agree that provided the Vendors shall have complied with
the same the Vendors shall be released from the undertakings given by
them in clause 7.7 on the 31st day following the Purchaser giving
notice pursuant to clause 7.3.2.
7.9. The Vendors further jointly and severally undertake that during the
period commencing on the date of this Agreement and ending upon the
31st day following the Purchaser giving notice pursuant to clause
7.3.2:
7.9.1. they will not commit any act of bankruptcy;
7.9.2. they will not enter into any arrangement with or for the
benefit of their creditors;
7.9.3. they will not present their own petitions in bankruptcy;
7.9.4. forthwith upon either of them being served with a
statutory demand pursuant to Section 268 of the Insolvency
Act 1986 give written notice thereof to the Purchaser and
at the same time provide the Purchaser with a full copy of
any such notice;
7.9.5. forthwith upon either of them being served with a
bankruptcy petition to give written notice thereof to the
Purchaser and at the same time provide the Purchaser with
a full copy thereof;
7.9.6. forthwith upon either of them being served with notice of
some application for a charging order or with notice of
some application for a garnishee order or with notice
(formal or not) of some application for a Mareva injuction
in respect of their assets give written notice thereof to
the Purchaser and at the same time provide the Purchaser
with a full copy thereof;
7.9.7. forthwith upon any distress or execution being levied
against the goods of either of them to give written notice
thereof to the Purchaser; and
7.9.8. upon serving a written notice pursuant to any of clauses
7.9.4, 7.9.5. 7.9.6 or 7.9.7 to immediately pay to the
Purchaser any sum which is then held in trust for the
Purchaser by the Vendors and thereafter cooperate with the
Purchaser
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in ensuring that any subsequent sums credited to the Bank
Account are paid to the Purchaser.
7.10. The Purchaser further undertakes with the Vendors to hold:
7.10.1. 35.4% of the total (exclusive of Value Added Tax) of those
of the invoices mentioned in clause 7.1.1 which solely
relate to the provision of airtime for the month of March
1999 and which are paid by the customers of the Business
to the Purchase; plus
7.10.2. 77.7% of the total (exclusive of Value Added Tax) of those
of the invoices mentioned in clause 7.7.1 which solely
relate to the provision of airtime for the months of
January February and March 1999 and which are paid by the
customers of the Business to the Purchaser; and plus
7.10.3. All Value Added Tax paid by the customers of the Business
to the Purchaser in respect of such invoices in trust for
the Vendors.
7.11. The Purchaser also undertakes with the Vendors that the Purchaser will
fortnightly from Completion account for and pay to the Vendors the sums
from time to time held in trust pursuant to clause 7.10.
7.12. The Vendors jointly and severally undertake with the Purchaser to
account for and pay to Her Majesty's Customs & Excise all Value Added
Tax due on the invoices mentioned in clause 7.1.1.
7.13. At the request of the Purchaser but not further or otherwise the
Vendors will take such steps as the Purchaser shall require to collect
in payment of all or any of the invoices referred to in clause 7.1.1
and shall co-operate fully in the collection of such payments. Any
third party costs and expenses incurred by the Vendors in collecting in
payments of the said invoices shall be borne by the Parties:
7.13.1. as to 35.4% by the Vendors and as to 64.6% by the
Purchaser in respect of those invoices which relate solely
to the provision of airtime for the month of March 1999;
and
7.13.2. as to 77.7% by the Vendors and as to 22.3% by the
Purchaser in respect of those invoices which solely relate
to the provision of airtime for the months of January
February and March 1999.
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8. RISK/INSURANCE
8.1. The Assets shall be at the risk of the Vendors for the inclusive period
from the date of this agreement to the date of Completion and the
Vendors undertake to the Purchaser that on the date of this agreement
it will notify the interest of the Purchaser to the relevant insurers
and keep in force its existing insurance policies in respect of the
Assets until the cancellation of the relevant policies.
8.2. The Vendors agree that the Purchaser shall have the benefit of any
claim under any such insurance policies which may arise during the
period specified in clause 8.1.
9. COMPLETION
9.1. Provided that this agreement has not been terminated pursuant to clause
17.7 Completion of the sale and purchase hereby agreed shall take place
on 16th March 1999 at the offices of the Vendors' Solicitors or at such
other place as the Vendors' Solicitors and the Purchaser's Solicitors
may agree.
9.2. At Completion the Vendors shall deliver or cause to be delivered to the
Purchaser:
9.2.1. a duly executed assignment of the Goodwill in the terms of
the Assignment marked "A" annexed hereto;
9.2.2. a duly executed assignment of the Contracts in the terms
of the Assignment marked "B" annexed hereto;
9.2.3. a true and accurate reconciliation of the sum or sums
credited to the Bank Account as at the Transfer Date
against the invoices referred to in clause 7.1.1;
9.2.4. any such cheques or other instruments not paid into the
Bank Account by the Vendors which has been paid to the
Vendors in payment of or against an invoice referred to in
clause 7.1.1;
9.2.5. a duly executed agreement between (1) Dolphin
Telecommunications Limited (2) National Band 3 Limited (3)
Fleetcomm Limited (4) the Vendors (5) the Purchaser in the
form of that draft annexed hereto marked "C";
9.2.8 a duly executed agreement between (1) R.S. Hill & Sons (2)
the Vendors and (3) the Purchaser in the form of that
draft annexed hereto marked "D"; and
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9.2.9 all the Assets hereby agreed to be sold which are capable
of passing by delivery including without limitation all
designs drawings plans sales publications advertising and
promotional material and terms and conditions of sale
which relate to the Business.
9.3. If any documents required to be delivered to the Purchaser on
Completion pursuant to this clause are not forthcoming or if in any
other respect the Vendors have not fully complied with this clause the
Purchaser shall be entitled (in addition and without prejudice to any
other rights or remedies available to it):
9.3.1. to recind this agreement ; or
9.3.2. to effect Completion so far as practicable having regard
to the defaults which have occurred; or
9.3.3. by notice to the Vendors to prescribe a new date for
Completion (not more than 28 days after the original date
of Completion).
10. THE STOCKS
10.1. Immediately following Completion the Vendors and the Purchaser shall
count the number of each item of the Stocks.
10.2. The Vendors shall deliver such number of each item of the Stocks to the
Purchaser save that where the number of any such item is greater than
the number shown in the Fourth Schedule the Vendors shall retain the
number of such item that is equal to the difference between the number
counted for it and the number shown for it in the Fourth Schedule.
10.3. Immediately upon taking delivery of the Stocks the Purchaser (subject
to the provisions of clause 10.2) shall hand to the Vendors a cheque
for the total of the sum of the price of each item of the Stock shown
in the Fourth Schedule (or for those items marked "Trade Price" an
amount equal to the sum excluding Value Added Tax the Vendors shall
have paid for the same) hereto multiplied by the number of each such
item delivered by the Vendors subject to a maximum payment of pound
sterling 15,000.00.
11. EMPLOYEES
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<PAGE> 20
11.1. The Vendors have given notice to terminate the employment contracts of
each of the Excluded Employees in each case on proper notice according
to their respective contracts of employment (or in the alternative the
Vendors will fully compensate the Excluded Employees upon the expiry of
any short notice given for short notice) and the notices so given will
expire prior to the Transfer Date and the Vendors shall discharge and
indemnify the Purchaser against all costs claims liabilities expenses
and demands arising from all dismissals by the Vendors of the Excluded
Employees or any other employees whose contracts of employment are or
were terminated prior to the date of Completion whether for redundancy
or otherwise.
11.2. The Vendors shall use reasonable endeavours to retain the services of
each of the Transferring Employees to the intent that their respective
contracts of employment shall be continued until the Transfer Date and
then be transferred to the Purchaser by virtue of the Regulations. The
Vendors shall not pending the date of Completion dismiss any of the
Transferring Employees except with the Purchaser's consent which shall
not be withheld in the case of serious misconduct.
11.3. All salaries and other emoluments including holiday pay tax and
national insurance payments and contributions to retirement benefit
schemes relating to the Transferring Employees shall be borne by the
Vendors up to the Transfer Date and all necessary apportionments shall
be made.
11.4. The Vendors shall indemnify the Purchaser against each and every cost
claim liability expense or demand which relates to or arises out of any
act or omission by the Vendors or any other event or occurrence prior
to the date of Completion and which the Purchaser may incur in relation
to any contract of employment pursuant to the Regulations including
without limitation any such matter relating to or arising out of:
11.4.1. the Vendors' rights powers duties and/or liabilities under
or in connection with any such contract of employment
(which rights powers duties and/or liabilities are or will
be transferred to the Purchaser in accordance with the
Regulations);
11.4.2. anything done or omitted before the date of Completion by
or in relation to the Vendors in respect of any contract
of employment or any person employed in
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the Business which is deemed to have been done or omitted
by or in relation to the Purchaser in accordance with the
Regulations;
11.4.3. the Vendors' failure to pay to any Employee any sums due
in respect of the period prior to the Transfer Date; and
11.4.4. any claim by the Excluded Employees or any other former
existing or future employee of the Vendors (other than
Transferring Employees) against the Purchaser concerning
or relating to any matter whatever.
11.5. The Purchaser shall indemnify the Vendors against each and every cost
claim liability expense or demand arising from:
11.5.1. any claim or allegation by a Transferring Employee that in
consequence of the sale of the Business to the Purchaser
there has been or will be a substantial change in such
Employee's working conditions to his detriment; and
11.5.2. any act or omission of the Purchaser in relation to a
Transferring Employee occurring after the date of
Completion and against any claim for redundancy payments
or protective awards and any liability for wrongful
dismissal or unfair dismissal or otherwise in connection
with the transfer of the employment of the Transferring
Employees to the Purchaser.
11.6. The Parties acknowledge that Susan Lorimer on 26th February 1999
terminated her employment with the Vendors.
11.7. For the period of six weeks from Completion the Vendors will procure
that MAD Productions Limited provides to the Purchaser the services of
a suitably qualified employee or director of MAD Productions Limited at
a weekly cost of pound sterling 232.69 plus Value Added Tax for the
purposes of fulfilling the duties the Purchaser intended the said Sue
Lorimer would carry out.
11.8. The Vendors jointly and severally undertake with the Purchaser to
indemnify the Purchaser from and against all claims actions demands
damages awards and costs arising from and any claim brought by the said
Susan Lorimer arising from her employment in or the termination of her
employment in the Business.
12. CONTRACTS
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<PAGE> 22
12.1. The Purchaser agrees with the Vendors with effect from the Transfer
Date to assume the obligations of and become entitled to the benefits
of the Vendors arising (subject to the provisions of clause 13) on or
after the Transfer Date under the Contracts and the Purchaser shall
(subject to the provisions of clause 13) carry out perform and complete
all the obligations and liabilities created by or arising under the
Contracts on or after the Transfer Date and shall indemnify the Vendors
and keep them fully indemnified against all liabilities losses actions
proceedings costs claims demands and expenses brought or made against
or incurred by the Vendors in respect of the non-performance or
defective or negligent performance by the Purchaser of the Contracts as
aforesaid.
12.2. The Vendors shall on Completion and with effect from the Transfer Date
assign to the order of the Purchaser of all the Contracts.
12.3. Immediately upon entering into this Agreement the Vendors will:
12.3.1. send by first class ordinary post a letter in the form of
that annexed to this Agreement and marked "E" to each of
the customers of the Business who is a party to one or
more of the contracts making up the Contracts;
12.3.2. pass a true copy of each such letter to the Purchaser's
solicitors; and
12.3.3. the Purchaser hereby agrees it will not between the date
of this Agreement and Completion contact any of the
customers of the Vendors either directly or through its
servants or agents and a breach of this term will negative
the Purchaser's right to rescind under clause 12.5.
12.4. Immediately prior to Completion the Vendors will hand over to the
Purchaser a letter addressed to the Purchaser setting out:
12.4.1. all new contracts made between the Vendors and customers
since the date of this Agreement and appending to such
letter full copies of all such contracts;
12.4.2. full details of notices to terminate any of the Contracts
served upon the Vendors and any termination of any of the
Contracts since the date of this Agreement; and
12.4.3. full details of variations agreed by the Vendors to any of
the Contracts since the date of this Agreement.
12.5. If the aggregate effect of the matters mentioned in clauses 12.5.1
12.5.2 and 12.5.3 is:
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12.5.1. to reduce the revenue of the Business derived from the
Contracts by 10% or more; or
12.5.2. to reduce the number of customers of the Business in
respect of the Contracts by 10% or more; or
12.5.3. to incur a liability on the part of the Purchaser to one
or more of Dolphin Telecommunications Limited National
Band Three Limited Fleetcomm Limited or R S Hill & Sons
that equals 10% or more of the monthly revenue of the
Business at the Transfer Date from the supply of airtime
to the customers of the Business then without prejudice to
any other rights of the Purchaser the Purchaser may
rescind this Agreement without liability to the Vendors
subject to clause 12.3.3.
12.6. Where the Vendors have entered into new contracts with customers since
the date of this Agreement but within 4 working days of the Transfer
Date:
12.6.1. immediately prior to Completion the Vendors will hand over
to the Purchaser copies of all letters sent to the
customers in respect of such Contracts in the terms of the
letter referred to in clause 12.3.1;
12.6.2. the Vendors shall if requested by the Purchaser send to
all or some of the customers in respect of such contracts
a letter in the form of that referred to in clause 12.3.1;
12.6.3. until such contracts have been assigned to the Purchaser
to hold the same and all revenue from the same in trust
for the Purchaser; and
12.6.4. the Vendors will after Completion and when called upon to
do so by the Purchaser enter into an assignment of such
contracts in the form of that assignment marked "B"
annexed hereto.
12.7. Where the Vendors have entered into new contracts with customers during
the period commencing with the date of this Agreement and ending on
close of business of the 5th working day before the Transfer Date the
Vendors will immediately upon entering such contracts send to the
customers in respect of those contracts a letter in the form of that
referred to in clause 12.3.1 and will upon sending the same pass a copy
of each such letter to the Purchaser's Solicitors.
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<PAGE> 24
13. CREDITORS AND LIABILITIES
13.1. The Vendors agree to remain solely responsible for all the Liabilities
(save as otherwise expressly provided in this agreement) and undertake
to discharge the same and to indemnify the Purchaser fully at all times
from and against any and all claims actions proceedings demands
liabilities costs and expenses in connection with any of the
Liabilities.
13.2. Subject to clause 13.3 the Vendors shall be responsible for and shall
indemnify the Purchaser against any and all claims actions proceedings
demands liabilities costs and expenses arising after the Transfer Date
in respect of any goods or services supplied by the Vendors prior to
the Transfer Date which arise as a result of any act omission or
default of the Vendors or its employees agents or sub-contractors
occurring prior to the Transfer Date.
13.3. Further the Vendors shall be responsible for and indemnify the
Purchaser against any and all claims actions proceedings demands
liabilities costs and expenses arising after the Transfer Date in
respect of any defective goods supplied by the Vendors prior to the
Transfer Date.
13.4. The Vendors liability to this clause 13 shall be subject to the
provisions of clause 17.8 (mutatis mutandis) and such liability shall
not arise unless the Purchaser:
13.4.1. within such time after receiving notice of the same as is
reasonable to permit the Vendors to take appropriate
action shall have given full written details to the
Vendor;
13.4.2. shall have taken no action in relation to the same without
prior consultation with the Vendors; and
13.4.3. shall have allowed the Vendors to take whatever action the
Vendors and the Purchaser have agreed to deal with the
same provided that such action does not affect the assets
of the Purchaser or the Business.
13.5. For the purposes of clauses 13.3 and 13.4 in calculating the claims
actions proceedings demands costs liabilities and expenses all
equipment or parts of equipment shall be valued at trade price.
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14. RETAINER
Upon Completion the Purchaser will retain each of the Vendors for
advice and assistance to the Purchaser upon the terms of the Retainer agreements
annexed hereto marked "F" and "G" and upon Completion the parties shall exchange
signed agreements in those terms.
15. INSPECTION OF DOCUMENTS
15.1. The Vendors shall within 3 days of entering into this Agreement supply
to the Purchaser a list of the customers of the Business and such
historical information outstanding estimates job files customer files
and other papers relating to the Business as the Purchaser may
reasonably require.
15.2. The Vendors shall make available for inspection and reasonable use by
the Purchaser the books and other documents of the Vendors relating to
the Business but being retained by the Vendors. The Purchaser shall be
entitled at its own expense to make copies of such books and documents
provided that the rights conferred by this clause 15.2 shall expire on
the sixth anniversary of the Transfer Date.
15.3. The Purchaser shall for the same period make available for inspection
and reasonable use by the Vendors all books of account and other
documents handed over in pursuance of this agreement and the Vendors
shall be entitled at its own expense to make copies of the same.
15.4. Any books documents or records referred to in clause 15.2 and 15.3
shall be retained by the Vendors or the Purchaser as the case may be in
the United Kingdom.
15.5. Immediately upon entering into this Agreement the Vendors shall supply
to the Purchaser such information on the customers of the Business as
the Purchaser shall require to enable the Purchaser to render invoices
to such customers for services to be provided following Completion.
16. COMPLAINTS BY CUSTOMERS
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16.1. In the event of any complaints being made after the Transfer Date by
customers of the Business in relation to goods or services of the
Business delivered or rendered on or before the Transfer Date the
Purchaser will upon such complaints coming to its notice provide full
particulars in writing to the Vendors to enable the Vendors to
investigate the same and if the Vendors shall require any goods of the
Business for replacement purposes the Purchaser shall at the request in
writing of the Vendors supply the same to the customer and charge the
Vendors for them at a trade price.
16.2. The Purchaser shall take all reasonable steps to perform in accordance
with its normal business standards the obligations of the Vendors to
provide after-sales service or to meet warranty claims of customers
arising in the normal course of the Business as a result of
transactions carried out by the Vendors prior to the Transfer Date in
so far as the same are required by the Vendors' standard conditions of
sale a copy of which is annexed hereto marked "H". The Vendors shall
reimburse to the Purchaser on a monthly basis the direct costs incurred
by it in carrying out its obligations under this clause 16.2.
16.3. The Vendors undertake with the Purchaser to discharge pay or indemnify
the Purchaser fully at all times from and against all liability arising
out of any claims by customers of the Business in respect of goods sold
by the Vendors on or before the Transfer Date.
17. WARRANTIES
17.1. The Vendors jointly and severally represent warrant and undertake to
and with the Purchaser and its successors in title that the Warranties
are at the date of this agreement and will be at the date of Completion
true and correct in all respects provided that the Purchaser shall not
be entitled to claim that any fact or combination of facts constitutes
a breach of any of the Warranties if and to the extent that such fact
or combination of facts has been fully fairly and clearly disclosed in
the Disclosure Letter. The Vendors jointly and severally undertake to
the Purchaser to indemnify the Purchaser fully at all times from and
against all costs claims proceedings demands and expenses which the
Purchaser may sustain incur or pay by reason of any breach of any of
the Warranties.
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<PAGE> 27
17.2. Where any Warranty refers to the knowledge information belief or
awareness of the Vendors the Vendors acknowledge that they have made
full enquiry into the subject matter(s) of the Warranty.
17.3. The remedies of the Purchaser in respect of breach of any of the
Warranties shall continue to subsist notwithstanding Completion.
17.4. The rights and remedies of the Purchaser in respect of any breach of
the Warranties shall not be affected by the Purchaser failing to
exercise or delaying the exercise of any of its rights or remedies or
by any other event or matter whatever except a specific and duly
authorised written waiver or release.
17.5. Without restricting the rights of the Purchaser or the ability of the
Purchaser to claim damages on any basis available to it the Vendors
jointly and severally undertake to the Purchaser that in the event of a
breach of any of the Warranties the Vendors will forthwith on demand by
the Purchaser pay to the Purchaser (or in the case of a liability to
another person which has not been discharged the person to whom the
liability has been incurred) an amount equal to any deficiency or
liability of the Purchaser which would not have arisen but for the
facts circumstances or events which constitute such breach.
17.6. Promptly upon the occurrence of or promptly upon the Vendors becoming
aware of the impending or threatened occurrence of any event which
would or might reasonably be expected to cause or constitute a breach
(or would have caused or constituted a breach had such event occurred
or been known to the Vendors prior to the date of this agreement) of
any of the Warranties it shall give written notice of the same to the
Purchaser and shall use their best endeavours promptly to prevent or
remedy the same.
17.7. If in the period from the date of this agreement to the date of
Completion the Purchaser receives from the Vendors such a notice as is
referred to in clause 17.6 or (without prejudice to the foregoing) the
Purchaser becomes aware that any of the Warranties is not or will not
at the date of Completion be true and accurate in all material respects
or that any of the Assets (including in particular but without
detracting from the generality of the foregoing the Stocks or the
Equipment) have been damaged to any material extent then the Purchaser
may by notice in writing to the Vendors' solicitors terminate this
agreement which shall thereupon become null and void ab initio and
neither Party shall have any
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rights against the other but failure to exercise this right shall not
constitute a waiver of any other rights of the Purchaser arising out of
any breach of the Warranties.
17.8. Other than for a breach of the Warranties contained in paragraphs 7 8
or 10 of the Fifth Schedule the Purchaser shall make no claim against
the Vendors for a breach of any of the Warranties unless:
17.8.1. the value of the loss or damage sustained by the Purchaser
in respect of any one claim exceeds pound sterling 175.00;
or
17.8.2. the aggregate value of the loss or damage sustained by the
Purchaser in respect of the Vendors' breach or breaches of
the Warranties exceeds pound sterling 5,000.00.
17.9. Other than for a breach of the Warranties contained in paragraphs 7 8
or 10 of the Fifth Schedule the Vendors shall only be liable for a
breach of any of the Warranties if:
17.9.1. The Purchaser serves notice of a breach of any one of the
Warranties upon the Vendors and the Vendors have not
remedied such breach within 28 days of the date of such a
notice; and
17.9.2. Any notice pursuant to clause 17.9.1 is served by the
Purchaser within 12 calendar months of Completion.
17.10. The Purchaser shall have no Claim whatever against the Vendors in
respect of any breach of any of the Warranties:
17.10.1. if and to the extent that such breach or Claim occurs as a
result of any legislation not in force at the date of this
Agreement which takes effect retrospectively or occurs as
a result of any increase in the rates of taxation in force
at such date or occurs as a consequence of a change in the
interpretation of the law after such date in any
jurisdiction;
17.10.2. if and to the extent that such breach or Claim would not
have arisen but for any voluntary act omission transaction
or arrangement after Completion by the Purchaser or any
person connected with it otherwise than in the ordinary
course of business and which the Purchaser knew or ought
reasonably to have known could give rise to a Claim; and
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17.10.3. to the extent such Claim arises as a result only of any
changes after Completion in the accounting bases policies
or methods used by the Purchaser to value any of its
assets
17.11. If any potential Claim shall arise by reason of a liability which is
contingent only then the Vendors shall not be under any obligation to
make any payment pursuant to such Claim until such time as the
contingent liability ceases to be contingent and becomes actual. The
provisions of clause 17.9.2 shall not apply to any potential claim
which shall arise by reason of a liability which is contingent; and
17.15. The Purchaser confirms to the Vendors that it is not at the date of
this Agreement and after discussion with its accountants and solicitors
aware of any matter or thing which in its reasonable opinion would give
rise to any Claim. However such confirmation is given on the basis of
all the Warranties (save for those which have had disclosures made
against them in the Disclosure Letter) being true and accurate and if
the Warranties are not true and accurate then this clause shall be
deemed to be of no effect.
18. RESTRICTIONS ON VENDORS
18.1. The Vendors jointly and severally undertake to and with the Purchaser
that neither of them will either on their own account (whether jointly
or individually) or in conjunction with others and whether directly or
indirectly:
18.1.1. for a period of 2 years from the Transfer Date establish
develop carry on or assist in carrying on or be engaged
concerned interested or employed in or provide technical
commercial or professional advice to any other business
enterprise or venture which supplies goods and/or services
which are competitive with or are of the type supplied by
the Business at the Transfer Date within a radius of 50
miles of Unit 12 Brickfields Trading Estate Brickfield
Lane Chandlers Ford Hampshire SO53 4DT;
18.1.2. for a period of 2 years from the Transfer Date solicit
canvass or entice away (or endeavour to solicit canvass or
entice away) from the Business or the Purchaser the custom
of any person firm or company who was at any time
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during the period of 48 months immediately preceding the
Transfer Date a client or customer of the Business or
negotiating with the Vendors in relation to the Business
for the supply of goods or services or in the habit of
dealing with the Vendors in relation to the Business for
the purpose of offering to such client or customer or
obtaining from such supplier goods or services similar to
or materially competing with those of the Business;
18.1.3. for a period of 2 years from the Transfer Date deal or
contract with any person firm or company who was at any
time during the period of 48 months immediately preceding
the Transfer Date a client or customer of the Business or
negotiating with the Vendors in relation to the Business
for the supply of goods or services or in the habit of
dealing with the Vendors in relation to the Business for
the purpose of offering to such person firm or company
goods or services similar to or materially competing with
those of the Business;
18.1.4. for a period of 2 years from the Transfer Date solicit
canvass or entice away (or endeavour to solicit canvass or
entice away) any of the Transferring Employees from the
Purchaser or any of its subsidiaries whether or not such
person would commit a breach of contract by reason of
leaving service;
18.1.5. at any time after the Transfer Date disclose to any person
or use for any purpose any Know-how and shall use all
reasonable endeavours to prevent the publication or
disclosure of any Know-how;
18.1.6. at any time after the Transfer Date carry on business or
trade under a name which is identical or similar to any
names used by the Business or which suggests any
connection with the Business or the Purchaser; and
18.1.7. do anything which might prejudice the Goodwill of the
Business.
18.2. No provision of this agreement or of any agreement or arrangement of
which it forms part by virtue of which the agreement constituted by all
of the foregoing is subject to registration (if such be the case) under
the Restrictive Trade Practices Act 1976 shall take effect until the
day after particulars of such agreement have been furnished to the
Director General of Fair Trading pursuant to the terms of Section 24 of
that Act.
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18.3. Each covenant contained in clause 18.1 shall be construed as a separate
covenant and if one or more of the covenants is held to be against the
public interest or unlawful or in any way an unreasonable restraint of
trade the remaining covenants shall continue to bind the Vendors.
18.4. If any covenant in clause 18.1 would be void as drawn but would be
valid if the period of application were reduced or if some part of the
covenant were deleted the covenant in question shall apply with such
modification as may be necessary to make it valid and effective.
18.5. The Vendors shall promptly refer to the Purchaser all enquiries
relating to the Business and assign to the Purchaser (so far as they
are able) all orders relating to the Business including enquiries or
orders for any stocks spare parts accessories and other equipment
manufactured or sold in connection with the Business which the Vendors
may in future receive.
19. CONFIDENTIAL INFORMATION
19.1. The Vendors acknowledge that the Vendors have information in respect of
the Business and financing of the Business and its dealings
transactions affairs plans and proposals all of which information is or
may be secret or confidential and important to the Business. In this
clause 19 such information is called 'Confidential Information' and
includes without limitation confidential or secret information relating
to the trade secrets know-how ideas business methods finances prices
business plans sales targets sales statistics customer lists customer
relationships computer systems and computer software of the Business.
The Vendors further acknowledge that the disclosure of Confidential
Information (whether directly or indirectly) to actual or potential
competitors of the Business would place it at a competitive
disadvantage and would do damage to its business. The Vendors
accordingly agrees to enter into the restrictions contained in clause
19.2.
19.2. The Vendors shall not at any time after the Transfer Date:
19.2.1. disclose to any person except to those authorised by the
Purchaser to know;
-31-
<PAGE> 32
19.2.2. use for the Vendors' own purposes or for any purposes
other than those of the Business; or
19.2.3. through failure to exercise all due care and diligence
cause or permit any unauthorised disclosure of any
Confidential Information but these restrictions shall
cease to apply to information which (other than through
the fault of the Vendors) becomes available to the public
generally.
20. INTEREST
In the event that Completion is delayed for any reason not attributable
to default or delay of the Vendors in performing its obligations under this
agreement interest shall be payable (as well after as before judgement) to the
Vendors in respect of the consideration due on such date of Completion at 3%
above the base rate from time to time of National Westminster Bank plc such
interest to be calculated on a daily basis.
21. COSTS/STAMP DUTY
21.1. The Purchaser shall pay the Vendors' costs in connection with the
negotiation and preparation excluding the VAT element of such costs
subject to the Purchaser paying a maximum of pound sterling 8,000.00 in
respect of such costs and otherwise the Parties shall pay their own
costs in connection with the negotiation preparation and implementation
of this Agreement or any agreement incidental to or referred to in this
agreement and the assignments of all the Assets hereby agreed to be
sold and not transferable by delivery.
21.2. The Purchaser shall pay any stamp duty payable on this Agreement or the
transfer and assignment of the Assets.
22. FURTHER ASSURANCE
-32-
<PAGE> 33
The Vendors undertake with the Purchaser to execute and deliver any
other documents and take any other steps as shall be reasonably required by the
Purchaser to vest the Assets in the Purchaser.
23. ASSIGNMENT
This Agreement shall be binding upon and enure for the benefit of the
successors of the Parties.
24. ANNOUNCEMENTS
No announcement of any kind shall be made in respect of the subject
matter of this Agreement except as specifically agreed between the Parties.
25. MISCELLANEOUS
25.1 Completion shall not in any way prejudice or affect the operation of
any of the provisions of this Agreement which contemplate or are
capable of operation after Completion and accordingly all such
provisions shall continue in full force and effect after Completion.
Completion shall not constitute a waiver by the Purchaser of any breach
of this agreement whether or not known to the Purchaser at the date of
Completion.
-33-
<PAGE> 34
THE FIRST SCHEDULE
<TABLE>
<CAPTION>
CONTRACT NO. DATE TERM NO. OF UNITS
------------ ---- ---- ------------
<S> <C> <C> <C>
A 008/1 19.12.96 1 Year 6
A 008/2 Undated 1 Year 1
A 011/1 09.09.97 1 Year 34
A 011/2 20.09.97 1 Year 1
A 011/3 23.02.98 1 Year 2
A 012 18.09.98 3 Years 2
A 014/1 18.02.98 1 Year 7
A 014/2 21.03.98 1 Year 1
A 014/3 Undated 1 Year 2
A 014/4 15.09.98 1 Year 1
A 015 None 1 Year 3
A016 22.11.93 1 Year 5
A 017 16.05.96 1 Year 6
A 017 11.08.98 1 Year 1
A 018 11.06.97 1 Year 1
A 019/1 18.01.94 1 Year 12
A 019/2 16.10.97 None stated 2
A 019/3 17.06.97 1 Year 1
A 019/4 05.02.98 1 Year 1
A 021/1 04.08.97 1 Year 9
A 021/2 07.07.98 1 Year 1
A 025/1 Undated 1 Year 8
A 025/2 Undated 1 Year 1
A 025/3 09.09.97 1 Year 10
A 025/4 12.09.97 1 Year 2
A 026/1 25.04.94 1 Year 3
A 026/2 Undated 1 Year Service
A 026/3 Undated 1 Year 1
</TABLE>
-34-
<PAGE> 35
<TABLE>
<S> <C> <C> <C>
A 028/1 06.03.97 1 Year 11
A 028/2 Undated 1 Year 1
A 028/3 04.09.98 1 Year 1
A 029 04.03.98 1 Year 8
A 030/1 13.06.94 1 Year 5
A 030/2 27.06.95 1 Year 1
A 030/3 12.04.96 1 Year 1
A 030/4 27.08.96 1 Year 1
A 030/5 03.02.97 1 Year 1
A 030/6 24.03.97 1 Year 1
A 030/7 27.01.98 1 Year 1
A 031/l 21.05.97 1 Year 10
A 031/2 30.03.98 1 Year 1
A 032 Undated 1 Year 6
A 033/1 24.02.97 3 Years 9
A 033/2 Undated 3 Years Service Change
A 033/3 15.06.98 1 Year 1
A 034/1 08.11.94 1 Year 7
A 034/2 20.08.96 1 Year 1
A 034/3 10.10.96 1 Year 1
A 034/4 Undated 1 Year 2
A 034/5 27.03.98 1 Year 2
A 036 09.09.97 1 Year 17
A 037/l 20.12.94 1 Year 22
A 037/2 24.06.96 1 Year 1
A 038 30.03.98 1 Year 10
A 039/1 10.12.93 1 Year 9
A 039/2 30.11.94 1 Year 1
A 039/3 24.04.95 1 Year 1
A 039/4 15.09.95 1 Year 1
A 039/5 03.01.96 1 Year 1
A 039/6 04.01.97 1 Year 1
A 039/7 Undated 1 Year 1
</TABLE>
-35-
<PAGE> 36
<TABLE>
<S> <C> <C> <C>
A 039/8 Undated 1 Year 1
A 039/9 20.01.98 1 Year 1
A 039/10 22.07.98 1 Year 1
A 040/1 19.11.94 3 Years 8
A 040/2 24.07.96 1 Year 1
A 040/3 07.04.97 1 Year 2
A 040/4/H 19.11.94
A 041/1 06.03.95 5 Years 20
A 041/2 10.01.99 1 Year 1
A 042 27.03.96 1 Year 12
A 043 08.03.97 1 Year 7
A 045 21.02.95 1 Year 10
A 048 19.01.99 1 Year 1
A 048/1 25.07.94 1 Year 8
A 048/2 06 12.96 1 Year 1
A 048/3 01.06.98 1 Year 4
A 050 09.03.98 1 Year 9
A 051/1 20.03.96 1 Year 10
A 051/2 11.12.96 1 Year 1
A 051/3 Undated 1 Year 1
A 053 10.07.98 3 Years 12
A 054 21.07.98 1 Year 10
A 055 22.10.96 3 Years 13
A 056/1 30.09.96 1 Year 10
A 056/2 22.12.96 1 Year 1
A 056/3 Undated 1 Year 1
A 056/4 Undated 1 Year 1
A 058 Undated 1 Year 8
</TABLE>
-36-
<PAGE> 37
<TABLE>
<S> <C> <C> <C>
A 059/1 28.08.97 1 Year 6
A 059/2 Undated 1 Year 1
B 001/1 08.05.96 5 Years 11
B 001/2 28.06.96 5 Years 1
B 001/3 Undated None stated 1
B 001/4 Undated 1 Year 1
B 002 25.10.97 None stated 10
B 003 Undated 1 Year 13
B 005 (6)/3 Undated None stated 13
B 005 (6)/4 16.04.98 1 Year 1
B 005 (6)/5 01.10.98 1 Year -1
B 008 20.09.95 1 Year 3
B 009 22.10.98 1 Year 17
B 010/1 01.03.96 5 Years 5
B 010/2 12.04.96 5 Years 1
B 011/1 28.03.96 1 Year 7
B 011/2 21.05.98 1 Year 2
B 012 21.10.98 1 Year 1
B 013/1 05.09.96 5 Years 7
B 013/2 Undated None stated 1
B 013/3 Undated 1 Year 1
B 014/1 27.10.95 5 Years 7
B 014/2 20.03.96 1 Year 2
B 014/3 Undated 3 Years 1
B 014/4 18.09.96 3 Years 1
B 015/1 Undated 5 Years 6
B 015/2 06.12.94 1 Year 1
B 015/3 07.02.96 3 Years 1
B 015/4 26.02.97 1 Year 1
B 015/5 04.06.98 1 Year 2
</TABLE>
-37-
<PAGE> 38
<TABLE>
<S> <C> <C> <C>
B 016/1 22.10.94 3 Years 6
B 016/2 01.03.96 3 Years 1
B 016/3 Undated 1 Year 1
B 016/4 Undated 1 Year 1
B 017/1 17.08.95 1 Year 7
B 017/2 22.01.98 1 Year 2
B 018/1 21.04.97 1 Year 11
B 018/2 06.08.97 1 Year 1
B 018/3 06.12.97 None stated 1
B 019/1 Undated None stated 1
B 019/2 27.04.98 1 Year 12
B 019/3 27.10.97 1 Year 1
B 019/4 07.09.98 1 Year 1
B 019/5 Undated 1 Year 1
B 019/6 09.11.98 1 Year 1
B 020/1 16.05.95 1 Year 8
B 020/2 29.07.95 1 Year 1
B 020/3 Undated 1 Year 3
B 021 17.12.98 1 Year 1
B 021/1 05.11.94 1 Year 12
B 021/2 02.05.95 1 Year 1
B 021/3 Undated 1 Year 1
B 021/4 Undated 1 Year 1
B 021/5 28.09.98 1 Year 1
B 021/6 Undated 1 Year 1
B 022/4 01.04.97 1 Year 9
B 023/1 21.05.94 1 Year 6
B 023/2 03.06.95 1 Year 1
B 023/3 15.06.96 1 Year 1
B 024 28.09.98 1 Year 9
B 025/1 25.11.97 3 Years 1
B 025/2 16.10.97 3 Years 9
B 026/1 28.04.97 1 Year 7
</TABLE>
-38-
<PAGE> 39
<TABLE>
<S> <C> <C> <C>
B 026/2 19.02.98 1 Year 1
C 001/1 05.09.96 1 Year 5
C 001/2 08.10.96 1 Year 16
C 004/1 Undated None stated 2
C 004/2 17.12.98 1 Year 1
C 005/1 28.03.97 1 Year 7
C 005/2 03.02.98 1 Year 1
C 005/3 Undated 1 Year 1
C 006 14.05.96 1 Year 4
C 007 14.01.99 1 Year 1
C 007/1 09.05.94 1 Year 13
C 007/2 Undated 1 Year 1
C 007/3 23.09.97 1 Year 1
C 007/4 Undated None stated 2
C 007/5 Undated 1 Year 1
C 008/1 19.10.98 1 Year 6
C 008/2 24.11.98 1 Year 1
D 001/1 23.01.97 1 Year 13
D 001/2 06.03.97 None stated 2
D 001/3 Undated None stated 2
D 001/4 15.07.98 1 Year 2
D 002 (3) (4)/1 18.11.97 1 Year 10
D 002 (3) (4)/2 Undated 1 Year 1
D 006 24.09.98 3 Years 6
D 007 19.03.97 1 Year 2
E 001/1 as evidenced by
the order of Evesons
Fuels Limited dated
16/9/96 11
E 001/2 26.07.97 1 Year 1
E 001/2 Undated 1 Year 1
E 004 15.11.96 1 Year 5
E 005/1 14.01.97 None stated 11
</TABLE>
-39-
<PAGE> 40
<TABLE>
<S> <C> <C> <C>
E 005/2 Undated None stated -2
F 002/1 09.01.98 3 Years 22
F 002/2 25.08.98 1 Year 1
F 002/3 19.02.99 1 Year 1
F 003 Undated 1 Year 6
F 005 15.05.97 1 Year 6
F 006/2 15.01.99 1 Year 15
F 007/1 03.10.97 None stated 11
F 007/2 23.07.98 1 Year 2
G 001 04.06.97 1 Year 19
G 002 23.07.94 1 Year 5
G 003 20.03.97 1 Year 1
G 004/1 12.11.96 1 Year 12
G 004/2 22.01.98 3 Years 1
G 005 04.01.98 1 Year 1
G 005/1 29.07.96 1 Year 8
G 005/2 17.03.97 1 Year 1
G 005/3 24.01.97 None stated 1
G 005/4 Undated 1 Year 1
G 005/5 Undated 1 Year 1
G 005/6 30.07.98 1 Year 1
G 005/7 04.01.99 1 Year 1
H 001 26.01.98 1 Year 11
H 002 10.11.98 1 Year 12
I 001/1 25.09.96 1 Year 7
I 001/2 15.02.99 1 Year 1
I 002/1 23.05.97 1 Year 1
I 002/2 Undated 1 Year 1
</TABLE>
-40-
<PAGE> 41
<TABLE>
<S> <C> <C> <C>
I 002/3 Undated 1 Year 1
I 002/9 23.02.99 1 Year 1
I 003/1 Undated 1 Year 9
I 003/2 Undated 1 Year 1
I 003/3 27.06.97 1 Year 1
I 003/4 23.04.98 1 Year 1
I 003/5 11.09.98 1 Year 2
I 004/1 11.09.98 1 Year 15
I 004/2 03.11.98 1 Year 1
1 005 04.12.98 1 Year 1
I 005/1 Undated 1 Year 12
1 005/2 21.01.98 1 Year 2
I 005/3 11.08.98 Marked N/A 2
I 006 (13)/1 08.09.95 17
I 006 (13)/2 Undated 1 Year 2
I 006 (13)/3 26.03.96 1 Year 1
I 006 (13)/4 10.01.97 1 Year 2
I 006 (13)/5 Undated 1 Year 2
I 006 (13)/6 Undated 1 Year 1
I 006 (13)/7 Undated 1 Year 1
I 006 (13)/8 Undated 1 Year 3
I 006 (13)/9 Undated None stated 1
I 006 (13)/10 09.04.98 1 Year 1
I 006 (13)/11 Undated 1 Year 1
I 007 10.02.99 1 Year 3
I 007/1 17.04.96 1 Year 30
I 007/2 30.07.97 1 Year 2
I 007/3 09.12.97 None stated 2
I 007/4 20.01.98 None stated 2
I 007/5 22.10.98 1 Year 3
I 007/6 20.01.99 1 Year 1
I 008/1 Undated None stated 11
I 008/2 03.10.97 None stated 1
I 008/3 21.11.97 1 Year 1
I 009 03.03.99 1 Year 7
I 010/1 27.05.97 1 Year 7
I 010/2 21.01.98 1 Year 2
</TABLE>
-41-
<PAGE> 42
<TABLE>
<S> <C> <C> <C>
I 010/3 30.04.98 1 Year 2
I 010/4 11.08.98 1 Year 3
I 011/1 21.04.98 1 Year
I 011/2 23.06.98 1 Year 19
I 011/3 03.11.98 1 Year 1
I 012/1 17.05.97 1 Year 11
I 012/2 30.07.98 1 Year 2
I 012/3 23.02.99 1 Year 1
I 014 24.04.97 1 Year 11
I 015/1 10.11.94 1 Year 5
I 015/2 04.06.95 1 Year 1
I 016/1 25.08.94 1 Year 7
I 016/2 24.07.97 1 Year 1
I 017/1 11.03.97 1 Year 6
I 017/2 Undated 1 Year 1
I 018/1 23.04.95 1 Year 10
I 018/2 10.02.99 1 Year 1
I 019 20.11.96 3 Years 7
I 020 26.09.95 1 Year 7
I 021 25.08.94 1 Year 9
I 022 09.02.99 1 Year 1
I 022/1 12.05.94 1 Year 7
I 022/2 Undated None stated 1
I 022/3 08.02.99 1 Year 1
I 023/1 22.02.94 1 Year 7
I 023/2 12.09.95 1 Year 1
I 023/3 12.05.97 1 Year Service Upgrade for 1
mobile
I 024 14.10.98 1 Year 10
I 025 27.01.99 1 Year 2
</TABLE>
-42-
<PAGE> 43
<TABLE>
<S> <C> <C> <C>
I 025/1 13.11.96 3 Years 17
I 025/2 13.02.97 3 Years 1
I 026/1 30.04.98 3 Years 10
I 026/2 22.01.99 1 Year Service Upgrade of
10 units
I 027/1 21.09.94 1 Year 12
I 027/2 31.12.96 1 Year 1
I 027/3 18.07.97 1 Year 1
I 027/4 04.12.97 1 Year 1
I 028 17.11.98 1 Year 10
I 029/1 29.11.94 1 Year 31
I 029/2 06.02.96 1 Year 1
I 029/3 28.05.97 1 Year 2
I 029/4 Undated None stated 2
I 029/5 22.10.98 1 Year 2
I 030/1 26.11.94 1 Year 6
I 030/2 10.04.96 1 Year 1
I 030/3 Undated 1 Year 1
I 030/4 25.06.98 1 Year 1
I 031 24.09.97 1 Year 2
I 033/1 18.05.96 1 Year 10
I 033/2 29.01.98 1 Year 2
I 034 02.02.99 1 Year 1
I 034/1 09.02.95 1 Year 11
I 034/2 21.02.97 1 Year 1
I 034/3 29.05.97 1 Year 1
I 035 08.04.97 1 Year 7
I 036/1 30.06. 1 Year 5
I 036/2 17.06.97 1 Year 1
I 037/1 12.06.95 5 Years 5
I 037/2 22.07.97 1 Year 1
I 037/3 Undated 1 Year 1
</TABLE>
-43-
<PAGE> 44
<TABLE>
<S> <C> <C> <C>
I 038 12.09.95 1 Year 7
J 001 01.11.98 1 Year 2
J 002 01.10.98 1 Year 2
J 003/1 09.12.97 1 Year 9
J 003/2 07.08.98 1 Year 1
K 001/1 21.03.96 1 Year 6
K 001/2 01.11.96 1 Year 1
K 001/3 13.11.97 1 Year 1
K 002 29.06.98 None stated 1
L 003 Undated 1 Year 5
L 004/1 23.07.97 1 Year 3
L 004/2 Undated 1 Year 1
L 005 12.02.96 1 Year 6
M 001 20.01.99 1 Year 1
M 001/1 08.11.95 1 Year 3
M 001/2 12.02.96 1 Year 1
M 002 15.09.97 1 Year 8
M 003/1 22.11.93 1 Year 7
M 003/2 10.10.95 1 Year 3
M 004 Undated 1 Year 3
M 005/1 03.07.95 1 Year 7
M 005/2 01.10.95 1 Year 2
M 005/3 15.10.96 1 Year 2
M 006/1 12.09.95 1 Year 11
M 006/2 25.02.97 1 Year 1
M 008/1 25.09.96 1 Year 4
</TABLE>
-44-
<PAGE> 45
<TABLE>
<S> <C> <C> <C>
M 008/2 27.08.98 1 Year 2
M 009 14.10.98 1 Year 5
M 010/1 28.01.99 1 Year 1
M 010/2 20.02.99 1 Year 1
N 001 03.07.96 1 Year 3
N 002 12.02.98 1 Year 2
N 003 04.11.98 1 Year 1
O 001 19.12.96 1 Year 6
P 001 23.07.97 1 Year 3
P 004 24.04.98 1 Year 5
P 005/1 21.11.96 1 Year 11
P 005/2 12.02.97 1 Year 3
P 006/1 25.07.96 1 Year 6
P 006/2 Undated 1 Year 1
P 006/3 Undated 1 Year 1
P 007 10.10.96 1 Year 1
P 008 Undated 1 Year 28
P 009 (20)/1 13.02.97 1 Year 1
P 009 (20)/2 23.02.97 1 Year 8
P 012 07.10.96 3 Years 3
P 013 04.09.97 1 Year 6
P 014 21.10.98 1 Year 1
P 014 (10)/1 19.07.96 1 Year 8
P 014 (10)/2 Undated 1 Year 1
</TABLE>
-45-
<PAGE> 46
<TABLE>
<S> <C> <C> <C>
P 014 (10)/3 Undated 1 Year 1
P 015 25.11.95 1 Year 6
P 016 06.01.99 1 Year 1
P 016/1 13.02.95 1 Year 7
P 016/2 Undated 1 Year 1
P 016/3 Undated 1 Year 1
P 016/4 22.10.98 1 Year 1
P 017 23.12.97 3 Years 5
P 018/1 04.04.96 1 Year 3
P 018/2 09.12.96 1 Year 1
P 018/3 13.02.97 1 Year 1
P 019/1 13.11.97 1 Year 3
P 019/2 26.11.98 l Year 1
P 021 11.02.98 1 Year 7
P 022 04.04.96 1 Year 4
P 023 09.07.98 2 Years 10
P 024 18.12.96 1 Year 7
P 025 19.01.99 1 Year 5
R 001/1 20.05.97 1 Year 8
R 001/2 13.02.98 1 Year 1
R 002 06.01.99 1 Year 6
R 003/1 Undated 1 Year 16
R 003/2 14.03.97 None stated 2
R 003/3 25.09.97 1 Year 1
R 003/4 12.03.98 1 Year 1
R 003/5 21.04.98 None stated 1
R 003/6 08.09.98 1 Year 3
R 004/1 30.05.96 5 Years 14
</TABLE>
-46-
<PAGE> 47
<TABLE>
<S> <C> <C> <C>
R 004/2 01.11.97 5 Years 2
R 005 Undated 1 Year 7
R 006 10.11.98 None stated 4
S 001/1 30.10.95 1 Year 3
S 001/2 Undated 1 Year 1
S 002 23.01.97 1 Year 13
S 003/1 14.06.96 1 Year 6
S 003/2 Undated None stated 2
S 004/1 26.09.97 1 Year 7
S 004/2 16.06.98 1 Year 1
S 005 16.06.98 5 Years 12
S 005 10.02.99 1 Year 1
S 006 & S 007 Undated 1 Year 8
S 008/1 08.01.98 None stated 22
S 008/2 16.11.98 1 Year 2
S 009 Undated 1 Year 21
S 010 17.07.97 1 Year 9
S 011 27.11.96 1 Year 28
S 012 09.12.98 1 Year 5
S 013 23.03.94 1 Year 5
S 014 l Year 9
S 015/1 21.03.96 3 Years 10
S 015/2 09.04.96 3 Years 1
</TABLE>
-47-
<PAGE> 48
<TABLE>
<S> <C> <C> <C>
S 016 14.08.95 1 Year 15
S 018/1 01.08.97 3 Years 24
S 018/2 18.02.99 1 Year 1
T 00l (2) 10.10.97 1 Year 19
T 004 Undated 1 Year 6
T 006 29.07.96 1 Year 6
T 008 22.09.95 1 Year 6
U 001 21.07.96 1 Year 6
U 002 10.06.96 1 Year 8
U 003 10.06.96 1 Year 7
U 004 10.06.96 1 Year 5
U 005 17.07.96 1 Year 8
W 001 26.06.98 1 Year 16
W 002 29.09.98 1 Year 14
W 002 27.01.99 1 Year 1
W 003/1 11.11.95 1 Year 4
W 003/2 11.05.96 1 Year 2
W 003/3 Undated None stated 2
W 004 25.07.97 1 Year 7
W 005/1 04.10.96 1 Year 7
W 005/2 06.02.97 1 Year 3
W 006 07.10.96 1 Year 5
Wyse Plant Limited Undated 1 Year 3
</TABLE>
-48-
<PAGE> 49
THE SECOND SCHEDULE
THE TRANSFERRING EMPLOYEES
DAVID WAY FRY
JAMES AUCOCK
-49-
<PAGE> 50
THE THIRD SCHEDULE
THE EQUIPMENT
1 Hewlett Packard 8920A RF Test Set Serial no. 3207A01077
The Service Department Computer
1 Bird Thruline Wattmeter Serial no. 241973
25W element leads and adaptors
FM1200 PDP Programmer
25m 4 way extension lead
4 step ladder
4m adjustable ladder
Nokia 2140 Handsfree car kit
Prokit Tool kit
14" bolt cutters
multimeter
portasol gas iron
RF crimp pliers
cable tie gun
2 x stepdrills
small adjustable spanner
2 radio trimmers
1 Bird Thruline Wattmeter Serial no. 246604
1 25 watt 100-250 MHz element
SBS Drill
-50-
<PAGE> 51
16mm SBS masonry drill bit
2 Bosch 7.2 Battery drills
2 Bosch 7.2 battery
25m extension cable
Dumpy Philips
Large Philips
Precision flatblade
Dumpy flatblade
2 Long nose pliers
pair side cutters
2 20mm cone cutters
tape measure
aerial crimp pliers
crimp pliers
wire strippers
bolt cutters
200mm adjustable spanner
set of torx
set of allen keys
stanley knife
claw hammer
hacksaw
-51-
<PAGE> 52
multi-meter
set folding ladders
250 soldering iron
13mm spanner
14mm spanner
15mm spanner
17mm spanner
19mm spanner
small spirit level
set torx screwdrivers
gas soldering iron
Bird Thruline Wattmeter Serial no. 246028
MS295
Canon Bubble jet printer
RS Trimmer set
Programming leads for PRM8O/Tait/Kenwood/KM225
Motorola/Cleartone/LP70Icom/TTI/FM1200 PDP
3 Hanson Bench power supply
LP70 CTU Service module
-52-
<PAGE> 53
THE FOURTH SCHEDULE
THE STOCKS
----------
<TABLE>
<CAPTION>
Number Description Price (each unit)
------ ----------- ----------------
<S> <C> <C>
SIMOCO EQUIPMENT:
30 LM60 Service Spare pound sterling 105.00
5 LM70 Service Spare pound sterling 125.00
5 New LM60 Radio pound sterling 150.00
3 New LM70 Radio pound sterling 286.00
5 New PRX2020 Power Supply pound sterling 131.00
3 2nd Hand PRX2020 pound sterling 65.00
4 2nd Hand PRX10 P/Supply pound sterling 131.00
10 Simoco Speaker pound sterling 9.00
15 Simoco Fist Mic pound sterling 22.00
15 Simoco Cradle pound sterling 8.00
40 Speaker Bracket pound sterling Trade Price
25 Kettle Lead pound sterling 3.60
AERIALS:
ALLGON PARTS/FONE LOGISTICS:
10 High Gain Whip pound sterling 6.70
15 1/4 Wave Whip pound sterling 4.27
10 Magamount pound sterling 13.19
20 RG58 Base pound sterling 5.44
PANORAMA PARTS:
25 M8 Base pound sterling 3.70
25 M8A Base pound sterling 4.90
10 High Gain Whip pound sterling 7.10
20 1/4 Wave Whip pound sterling 4.30
3 Magmount pound sterling Trade Price
BRACKETS:
3 Stand Off Bracket 24" pound sterling Trade Price
3 Stand Off Bracket 4" pound sterling Trade Price
5 Chimney Bracket pound sterling Trade Price
40 U Clamp pound sterling 0.75
7 Square Bolt pound sterling Trade Price
5 Cross Over Plate pound sterling Trade Price
</TABLE>
-53-
<PAGE> 54
<TABLE>
<CAPTION>
Number Description Price (each unit)
------ ----------- ----------------
<S> <C> <C>
DROPPERS:
ALFATRONIX:
20 PV6S pound sterling 23.75
10 PV61 pound sterling 33.93
15 AVEL LIMBURG pound sterling 26.00
25 Second Hand GP300 pound sterling 175.00 each
Radio with Charger
3 Kenwood TK713 NB3 Mobile pound sterling 125.00 each
4 FM1200 8 Button pound sterling 50.00 each
TAIT EQUIPMENT:
2 T200 Power Supply pound sterling Trade Price
5 T2015 Power Loom pound sterling Trade Price
5 T2016 Remote pound sterling Trade Price
10 T2002 Mic pound sterling Trade Price
10 TAIT 2030 radio (including those service pound sterling 105.00 each
spares issued to customers)
TAIT Desk Mic pound sterling Trade Price
PMR EQUIPMENT:
2 6 Way Radio Chargers Motorola pound sterling Trade Price
17 Carry Cases Motorola pound sterling Trade Price
2 Simoco LP15 + Charger pound sterling Trade Price
1 TAIT Orca + Charger pound sterling Trade Price
</TABLE>
-54-
<PAGE> 55
THE FIFTH SCHEDULE
WARRANTIES
1. THE VENDOR
Neither of the Vendors nor any of their families has any interest directly or
indirectly in any company or business other than the Business which is or is
likely to be or become competitive with the Business.
2. PRE-CONTRACT ENQUIRIES
2.1 The replies given on 4th January 1999 to the Purchaser's solicitors'
Pre-Contract Enquiries dated 23rd December 1998 are true and accurate
replies.
2.2 The replies given on 4th January 1999 to the Purchaser's solicitors'
Additional PreContract Enquiries are true and accurate replies.
2.3 The replies given on 7th January 1999 to the Purchaser's solicitors'
Further PreContract Enquiries dated 6th January 1999 are true and
accurate replies.
2.4 The content of the Vendors' letter to the Purchaser's solicitors dated
12th January 1999 is true and accurate.
3. VENDOR'S BOOKS AND RECORDS
3.1 All of the Vendors' accounts books ledgers financial and other records
of every kind relating to the Business have been fully and accurately
maintained in accordance with generally accepted accounting practices
and standards and to the best of the Vendors' knowledge and belief and
there are no material inaccuracies or discrepancies of any kind
contained or reflected in them or in any of them and they give and
reflect a true and fair view of the financial and contractual and
trading position of the Vendors in relation to the
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<PAGE> 56
Business and of its plant machinery and other fixed assets debtors
creditors stock-in-trade work-in-progress and other current assets and
liabilities in relation to the Business (including contingent
liabilities except those of which the Vendors having made all
reasonable and proper enquiries are unaware).
3.2 Without limiting paragraph 3.1 all proper records have been kept and
all proper returns and payments made as required by law for the
purposes of the enactments relating to VAT in connection with the
Business and the Vendors will not as at the Transfer Date be treated
nor at any time has been treated for the purpose of the said enactments
as a member of a group and no application shall have been made for such
treatment.
4. CONDUCT OF THE BUSINESS
Since 30th September 1998:
4.1 the Business has carried on in the ordinary and usual course and
without entering into any transaction assuming any liability of an
unusual nature or one which is not in the ordinary course of the
Business and without interruption or alteration in the nature scope or
manner of the Business;
4.2 there has been no material deterioration in the financial position or
prospects or turnover of the Business;
4.3 there has been no disposal of assets other than trading stock in the
ordinary course of trading;
4.4 the turnover of the Business measured both in terms of volume of goods
sold and in terms of value (taking due account of inflation) has not
been less than its turnover for the corresponding period of the
previous calendar year;
4.5 the turnover of the Business (excluding connection bonuses) for the
year ended 30th September 1998 was pound sterling 872,814.00 the
connection bonuses for the same period totalled pound sterling
67,859.00 and the gross profit for that period was pound sterling
336,288.00;
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<PAGE> 57
4.6 there has been no unusual increase in the stocks or work-in-progress of
the Business nor have any fixed assets or stocks of the Business been
written up or revalued nor will they be prior to the date of
Completion; and
4.7 the Vendors have not knowingly done or omitted to do anything which
might prejudicially affect the Goodwill or the Know-how.
5. CONSEQUENCE OF ACQUISITION OF THE BUSINESS BY THE PURCHASER
The acquisition of the Business and/or the Assets by the Purchaser or compliance
with the terms of this agreement will not so far as the Vendors are aware:
5.1 cause the Business to lose the benefit of any right or privilege it
presently enjoys or cause any person who normally does business with
the Business not to continue to do so on the same basis as previously;
5.2 relieve any person of any obligation to the Business or the Vendors in
respect of the Business (whether contractual or otherwise) or enable
any person to determine any such obligation or any right or benefit
enjoyed by the Business or to exercise any right whether under an
agreement with or otherwise in respect of the Business;
5.3 give rise to or cause to become exercisable any right of pre-emption
relating to the Business or any of the Assets; and
5.4 result in a breach of or constitute a default under (i) the terms
conditions or provisions of any agreement understanding arrangement or
instrument or (ii) any order judgement or decree of any court or
governmental agency to which the Vendor is a party or by which the
Vendor is bound in relation to the Business.
-57-
<PAGE> 58
6. ASSETS
6.1 The Vendors have good and marketable title to all the Assets and the
Vendors own absolutely all such Assets free from and not subject to any
agreement or commitment to give or create any mortgage charge lien
option bill of sale leasing agreement hire purchase agreement credit
sale or conditional sale agreement or any other incumbrance or claim of
any kind (excepting only liens arising in the ordinary course of
trading) and in particular none of the Stocks are subject to any
reservation of title in favour of any third party or purchased
generally on terms that ownership does not pass to the Vendors until
full payment is made by it to the supplier.
6.2 The Stocks have been fully paid for by the Vendor or will be fully paid
for by the Transfer Date and are of satisfactory quality readily
realisable and saleable at normal selling prices in the ordinary course
of the Business and include no obsolete obsolescent or slow-moving
items.
6.3 The Stocks the Equipment and the Hire Fleet comply in all material
respects with all applicable laws regulations codes of practice and
other similar controls and advice made or issued by national government
or by any other regulatory body and with all regulations and directives
made by the European Economic Community which relate to them.
6.4 No goods have been supplied by the Business within the last 2 years
which did not comply in all material respects with all applicable
(being applicable at the time of supply) laws regulations codes of
practice and other similar controls and advice made or issued by
national government or by any other regulatory body and with all
regulations and directives made by the European Economic Community
which applies to such goods at the time of supply.
6.5 No Asset is shared by the Business with any other person and the
Business does not depend for its business upon any assets facilities or
services owned or supplied by any third party.
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<PAGE> 59
6.6 The Third and Tenth Schedules contain full and accurate details of the
Equipment and Rental Fleet respectively.
6.7 The Stocks the Equipment and the Rental Fleet are in good repair and
condition and (where appropriate) have been regularly and properly
maintained and are fully serviceable.
7. THE BANK ACCOUNT
7.1 The Vendors have not charged or pledged nor have they created or
allowed to be created any lien over the monies from time to time
standing to the credit of the Bank Account.
7.2 No third party (including without limitation Midland Bank plc) has any
right of set off against the monies from time to time standing to the
credit of the Bank Account.
7.3 No third party (including without limitation Midland Bank plc) has the
right to draw from the monies from time to time standing to the credit
of the Bank Account.
7.4 Other than in respect of its usual charges in respect of the Bank
Account Midland Bank plc has no rights whatsoever to the monies from
time to time credited to the Bank Account.
8. SOLVENCY
The Vendors have not (either individually or jointly):
8.1 committed any act of bankruptcy; or
8.2 entered into any arrangement with or for the benefit of their
creditors; or
8.3 presented their own petitions in bankruptcy.
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<PAGE> 60
9. CONTRACTS
9.1 The Vendors are not in relation to the Business and/or the Assets a
party to or subject to any agreement transaction obligation commitment
understanding arrangement or liability including (without limitation)
the Contracts which:
9.1.1 involved agency distributorship franchising marketing rights
information sharing manufacturing rights servicing or
maintenance;
9.1.2 involves partnership joint venture consortium or similar
arrangements;
9.1.3 is for the supply of goods and/or services by or to the
Vendors on terms under which retrospective or future discounts
price reductions or other financial incentives are given by or
to the Vendors dependent on the level of purchases or any
other factor;
9.1.4 is not on arm's length terms or is in any way other than in
the ordinary and proper course of the Business;
9.1.5 other than for contracts is incapable of complete performance
in accordance with its terms within 6 months after the date on
which it was entered into or undertaken;
9.1.6 is known by the Vendors to have been likely to result in a
loss to the Vendors on completion of performance if the
Vendors had not sold the Business pursuant to this agreement;
9.1.7 cannot readily be fulfilled or performed by the Purchaser on
time and without undue or unusual expenditure of money and
effort;
9.1.8 other than in respect of work carried out between the exchange
of a contract and completion of that contract is a contract
under which payment has already been received by the Vendors
but which requires the performance of services by the
Purchaser after the date of Completion;
9.1.9 involves or is likely to involve obligations restrictions
expenditure or receipts of an unusual onerous or exceptional
nature and not in the ordinary course of the Business;
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<PAGE> 61
9.1.10 other than normal leasing agreements in respect of motor
vehicles is a lease loan agreement debenture guarantee or
indemnity or a letter of credit or a contract for hire or rent
hire purchase or purchase by way of credit sale or periodical
payment;
9.1.11 will require consideration payable by the Purchaser;
9.1.12 involves or is likely to involve the supply of services by the
Purchaser the aggregate value of which will represent in
excess of 5 % of the turnover for the last accounting period
of the Vendors,
9.1.13 will require the Purchaser to pay any commission finder's fees
royalty or similar payment; or
9.1.14 in any way restricts the Vendors' freedom to carry on the
whole or any part of the Business in any part of the United
Kingdom or elsewhere in such manner as it thinks fit.
9.2 In respect of the Contracts:
9.2.1 the only contracts which the Purchaser will be taking are
those identified in the First Schedule hereto and in the
Disclosure Letter; and
9.2.2 each of the Contracts has been made in the terms of the
Vendors' standard terms of contract annexed hereto marked "H".
9.3 The Vendors have not in relation to the Business contracted to supply
any goods or services after the Transfer Date other than in respect of
airtime.
10. INVOICES
10.1 Save for those customers listed on the list to be handed to the
Purchaser pursuant to clause 7.1.3 of this Agreement the Vendors have
invoiced all the airtime customers of the Business for airtime which is
to be supplied to those customers for the period on and from the
Transfer Date to and including 31st March 1999.
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<PAGE> 62
10.2 The invoices referred to in clause 7.1.1 of this Agreement fall into
one or other of the two classes of invoice mentioned below:
10.2.1 invoices for the provision of airtime solely during the month
of March 1999; or
10.2.2 invoices for the provision of airtime during the months of
January February and March 1999.
11. DEFAULTS
Neither the Vendors nor any other party to any agreement or arrangement to which
the Vendors are a party (including the Contracts) is in default under such
agreement or arrangement nor has any threat or claim of any such default been
made by or notified to the Vendors nor (as far as the Vendors are aware) are
there any circumstances likely to give rise to such a default.
12. POWERS OF ATTORNEY
There are in force no powers of attorney given by the Vendors in connection with
the conduct of the Business. No person as agent or otherwise is entitled or
authorised to enter into any contract commitment or obligation on behalf of the
Business not in the ordinary course of the Business.
13. STATUTORY RESTRICTIONS
13.1 No agreement practice or arrangement carried on by the Vendors and
relating to the Business or its Assets:
13.1.1 is or requires to be registered in accordance with the
provisions of the Restrictive Trade Practices Acts 1976 and
1977 or contravenes the provisions of the Resale Prices Act
1976 or is or has been the subject of any enquiry
investigation or proceeding in respect of the same;
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<PAGE> 63
13.1.2 is or has been the subject of an enquiry investigation
reference or report under the Fair Trading Act 1973 (or any
previous legislation relating to monopolies or mergers) or the
Competition Act 1980;
13.1.3 infringes the EEC Treaty Article 85 or constitutes an abuse of
dominant position contrary to the EEC Treaty Article 86 or
infringes any Regulation or other enactment made under the EEC
Treaty Article 87 or is or has been the subject of any enquiry
investigation or proceeding in respect of the same;
13.1.4 is by virtue of its terms or by virtue of any practice for the
time being carried on in connection with it a 'comsumer trade
practice' within the meaning of the Fair Trading Act 1973
Section 13 and susceptible to or under reference to the
Consumer Protection Advisory Committee or the subject matter
of a report to the Secretary of State or the subject matter of
an order by the Secretary of State under the provisions of
Part II of that Act;
13.1.5 will contravene the provisions of the Competition Act 1998;
13.1.6 infringes any other competition anti-restrictive trade
practice anti-trust or consumer protection law or legislation
applicable in the United Kingdom or elsewhere and not
specifically mentioned in this paragraph 13.1; or
13.1.7 contravenes the provisions of the Trade Descriptions Acts 1968
and 1972 or the Consumer Credit Act 1974 or the Financial
Services Act 1986.
13.2 The Vendors have not given any undertaking to the Restrictive Practices
Court or the Director General of Fair Trading or the Secretary of State
for Trade and Industry or the EC Commission or the Court of Justice of
the European Communities or to any other court person or body.
14. EXISTING SUPPLIERS AND CUSTOMERS
14.1 Other than the Contracts there are no other contracts agreements or
commitments whether conditional or unconditional and no arrangements or
undertakings whether legally binding or not relating to the Business
which are material in relation to the Business or
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<PAGE> 64
which the Purchaser would require to enable it to carry on the Business
in the same manner as previously carried on by the Vendors.
14.2 During the 12 months ending on the Transfer Date there has been no
substantial change in the bases or terms on which any person is
prepared to enter into contracts or do business with the Vendors in
respect of the Business (apart from normal price changes) and no
contractual rights and obligations of the Vendors in relation to the
Business will terminate by virtue of this agreement.
15. BUSINESS NAME(S)
The Vendor uses no name for any purpose in connection with the Business other
than Pro-comm Radio Communications and/or Pro-comm Radio Rentals Limited.
16. DISCLOSURE OF TRADE SECRETS
The Vendors have not (except in the ordinary and normal course of business)
disclosed or permitted to be disclosed or undertaken or arranged to disclose to
any person other than the Purchaser any of its Know-how trade secrets
confidential information price lists or customers or suppliers relating to the
Business.
17. INSURANCE
17.1 All the Assets which are capable of being insured are insured to their
full reinstatement or value in accordance with generally accepted
practice with a well established and reputable insurer against all
risks customarily insured against in respect of assets and property of
such description.
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<PAGE> 65
17.2 There are in force policies of insurance against all other risks and
liabilities (including but not limited to products liability and
consequential loss of profits) usually covered by insurance by persons
carrying on business of the same type as the Business.
17.3 To the best of the Vendors' knowledge information and belief there are
no circumstances which could lead to any such insurance being revoked
vitiated or not renewed in the ordinary course.
18. LITIGATION
18.1 The Vendors are not engaged in connection with the Business whether as
defendants or plaintiffs in any litigation or arbitration or
prosecution or other legal proceedings and in particular with any
substantial customer or customers of the Business and to the best of
its knowledge and belief there are no facts which are likely to give
rise to the same and the Vendors have not been a party to any
undertaking or assurance given to any court or governmental agency
relating to the Business and/or its Assets which is still in force.
18.2 There has been no exercise purported exercise or claim for any charge
lien incumbrance or equity over any of the Assets and there is no
dispute directly or indirectly relating to any of such Assets.
19. EMPLOYEES
19.1 Full and accurate details have been supplied to the Purchaser as to the
Employees' ages length of service rates of remuneration bonus and
commission benefits in kind periods of notice pension and other rights
under any retirement benefits life assurance or hospital insurance
scheme of the Vendors. Such detail will remain true and accurate at
Completion and the Vendors are not under any legal or moral commitment
to change or vary any of such details and will not prior to Completion
enter into any such commitment. The information contained in the second
schedule is true and correct in all respects and no other persons are
employed by the Vendors in connection with the
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<PAGE> 66
Business. There are no schemes either in operation or proposed whereby
any of the Transferring Employees is or is to be entitled to any
commission or remuneration of any sort calculated by reference to the
turnover profit or sales of the Vendors.
19.2 All accrued holiday pay due to any of the Transferring Employees up to
the date of Completion is set out in the second schedule to the
Disclosure Letter.
19.3 No liability has been incurred by the Vendors and not yet been
discharged for breach of any contract of service or employment or for
redundancy payments (including protective awards) or for damages or
compensation for wrongful dismissal or unfair dismissal or otherwise or
for failure to comply with any order for reinstatement or re-engagement
of any Employee engaged in connection with the Business or for the
actual or proposed termination or suspension of employment or variation
of any contract of employment of any present or former employee of the
Vendors employed in connection with the Business.
19.4 The Vendors have in relation to each Employee complied in all material
respects with:
19.4.1 all obligations imposed on them by all statutes regulations
and codes of conduct and practice relevant to the relations
between it and any Employee (including without limitation any
obligations under any health and safety legislation or any
legislation relating to the environment);
19.4.2 all customs and practices for the time being dealing with
relations between the Vendors and any Employee or the terms
and conditions of service of any of the Employees; and
19.4.3 all relevant orders declarations and awards made under any
relevant statute regulation or codes of conduct and practice
affecting the conditions of service of any of the Employees.
19.5 There are not in existence any contracts of employment between the
Vendors and any of the Employees nor any consultancy agreements between
the Vendors and any of the Employees which cannot be terminated by 3
months' notice or less or (where not reduced in writing) by reasonable
notice without giving rise to any claim for damages or compensation
(other than a statutory redundancy payment or statutory compensation
for
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<PAGE> 67
unfair dismissal). Save in respect of the Excluded Employees the
Vendors have not given nor received any notice to terminate any
contract of employment of any of the Employees or any other person
employed in the Business which expires on or after the date of
Completion.
19.6 The Vendors have not offered and will not prior to Completion offer a
contract of employment or for services to any person.
19.7 To the Vendors knowledge none of the Transferring Employees are a
member of a Trades Union and the Vendors have not entered into any
collective agreement in respect of the Transferring Employees.
20. PENSIONS
There are not in existence nor has any proposal been announced or moral
commitment given to establish any retirement death or disability benefit schemes
for Employees or obligations to or in respect of Employees with regards to
retirement death or disability pursuant to which the Vendors are or may become
liable to make payments and no pension or retirement or sickness gratuity is
currently being paid or has been promised by the Vendors to or in respect of any
Employee.
21. CAPITAL TAXES
21.1 There is no capital transfer tax or inheritance tax which is a charge
on any of the Assets or gives rise to a power to sell mortgage or
charge any of the Assets.
21.2 There has been no transfer of value or deemed transfer of value which
(whether or not in conjunction with the death of any person whenever
occurring) is capable of giving rise to such a power to sell mortgage
or charge any of the Assets.
21.3 In determining for the purposes of paragraphs 21.1 and 21.2 whether a
charge on or power to sell mortgage or charge any of the Assets exists
at any time the fact that any tax is not yet payable or may be paid by
installments shall be disregarded and such tax shall be
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<PAGE> 68
treated as becoming due and a charge or power to sell mortgage or
charge as arising on the date of transfer of value or other date or
event on or in respect of which it becomes payable or arises.
22. LICENCES AND CONSENTS
22.1 The Vendors have obtained all necessary licences and consents from any
person authority or body for the proper carrying on of the Business and
is not in breach of any of their terms or conditions.
22.2 Details of all such licences and consents are set out in the Disclosure
Letter and the Vendors know of no reason why they should not be capable
of being transferred to or obtained by the Purchaser without the
necessity for any special arrangement or expense.
23. GRANTS
The Vendors have not applied for or received any financial assistance from any
national or local authority or governmental agency in connection with the
Business.
24. MATERIAL INFORMATION
24.1 To the best of the Vendors' knowledge information and belief there is:
24.1.1 no fact or matter material to the value of the Assets or
materially affecting the aggregate value of such Assets; and
24.1.2 no fact or matter materially affecting the trading of the
Business which has not been disclosed to the Purchaser and the
disclosure of which might reasonably be expected materially to
affect the willingness of the Purchaser to purchase such
Assets at the aggregate price or the terms upon which the
purchase is made (on the basis that the Purchaser will use
such Assets for the purpose of carrying on the Business).
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<PAGE> 69
24.2 The information contained in the recitals and the schedules to this
agreement and the Disclosure Letter and all other information in
writing given by or on behalf of the Vendors to the Purchaser any of
its directors officers agents or employees or the Purchaser's
professional advisers in the course of the negotiations leading to this
agreement was when given and will at the date of Completion remain true
complete and accurate in all respects and to the best of its knowledge
and belief the Vendors are not aware of any fact or matter not in the
public domain in relation to the Business which would render any such
information untrue incomplete inaccurate or misleading.
25. INVESTMENTS ASSOCIATIONS AND BRANCHES
The Vendors are not and/or have not been a party to any joint venture or
consortium or any partnership arrangement or agreement or to any agreement or
arrangement for share commissions or other income relating to the Business.
26. GUARANTEES AND WARRANTIES
The Vendors have not given any guarantee indemnity or warranty or made any
representation in respect of any goods or services sold or supplied or
contracted to be sold or supplied by it or in respect of any other aspect of the
Business save for any guarantee indemnity or warranty implied by law and save
for any guarantee indemnity or warranty set out in the Vendors' standard terms
of contract annexed hereto and (save as aforesaid) has not accepted any
liability or obligation to service repair maintain take back or otherwise do or
not do anything in respect of any goods or services that would apply after any
such goods or services have been delivered or supplied by it in connection with
the Business.
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<PAGE> 70
27. AGREEMENTS CONCERNING THE BUSINESS
The Vendors have not been a party to any agency distributorship franchise
marketing purchasing manufacturing or licensing agreement or arrangement
relating to or affecting the Business or any part of it.
28. OFFERS
No offer or tender relating to the Business which is capable of being converted
into an obligation of the Business by an acceptance of other act of some other
person is outstanding.
29. DEFECTIVE PRODUCTS
The Vendors have not knowingly supplied goods which were or are or will become
faulty or defective or which did not or do not comply with any warranties or
representations expressly or impliedly made by the Vendors or with all
applicable laws regulations standards and requirements.
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<PAGE> 71
THE SIXTH SCHEDULE
THE RENTAL FLEET
<TABLE>
<CAPTION>
Customer ID. Radio Type Serial No. Call Sign
------------ ---------- ---------- ---------
<S> <C> <C> <C>
A 012 PRM 8070 IPN399311364614 20
A 012 PRM 8060 IPN239234002005 21
A 029 PRM 8060 IPN3A96123D1674 26
A 029 PRM 8060 IPN499632304671 27
A 040 PRM 8070 20
A 040 PRM 8060 IPN289445344910 21
A 040 PRM 8060 IPN289445344907 22
A 040 PRM 8060 IPN289445344915 23
A 040 PRM 8060 IPN289445344913 24
A 040 PRM 8060 IPN289445344911 25
A 040 PRM 8060 IPN289445344916 26
A 040 PRM 8060 IPN289445344912 27
A 040 PRM 8060 IPN269412349761 28
A 040 PRM 8060 IPN3995273B1349 29
A 040 PRM 8060 IPN5B9704309405 30
A 040 PRM 8060 IPN5B9703309331 31
A 046 PRM 8070 IPN289443354334 20
A 046 PRM 8060 IPN4A9632304832 21
A 046 PRM 8060 IPN289448346998 22
A 046 PRM 8060 IPN289448347418 23
A 046 PRM 8060 IPN289448347001 24
A 046 PRM 8060 IPN289448347003 25
A 046 PRM 8060 IPN4A9632304840 26
A 046 PRM 8060 IPN399513345922 27
A 046 PRM 8060 IPN4A9614302506 28
A 046 PRM 8060 IPN4A9614302484 29
A 046 PRM 8060 IPN269420343606 30
A 046 PRM 8060 IPN289448347395 31
A 046 PRM 8060 IPN399522340566 32
A 046 PRM 8060 IPN5B97433H6828 33
A 046 PRM 8060 IPN5B9747347518 34
A 049 PRM 8070 IPN5B9728344366 20
A 049 PRM 8060 IPN5B9712341921 21
A 049 PRM 8060 IPN5B9738346063 22
</TABLE>
-71-
<PAGE> 72
<TABLE>
<CAPTION>
Customer ID. Radio Type Serial No. Call Sign
------------ ---------- ---------- ---------
<S> <C> <C> <C>
A 049 PRM 8060 IPN5B9738346844 23
A 049 PRM 8060 IPN5B97123H1929 24
A 049 PRM 8060 IPN5B97123H1928 25
A 049 PRM 8060 IPN5B97123H1922 26
A 049 PRM 8060 IPN5B97383H6045 27
A 049 PRM 8060 IPN5B97383H6073 28
A 049 PRM 8060 IPN5B97383H6074 29
A 049 PRM 8060 IPN5B97383H6071 30
A 049 PRM 8060 IPN5B97383H6043 31
A 049 PRM 8060 IPN5B97383H6061 32
A 054 PRM 8070 IPN28944335H333 20
A 054 TAIT T 545 T259354 21
A 054 TAIT T 545 T249748 22
A 054 TAIT T 545 T260380 23
A 054 TAIT T 545 T259303 24
A 054 TAIT T 545 T259987 25
A 054 TAIT T 545 T260718 26
A 054 TAIT T 545 T260920 27
A 054 PRM 8060 IPN589751348664 28
A 054 PRM 8060 IPN5897513H8654 29
A 055 PRM 8070 IPN3995273B1341 20
A 055 PRM 8060 IPN4996173D3042 21
A 055 PRM 8060 IPN399502349070 22
A 055 PRM 8060 IPN399503349617 23
A 055 PRM 8060 IPN399503349612 24
A 055 PRM 8060 IPN399503349615 25
A 055 PRM 8060 IPN4A9633304958 26
A 055 PRM 8060 IPN5B96403D5548 27
A 055 PRM 8060 IPN5B9640305565 28
A 055 PRM 8060 IPN399502349031 29
A 055 PRM 8060 IPN399503349625 30
A 055 PRM 8060 IPN4A96193D3258 31
A 055 PRM 8060 IPN5B96403D5550 32
D 006 PRM 8070 20
D 006 PRM 8060 IPN399513345925 21
D 006 PRM 8060 IPN3A9612301673 22
D 006 PRM 8060 IPN269314364415 23
D 006 PRM 8060 IPN5B9743346796 24
D 006 PRM 8060 25
P 023 PRM 8070 20
P 023 TAIT T 2040 T105447 21
</TABLE>
-72-
<PAGE> 73
<TABLE>
<CAPTION>
Customer ID. Radio Type Serial No. Call Sign
------------ ---------- ---------- ---------
<S> <C> <C> <C>
P 023 PRM 8060 IPN4A9616302729 22
P 023 PRM 8060 IPN5B9640305552 23
P 023 PRM 8060 IPN399502349066 24
P 023 PRM 8060 IPN399522340805 25
P 023 PRM 8060 26
P 023 PRM 8060 IPN3995243B07666 27
P 023 PRM 8060 IPN399513345323 28
P 023 PRM 8060 IPN4A96323D4816 29
</TABLE>
-73-
<PAGE> 74
SIGNED by the said MARK LAWRENCE /s/ Mark Lawrence Temple
TEMPLE as his Deed in the presence of:
Queens Keep
1-4, Cumberland Place
Southampton
SIGNED by the said ANDREW ROBERT /s/ Andrew Robert Temple
TEMPLE as his Deed in the presence of:
SIGNED as its Deed for and on behalf of
HUGO INTERNATIONAL LIMITED
Director /s/ D. W Foden
Director /s/ B. Gundry
SIGNED BY THE SAID DAVID FODEN /s/ D. W. Foden
as his Deed in the presence of:
/s/ A.W. Spurr
A. W. Spurr
-74-
<PAGE> 75
THIS ASSIGNMENT made 19th March 1999
BETWEEN:
(1) MARK LAWRENCE TEMPLE of 10a Coultas Road Hiltingbury Chandlers Ford
Hampshire SO53 5BD and ANDREW ROBERT TEMPLE of 77 Park Road Chandlers Ford
Hampshire SO53 2EL ("the Assignors") and
(2) HUGO INTERNATIONAL LIMITED (registered in England No. 02757256) whose
registered office is at 122A Nelson Road Whitton Twickenham Middlesex TW2
7AY ("the Assignee")
RECITALS
(1) The Assignors are the owners of the goodwill in relation to the Business as
defined in an agreement made on 8th March 1999 ("the Agreement") between
the parties hereto which includes the use of the customer lists and order
books and also the right for the Assignee to hold itself out as successor
in the Business to the Assignors ("the Goodwill")
(2) Pursuant to the terms of the Agreement the Assignors have agreed to assign
to the Assignee such right title and interest as the Assignors have in the
Goodwill and such copyright on the terms set out below
IT IS AGREED AS FOLLOWS:
1. ASSIGNMENT
IN consideration of the sum of Pound Sterling565,697.00 now paid by the
Assignee to the Assignors (the receipt whereof the Assignors hereby
acknowledge) the Assignors ASSIGN the Goodwill to the Assignee with full
title guarantee TO HOLD the same unto the Assignee absolutely:
AS WITNESS signed by the Assignors the day and year first above written
<PAGE> 76
SIGNED by the said
MARK LAWRENCE TEMPLE
/s/ Mark Lawrence Temple
SIGNED by the said
ANDREW ROBERT TEMPLE
/s/ Andrew Robert Temple
<PAGE> 77
THIS ASSIGNMENT MADE 19th MARCH 1999
BETWEEN:
(1) MARK LAWRENCE TEMPLE of l0a Coultas Road Hiltingbury Chandlers Ford
Hampshire SO53 5BD and ANDREW ROBERT TEMPLE OF 77 Park Road Chandlers Ford
Hampshire SO53 2EL ("the Assignors") and
(2) HUGO INTERNATIONAL LIMITED (registered in England No. 02757256) whose
registered office is at 122A Nelson Road Whitton Twickenham Middlesex TW2
7AY ("the Assignee")
RECITALS
(1) By an agreement made between the parties on 8th March 1999 ("the
Agreement") the Assignors agreed (inter-alia) to assign to the Assignee the
benefit and burden of the contracts particulars of which are set out in the
Schedule hereto ("the Contracts")
(2) The parties enter into the Assignment pursuant to the terms of the
Agreement
OPERATIVE PART
1. IN consideration of the sum of Pound Sterling1.00 now paid to the Assignors
by the Assignee (the receipt whereof the Assignors hereby acknowledge) the
Assignors with full title guarantee HEREBY ASSIGN unto the Assignee all the
Contracts and the full benefit of the same and all the Assignors' right
title and interest therein and all money payable or to become payable under
them and all other rights and benefits whatever accruing thereunder to the
Assignors TO HOLD to the Assignee absolutely but subject to the due
discharge and performance and observance by the Assignee (subject to the
provisions of clause 4) of all the obligations and liabilities of the
Assignors created by or arising by reason of some non-performance of the
Contracts on or after the date of this Assignment
2. THE Assignee covenants with the Assignors that the Assignee will proceed
with the provision of services in accordance with the terms and conditions
imposed upon the
<PAGE> 78
Assignors by the Contracts and will be subject to the provisions of clause
4 in the future duly discharge perform and observe all the liabilities
obligations and stipulations of the Assignors as on the part of the
Assignors to be performed or observed created by or arising by reason of
the Contracts
3. The Assignee further covenants with the Assignors to indemnify the
Assignors and keep them fully indemnified against all liabilities losses
actions proceedings costs claims demands and expenses brought or made
against or incurred by the Vendors in respect of the non-performance or
defective or negligent performance by the Assignee of the Contacts subject
nevertheless to the provisions of clause 4
4. The Assignors jointly and severally covenant with the Assignee to indemnify
the Assignee against any and all claims actions proceedings demands
liabilities costs and expenses arising after the date of this Agreement in
respect of any goods or services supplied by the Assignors pursuant to the
Contracts prior to the date of this Assignment including (but without
prejudice to the generality of the foregoing) any liability (including
costs) in respect of any defective goods supplied by the Vendors prior to
the date of this Assignment.
IN WITNESS whereof signed and delivered by the parties as their Deed the day
and year first above written
<PAGE> 79
THE SCHEDULE
<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------------------------------
Contract Number Date Party Contracting With Assignors
-------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
A 008/1 19-12-96 SHERIFF
-------------------------------------------------------------------------------------------------------------------------------
A 008/2 Undated SHERIFF BUILDING SYSTEMS
-------------------------------------------------------------------------------------------------------------------------------
A 011/1 09-09-97 A.K. WORTHINGTON LIMITED
-------------------------------------------------------------------------------------------------------------------------------
A 011/2 20-09-97 A.K. WORTHINGTON LIMITED
-------------------------------------------------------------------------------------------------------------------------------
A 011/3 23-02-98 A.K. WORTHINGTON LIMITED
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
A 012 18-09-98 A1 SKIP HIRE
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
A 014/1 18-02-94 AARDVARK CLEANING CO. LTD.
-------------------------------------------------------------------------------------------------------------------------------
A 014/2 21-03-97 AARDVARK HOLDINGS LIMITED
-------------------------------------------------------------------------------------------------------------------------------
A 014/3 Undated AARDVARK HOLDINGS LIMITED
-------------------------------------------------------------------------------------------------------------------------------
A 014/4 15-09-98 AARDVARK HOLDINGS LIMITED
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
A 015 Undated B. CASSIDDY & D. RICHARDSON
-------------------------------------------------------------------------------------------------------------------------------
Trading As ABLE COURIERS
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
A 016 22-11-93 R. SANDU Trading As ACCLAIM HEATHROW
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
A 017 16-05-96 ACCLAIM PARCEL EXPRESS (SUSSEX) LTD.
-------------------------------------------------------------------------------------------------------------------------------
A 017 11-08-98 ACCLAIM PARCEL EXPRESS (SUSSEX) LTD.
-------------------------------------------------------------------------------------------------------------------------------
A 018 11-06-97 ACCLAIM PARCELS SOUTHAMPTON
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
A 019/1 18-01-94 AIR ACTION COURIERS LIMITED
-------------------------------------------------------------------------------------------------------------------------------
A 019/2 16-10-97 AIR ACTION COURIERS
-------------------------------------------------------------------------------------------------------------------------------
A 019/3 17-06-97 AIR ACTION COURIERS
-------------------------------------------------------------------------------------------------------------------------------
A 019/4 5-02-98 AIR ACTION COURIERS
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
A 021/1 4-08-97 AIRLIFT SEALIFT LIMITED
-------------------------------------------------------------------------------------------------------------------------------
A 021/2 7-01-98 AIRLIFT SEALIFT INTERNATIONAL LTD.
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
A 024 23-11-98 AMTRAK EXPRESS PARCELS CHRISTCHURCH
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
A 025/1 Undated AMTRAK - CROYDON
-------------------------------------------------------------------------------------------------------------------------------
A 025/2 Undated P AND L WARREN Trading As AMTRAK - CROYDON
-------------------------------------------------------------------------------------------------------------------------------
A 025/3 09-09-97 P AND L WARREN Trading As AMTRAK - CROYDON
-------------------------------------------------------------------------------------------------------------------------------
A 025/4 12-09-98 P AND L WARREN Trading As AMTRAK - CROYDON
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
A 026/1 25-04-94 DASH (LONDON) LIMITED Trading As AMTRAK (ENFIELD)
-------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 80
<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------------------------------
Contract Number Date Party Contracting With Assignors
-------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
A 026/2 Undated DASH (LONDON) LIMITED Trading As AMTRAK (ENFIELD)
-------------------------------------------------------------------------------------------------------------------------------
A 026/3 Undated DASH (LONDON) LIMITED Trading As AMTRAK (ENFIELD)
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
A 028/1 06-03-97 FASTTRAK PARCEL SERVICES LIMITED Trading As AMTRAK EXPRESS PARCELS
-------------------------------------------------------------------------------------------------------------------------------
A 028/2 Undated FASTTRAK PARCEL SERVICES LIMITED Trading As AMTRAK GUILDFORD
-------------------------------------------------------------------------------------------------------------------------------
A 028/3 14-09-98 FASTTRAK PARCEL SERVICES LIMITED Trading As AMTRAK GUILDFORD
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
A 029 04-03-98 CARGO FAST LIMITED Trading As AMTRAK HIGH WYCOME
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
A 030/1 13-06-94 C.M.C. SERVICES
-------------------------------------------------------------------------------------------------------------------------------
A 030/2 27-06-95 C.M.C. SERVICES
-------------------------------------------------------------------------------------------------------------------------------
A 030/3 12-04-96 C.M.C. SERVICES
-------------------------------------------------------------------------------------------------------------------------------
A 030/4 27-08-96 C.M.C. SERVICES Trading As AMTRAK KINGSTON
-------------------------------------------------------------------------------------------------------------------------------
A 030/5 03-02-97 C.M.C. SERVICES Trading As AMTRAK KINGSTON
-------------------------------------------------------------------------------------------------------------------------------
A 030/6 24-03-97 C.M.C. SERVICES
-------------------------------------------------------------------------------------------------------------------------------
A 030/7 27-01-98 C.M.C. SERVICES Trading As AMTRAK KINGSTON
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
A 031/1 21-05-97 CAMRIC INDUSTRIES Trading As AMTRAK MILTON KEYNES
-------------------------------------------------------------------------------------------------------------------------------
A 031/2 30-03-98 CAMRIC INDUSTRIES Trading As AMTRAK MILTON KEYNES
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
A 032 Undated IMPACT COURIERS Trading As AMTRAK COVENTRY
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
A 033/1 24-02-97 MJ HORLEY Trading As AMTRAK EXPRESS STEVENAGE
-------------------------------------------------------------------------------------------------------------------------------
A 033/2 Undated MJ HORLEY Trading As AMTRAK STEVENAGE
-------------------------------------------------------------------------------------------------------------------------------
A 033/3 15-06-98 MJ HORLEY Trading As AMTRAK EXPRESS STEVENAGE
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
A 034/1 8-11-94 JK BOWEN Trading As AMTRAK WIGAN
-------------------------------------------------------------------------------------------------------------------------------
A 034/2 20-08-96 JK BOWEN Trading As AMTRAK WIGAN
-------------------------------------------------------------------------------------------------------------------------------
A 034/3 10-10-96 JK BOWEN Trading As AMTRAK WIGAN
-------------------------------------------------------------------------------------------------------------------------------
A 034/4 Undated JK BOWEN Trading As AMTRAK WIGAN
-------------------------------------------------------------------------------------------------------------------------------
A 034/5 27-03-98 JK BOWEN Trading As AMTRAK WARRINGTON AND WIGAN
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
A 036 09-09-97 NUMITOR LIMITED Trading As ANC BIRMINGHAM CENTRAL
-------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 81
<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------------------------------
Contract Number Date Party Contracting With Assignors
-------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
-------------------------------------------------------------------------------------------------------------------------------
A 037/1 20-12-94 ROADGOLD LIMITED Trading As ANC BRIMINGHAM NORTH EAST
-------------------------------------------------------------------------------------------------------------------------------
A 037/2 24-06-96 ROADGOLD LIMITED Trading As ANC BRIMINGHAM NORTH EAST
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
A 038 30-03-98 A & A TRADING (MIDLANDS) LIMITED Trading as ANC WEST MIDLANDS
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
A 039/1 10-12-93 ANC- BRACKLEY (1991) LIMITED
-------------------------------------------------------------------------------------------------------------------------------
A 039/2 30-11-94 ANC- BRACKLEY (1991) LIMITED
-------------------------------------------------------------------------------------------------------------------------------
A 039/3 24-04-95 ANC- BRACKLEY (1991) LIMITED
-------------------------------------------------------------------------------------------------------------------------------
A 039/4 15-09-95 ANC- BRACKLEY (1991) LIMITED
-------------------------------------------------------------------------------------------------------------------------------
A 039/5 03-01-96 ANC- BRACKLEY (1991) LIMITED
-------------------------------------------------------------------------------------------------------------------------------
A 039/6 04-01-97 ANC- BRACKLEY (1991) LIMITED
-------------------------------------------------------------------------------------------------------------------------------
A 039/7 Undated ANC- BRACKLEY (1991) LIMITED
-------------------------------------------------------------------------------------------------------------------------------
A 039/8 Undated ANC- BRACKLEY (1991) LIMITED
-------------------------------------------------------------------------------------------------------------------------------
A 039/9 20-01-98 ANC- BRACKLEY (1991) LIMITED
-------------------------------------------------------------------------------------------------------------------------------
A 039/10 22-07-98 ANC- BRACKLEY (1991) LIMITED
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
A 040/1 19-11-94 ANC - WORTHING
-------------------------------------------------------------------------------------------------------------------------------
A 040/2 24-07-96 IDEALQUICK LIMITED Trading As ANC BRIGHTON
-------------------------------------------------------------------------------------------------------------------------------
A 040/3 07-04-97 IDEALQUICK LIMITED Trading As ANC BRIGHTON
-------------------------------------------------------------------------------------------------------------------------------
A 040/4H 19-11-94 ANC WORTHING
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
A 041/1 06-03-95 ANC CHILTERN LIMITED
-------------------------------------------------------------------------------------------------------------------------------
A 041/2 10-01-99 ANC CHILTERN LIMITED
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
A 042 27-03-96 BONADALE LIMITED Trading as ANC COVENTRY
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
A 043 08-03-97 BONADALE LIMITED Trading as ANC COVENTRY
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
A 045 21-02-95 GALEGA LIMITED Trading As ANC EAST LONDON
-------------------------------------------------------------------------------------------------------------------------------
A 048 19-01-99 MRS J. NORTH Trading As ANC KINGS LYNN
-------------------------------------------------------------------------------------------------------------------------------
A 048/1 25-07-94 MR AND MRS J NORTON Trading As ANC KINGS LYNN
-------------------------------------------------------------------------------------------------------------------------------
A 048/2 06-12-96 MRS J NORTON Trading As ANC KINGS LYNN
-------------------------------------------------------------------------------------------------------------------------------
A 048/3 01-06-98 MRS J NORTON Trading As ANC KINGS LYNN
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
A 050 09-03-98 VALE PARONE LIMITED Trading As ANC NORTHAMPTON
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 82
<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------------------------------
Contract Number Date Party Contracting With Assignors
-------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
A 051/1 20-03-96 ANC PORTSMOUTH
-------------------------------------------------------------------------------------------------------------------------------
A 051/2 11-12-96 J R M SPECIAL DELIVERY SERVICE LIMITED Trading As ANC PORTSMOUTH
-------------------------------------------------------------------------------------------------------------------------------
A 051/3 Undated J R M SPECIAL DELIVERY SERVICE LIMITED Trading As ANC PORTSMOUTH
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
A 053 10-07-98 REID LOGISTICS LIMITED Trading As ANC SOUTHAMPTON
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
A 054 21-07-98 SURRIDGE DAWSON LIMITED Trading As ANC SWINDON
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
A 055 22-10-96 CLASSLIST LIMITED Trading As ANC WARRINGTON
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
A 056/1 30-09-96 ANDREW MORRISSON CRANE Trading As ANDY CRANE TRANSPORT
-------------------------------------------------------------------------------------------------------------------------------
A 056/2 22-12-96 ANDREW MORRISSON CRANE Trading As ANDY CRANE TRANSPORT
-------------------------------------------------------------------------------------------------------------------------------
A 056/3 Undated A P MORRISSON CRANE Trading As ANDY CRANE TRANSPORT
-------------------------------------------------------------------------------------------------------------------------------
A 056/4 20-10-98 ANDY CRANE TRANSPORT LIMITED
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
A 058 Undated AROUND THE CLOCK DELIVERIES LIMITED
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
A 059/1 28-08-97 ASTONS OF DUDLEY LIMITED
-------------------------------------------------------------------------------------------------------------------------------
A 059/2 Undated ASTONS OF DUDLEY LIMITED
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
B 001/1 08-05-96 RB AND K WORTHINGTON Trading As B AND K BOILER SERVICES
-------------------------------------------------------------------------------------------------------------------------------
B 001/2 28-06-96 B AND K BOILER SERVICES
-------------------------------------------------------------------------------------------------------------------------------
B 001/3 Undated B AND K BOILER SERVICES
-------------------------------------------------------------------------------------------------------------------------------
B 001/4 Undated B AND K BOILER SERVICES
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
B 002 25-10-97 BD FUELS LIMITED
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
B 003 Undated BKP ENVIRONMENTAL SERVICES
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
B 005 (6)/3 Undated BEE TEE ALARMS LIMITED
-------------------------------------------------------------------------------------------------------------------------------
B 005 (6)/4 16-04-98 BEE TEE ALARMS LIMITED
-------------------------------------------------------------------------------------------------------------------------------
B 005 (6)/5 01-10-98 BEE TEE ALARMS
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
B 008 20-09-95 R LAMB Trading as BIDEYS MINISKIPS
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 83
<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------------------------------
Contract Number Date Party Contracting With Assignors
-------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
B 009 22-10-98 BOARHUNT GARAGE
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
B 010/1 01-03-96 BRACKNELL REFRIGERATION SERVICES LIMITED
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
B 010/2 12-04-96 BRACKNELL REFRIGERATION SERVICES LIMITED
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
B 011/1 28-03-96 BUCKDALE GARAGE LIMITED
-------------------------------------------------------------------------------------------------------------------------------
B 011/2 21-05-98 BUCKDALE GARAGE LIMITED
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
B 012 21-10-98 BUDGET SKIPS
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
B 013/1 05-09-96 Burton Despatch Limited
-------------------------------------------------------------------------------------------------------------------------------
B 013/2 Undated Burton Despatch Limited
-------------------------------------------------------------------------------------------------------------------------------
B 013/3 Undated Burton Despatch Limited
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
B 014/1 27-10-95 BURTON INTERNATIONAL PLC
-------------------------------------------------------------------------------------------------------------------------------
B 014/2 20-03-96 BURTON INTERNATIONAL PLC
-------------------------------------------------------------------------------------------------------------------------------
B 014/3 Undated BURTON INTERNATIONAL PLC
-------------------------------------------------------------------------------------------------------------------------------
B 014/4 18-09-96 BURTON INTERNATIONAL PLC
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
B 015/1 Undated MR R AND MR I TUTTLE AND MR T KEANE Trading As BUSINESS POST CONVENTRY
-------------------------------------------------------------------------------------------------------------------------------
B 015/2 06-12-94 MR R AND MR I TUTTLE AND MR T KEANE Trading As BUSINESS POST CONVENTRY
-------------------------------------------------------------------------------------------------------------------------------
B 015/3 07-02-96 BUSINESS POST CONVENTRY
-------------------------------------------------------------------------------------------------------------------------------
B 015/4 26-02-97 BUSINESS POST CONVENTRY
-------------------------------------------------------------------------------------------------------------------------------
B 015/5 04-06-98 BUSINESS POST CONVENTRY
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
B 016/1 22-10-94 N J JEAL Trading As BUSINESS POST DARTFORD
-------------------------------------------------------------------------------------------------------------------------------
B 016/2 01-03-96 N J JEAL Trading As BUSINESS POST DARTFORD
-------------------------------------------------------------------------------------------------------------------------------
B 016/3 06-06-96 N J JEAL Trading As BUSINESS POST DARTFORD
-------------------------------------------------------------------------------------------------------------------------------
B 016/4 Undated N J JEAL Trading As BUSINESS POST DARTFORD
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
B 017/1 17-08-95 R SAUNDERS Trading As BUSINESS POST HEMEL HEMPSTEAD
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
B 017/2 22-01-98 R SAUNDERS Trading As BUSINESS POST HEMEL HEMPSTEAD
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
B 018/1 21-04-97 M PETERSON Trading As BUSINESS POST KINGSTON
-------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 84
<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------------------------------
Contract Number Date Party Contracting With Assignors
-------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
B 018/2 06-08-97 M PETERSON Trading As BUSINESS POST KINGSTON
-------------------------------------------------------------------------------------------------------------------------------
B 018/3 06-12-97 MR M D AND MRS L M PETERSON Trading As BUSINESS POST KINGSTON
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
B 019/1 Undated MRS J GILMAN Trading As BUSINESS POST MEDWAY
-------------------------------------------------------------------------------------------------------------------------------
B 019/2 27-04-97 GILMAN HANDLING LIMITED Trading As BUSINESS POST MEDWAY
-------------------------------------------------------------------------------------------------------------------------------
B 019/3 24-10-97 GILMAN HANDLING LIMITED Trading As BUSINESS POST MEDWAY
-------------------------------------------------------------------------------------------------------------------------------
B 019/4 07-09-98 GILMAN HANDLING LIMITED Trading As BUSINESS POST MEDWAY
-------------------------------------------------------------------------------------------------------------------------------
B 019/5 Undated GILMAN HANDLING LIMITED Trading As BUSINESS POST MEDWAY
-------------------------------------------------------------------------------------------------------------------------------
B 019/6 19-11-98 GILMAN HANDLING LIMITED Trading As BUSINESS POST MEDWAY
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
B 020/1 16-05-95 BUSINESS POST MILTON KEANES
-------------------------------------------------------------------------------------------------------------------------------
B 020/2 29-09-95 HSK MANAGEMENT LIMITED Trading As BUSINESS POST MILTON KEYNES
-------------------------------------------------------------------------------------------------------------------------------
B 020/3 31-07-96 HSK MANAGEMENT LIMITED Trading As BUSINESS POST MILTON KEYNES
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
B 021 17-12-98 A R TAYLOR Trading As BUSINESS POST NEWCASTLE
-------------------------------------------------------------------------------------------------------------------------------
B 021/1 05-11-94 R TAYLOR Trading As BUSINESS POST NEWCASTLE
-------------------------------------------------------------------------------------------------------------------------------
B 021/2 02-05-95 A R TAYLOR Trading As BUSINESS POST NEWCASTLE
-------------------------------------------------------------------------------------------------------------------------------
B 021/3 Undated A R TAYLOR Trading As BUSINESS POST NEWCASTLE
-------------------------------------------------------------------------------------------------------------------------------
B 021/4 Undated A R TAYLOR Trading As BUSINESS POST NEWCASTLE
-------------------------------------------------------------------------------------------------------------------------------
B 021/5 28-09-99 A R TAYLOR Trading As BUSINESS POST NEWCASTLE
-------------------------------------------------------------------------------------------------------------------------------
B 021/6 Undated A R TAYLOR Trading As BUSINESS POST NEWCASTLE
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
B 022/4 01-04-97 ZZYZX LIMITED Trading As BUSINESS POST SOUTHAMPTON
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
B 023/1 21-05-94 I D H ROBERTSON AND P S KUIPERS Trading As BUSINESS POST STEVENAGE
-------------------------------------------------------------------------------------------------------------------------------
B 023/2 03-06-95 I D H ROBERTSON AND P S KUIPERS Trading As BUSINESS POST STEVENAGE
-------------------------------------------------------------------------------------------------------------------------------
B 023/3 15-06-96 I D H ROBERTSON AND P S KUIPERS Trading As BUSINESS POST STEVENAGE
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
B 024 28-09-98 A R TAYLOR Trading As BUSINESS POST TEESIDE
-------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 85
<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------------------------------
Contract Number Date Party Contracting With Assignors
-------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
-------------------------------------------------------------------------------------------------------------------------------
B 025/1 25-11-97 ALAN HARRIS Trading As BUSINESS POST
-------------------------------------------------------------------------------------------------------------------------------
B 025/2 16-10-97 ALAN HARRIS Trading As BUSINESS POST
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
B 026/1 28-04-97 D AND M IVES Trading As BUSINESS POST YORK
-------------------------------------------------------------------------------------------------------------------------------
B 026/2 19-02-98 D AND M IVES Trading As BUSINESS POST YORK
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
C 001/1 05-09-96 C.D. JORDAN & SON (TRANSPORT) LIMITED
-------------------------------------------------------------------------------------------------------------------------------
C 001/2 08-10-96 C.D. JORDAN & SON LIMITED
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
C 004/1 Undated CHILTERN P AND A LIMITED
-------------------------------------------------------------------------------------------------------------------------------
C 004/2 17-12-98 CHILTERN P.A. LIMITED
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
C 005/1 28-03-97 CLACYS GARAGE
-------------------------------------------------------------------------------------------------------------------------------
C 005/2 03-02-98 CLACYS GARAGE
-------------------------------------------------------------------------------------------------------------------------------
C 005/3 Undated CLACYS GARAGE
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
C 006 14-05-96 N BANNISTER Trading As COMBI CARE
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
C 007 14-01-99 CONCORDE EXPRESS
-------------------------------------------------------------------------------------------------------------------------------
C 007/1 09-05-94 SIMON JOHN-TROKE-LOWE AND MRS KAREN MARGARET LOWE Trading As CONCORDE EXPRESS,
Trading As AMTRAK
-------------------------------------------------------------------------------------------------------------------------------
C 007/2 Undated SIMON JOHN-TROKE-LOWE AND MRS KAREN MARGARET LOWE Trading As CONCORDE EXPRESS,
Trading As AMTRAK
-------------------------------------------------------------------------------------------------------------------------------
C 007/3 23-09-97 CONCORDE EXPRESS Trading As AMTRAK FAREHAM
-------------------------------------------------------------------------------------------------------------------------------
C 007/4 Undated CONCORDE EXPRESS
-------------------------------------------------------------------------------------------------------------------------------
C 007/5 Undated CONCORDE EXPRESS Trading As AMTRAK FAREHAM
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
C 008/1 19-10-98 CORPORATE FREIGHT LOGISTICS LIMITED
-------------------------------------------------------------------------------------------------------------------------------
C 008/2 24-11-98 CORPORATE FREIGHT LOGISTICS LIMITED
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
D 001/1 23-01-97 D AND R HANKINS (MANEA) LIMITED
-------------------------------------------------------------------------------------------------------------------------------
D 001/2 06-03-97 D AND R HANKINS (MANEA) LIMITED
-------------------------------------------------------------------------------------------------------------------------------
D 001/3 Undated D AND R HANKINS (MANEA) LIMITED
-------------------------------------------------------------------------------------------------------------------------------
D 001/4 15-07-98 D AND R HANKINS (MANEA) LIMITED
-------------------------------------------------------------------------------------------------------------------------------
D 002 (3) (4)/1 18-11-97 DODDS TRANSPORT LIMITED
-------------------------------------------------------------------------------------------------------------------------------
D 002 (3) (4)/2 Undated DODDS TRANSPORT LIMITED
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 86
<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------------------------------
Contract Number Date Party Contracting With Assignors
-------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
D 006 24-09-98 TREVOR EDWARDS Trading As DRAIN DOCTOR PLUMBING
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
D 007 19-03-97 DUNCAN WARD
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
E 001/1 16-09-96 EVESONS FUELS LIMITED
-------------------------------------------------------------------------------------------------------------------------------
E 001/2 26-08-97 EVESONS FUELS LIMITED
-------------------------------------------------------------------------------------------------------------------------------
E 001/3 Undated EVESONS FUELS LIMITED
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
E 004 15-11-96 EXCEL TRANSPORT SERVICES Trading As WPS
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
E 005/1 14-01-97 PALFREY SERVICE STATION LIMITED Trading As EXCLUSIVE DISTRIBUTION SERVICES
-------------------------------------------------------------------------------------------------------------------------------
E 005/2 Undated PALFREY SERVICE STATION LIMITED Trading As EXCLUSIVE DISTRIBUTION SERVICES
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
F 002/1 09-01-98 F.W. EATON ROAD HAULAGE LIMITED
-------------------------------------------------------------------------------------------------------------------------------
F 002/2 25-08-98 F.W. EATON ROAD HAULAGE LIMITED
-------------------------------------------------------------------------------------------------------------------------------
F 002/3 19-02-99 F.W. EATON ROAD HAULAGE LIMITED
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
F 003 Undated A CHAPMAN AND A RICHARDSON Trading As NATIONAL PARCELS
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
F 005 15-05-97 P NEEDHAM AND RICHARD SMITHSOM Trading As FREEFLOW
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
F 006 17-03-98 FRESH DIRECT (UK) LIMITED
-------------------------------------------------------------------------------------------------------------------------------
F 006/2 15-01-99 FRESH DIRECT (UK) LIMITED
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
F 007/1 03-10-97 FYFFES MULTIFRESH
-------------------------------------------------------------------------------------------------------------------------------
F 007/2 23-07-98 FYFFES MULTIFRESH
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
G 001 04-06-97 G & G TRANSPORT LIMITED
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
G 002 23-07-94 GECO PLANT SERVICES LIMITED
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
G 003 20-03-97 JEFF WATTS
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
G 004/1 12-11-96 GMA WAREHOUSING AND TRANSPORT LIMITED
-------------------------------------------------------------------------------------------------------------------------------
G 004/2 22-01-98 GMA WAREHOUSING AND TRANSPORT LIMITED
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 87
<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------------------------------
Contract Number Date Party Contracting With Assignors
-------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
G 005/1 29-07-96 GRAHAM CHURCHILL PLANT LIMITED
-------------------------------------------------------------------------------------------------------------------------------
G 005/2 17-03-97 GRAHAM CHURCHILL PLANT LIMITED
-------------------------------------------------------------------------------------------------------------------------------
G 005/3 24-01-97 GRAHAM CHURCHILL PLANT LIMITED
-------------------------------------------------------------------------------------------------------------------------------
G 005/4 Undated GRAHAM CHURCHILL PLANT LIMITED
-------------------------------------------------------------------------------------------------------------------------------
G 005/5 Undated GRAHAM CHURCHILL PLANT LIMITED
-------------------------------------------------------------------------------------------------------------------------------
G 005/6 30-07-98 GRAHAM CHURCHILL PLANT LIMITED
-------------------------------------------------------------------------------------------------------------------------------
G 005/7 04-01-99 GRAHAM CHURCHILL PLANT LIMITED
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
H 001 26-01-98 HITCHIN HAULAGE COMPANY LIMITED
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
H 002 10-11-98 H S AND D BURGESS
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
I 001/1 25-09-96 CITY LINK - ASHFORD
-------------------------------------------------------------------------------------------------------------------------------
I 001/2 15-02-99 INITIAL CITY LINK - ASHFORD
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
I 002/1 23-05-97 M WAY LINK Trading As CITY LINK BOURNEMOUTH
-------------------------------------------------------------------------------------------------------------------------------
I 002/2 Undated M WAY LINK LIMITED Trading As CITY LINK BOURNEMOUTH
-------------------------------------------------------------------------------------------------------------------------------
I 002/3 Undated M WAY LINK LIMITED Trading As CITY LINK BOURNEMOUTH
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
I 002/9 23-02-99 M WAY LINK LIMITED Trading As INITIAL CITY LINK
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
I 003/1 Undated JAVELIN EXPRESS LIMITED Trading As CITY LINK BRADFORD
-------------------------------------------------------------------------------------------------------------------------------
I 003/2 Undated JAVELIN EXPRESS LIMITED Trading As CITY LINK BRADFORD
-------------------------------------------------------------------------------------------------------------------------------
I 003/3 27-06-97 JAVELIN EXPRESS LIMITED Trading As CITY LINK BRADFORD
-------------------------------------------------------------------------------------------------------------------------------
I 003/4 23-04-98 JAVELIN EXPRESS LIMITED Trading As INITIAL CITY LINK BRADFORD
-------------------------------------------------------------------------------------------------------------------------------
I 003/5 11-09-98 JAVELIN EXPRESS Trading As INITIAL CITY LINK BRADFORD
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
I 004/1 11-09-98 N.W. LINK LIMITED Trading as INITIAL CITY LINK GLOUCESTER
-------------------------------------------------------------------------------------------------------------------------------
I 004/2 03-11-98 N.W. LINK LIMITED Trading as INITIAL CITY LINK GLOUCESTER
-------------------------------------------------------------------------------------------------------------------------------
I 005 04-12-98 A&K DISTRIBUTION Trading as INITIAL CITY LINK GUILDFORD
-------------------------------------------------------------------------------------------------------------------------------
I 005/1 Undated A&K DISTRIBUTION Trading as CITY LINK GUILDFORD
-------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 88
<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------------------------------
Contract Number Date Party Contracting With Assignors
-------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
I 005/2 21-01-98 A&K DISTRIBUTION Trading as CITY LINK GUILDFORD
-------------------------------------------------------------------------------------------------------------------------------
I 005/3 11-08-98 A&K DISTRIBUTION Trading as INITIAL CITY LINK GUILDFORD
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
I 006(13)/1 08-09-95 ASSOCIATED TRANSPORT SERVICES LIMITED Trading As CITY LINK - LEEDS
-------------------------------------------------------------------------------------------------------------------------------
I 006(13)/2 07-02-96 ASSOCIATED TRANSPORT SERVICES LIMITED Trading As CITY LINK - LEEDS
-------------------------------------------------------------------------------------------------------------------------------
I 006(13)/3 26-03-96 ASSOCIATED TRANSPORT SERVICES LIMITED Trading As CITY LINK - LEEDS
-------------------------------------------------------------------------------------------------------------------------------
I 006(13)/4 10-01-97 ASSOCIATED TRANSPORT SERVICES LIMITED Trading As CITY LINK - LEEDS
-------------------------------------------------------------------------------------------------------------------------------
I 006(13)/5 Undated ASSOCIATED TRANSPORT SERVICES LIMITED Trading As CITY LINK - LEEDS
-------------------------------------------------------------------------------------------------------------------------------
I 006(13)/6 Undated ASSOCIATED TRANSPORT SERVICES LIMITED
-------------------------------------------------------------------------------------------------------------------------------
I 006(13)/7 Undated ASSOCIATED TRANSPORT SERVICES LIMITED
-------------------------------------------------------------------------------------------------------------------------------
I 006(13)/8 Undated ASSOCIATED TRANSPORT SERVICES LIMITED
-------------------------------------------------------------------------------------------------------------------------------
I 006(13)/9 Undated ASSOCIATED TRANSPORT LIMITED
-------------------------------------------------------------------------------------------------------------------------------
I 006(13)/10 09-04-98 ASSOCIATED TRANSPORT LIMITED
-------------------------------------------------------------------------------------------------------------------------------
I 006(13)/11 Undated ASSOCIATED TRANSPORT LIMITED
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
I 007 10-02-99 SWORDPACE LIMITED Trading As INITIAL CITY LINK MANCHESTER
-------------------------------------------------------------------------------------------------------------------------------
I 007/1 17-04-96 SWORDPACE LIMITED Trading As CITY LINK MANCHESTER
-------------------------------------------------------------------------------------------------------------------------------
I 007/2 30-07-97 SWORDPACE LIMITED Trading As CITY LINK MANCHESTER
-------------------------------------------------------------------------------------------------------------------------------
I 007/3 09-12-97 SWORDPACE Trading As CITY LINK MANCHESTER
-------------------------------------------------------------------------------------------------------------------------------
I 007/4 20-01-98 SWORDPACE Trading As CITY LINK MANCHESTER
-------------------------------------------------------------------------------------------------------------------------------
I 007/5 22-10-98 SWORDPACE Trading As INITIAL CITY LINK MANCHESTER
-------------------------------------------------------------------------------------------------------------------------------
I 007/6 20-01-99 SWORDPACE Trading As INITIAL CITY LINK MANCHESTER
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
I 008/1 Undated N.W. LINK LIMITED Trading As CITY LINK DARLINGTON
-------------------------------------------------------------------------------------------------------------------------------
I 008/2 13-10-97 N.W. LINK LIMITED Trading As CITY LINK DARLINGTON
-------------------------------------------------------------------------------------------------------------------------------
I 008/3 31-11-97 N.W. LINK LIMITED Trading As CITY LINK MIDDLESBOROUGH
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
I 010/1 27-05-97 A AND K DISTRIBUTION Trading As CITY LINK PORTSMOUTH
-------------------------------------------------------------------------------------------------------------------------------
I 010/2 21-01-98 A AND K DISTRIBUTION LIMITED Trading As CITY LINK PORTSMOUTH
-------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 89
<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------------------------------
Contract Number Date Party Contracting With Assignors
-------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
I 010/3 30-04-98 A AND K DISTRIBUTION LIMITED Trading As INITIAL CITY LINK PORTSMOUTH
-------------------------------------------------------------------------------------------------------------------------------
I 010/4 11-08-98 A AND K DISTRIBUTION LIMITED Trading As INITIAL CITY LINK PORTSMOUTH
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
I 011/1 21-04-98 N.W. LINK LIMITED Trading As CITY LINK PRESTON
-------------------------------------------------------------------------------------------------------------------------------
I 011/2 23-06-98 N.W. LINK LIMITED Trading As INITIAL CITY LINK PRESTON
-------------------------------------------------------------------------------------------------------------------------------
I 011/3 03-11-98 N.W. LINK LIMITED Trading As INITIAL CITY LINK PRESTON
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
I 012/1 17-05-97 CITY LINK SOUTHAMPTON
-------------------------------------------------------------------------------------------------------------------------------
I 012/2 30-07-98 INITIAL CITY LINK SOUTHAMPTON
-------------------------------------------------------------------------------------------------------------------------------
I 012/3 23-02-99 INITIAL CITY LINK SOUTHAMPTON
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
I 014 24-04-97 INTEGRATED (FIRE & SAFETY) SERVICES LIMITED
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
I 015/1 10-11-94 P AND S DIGBY Trading As INTERLINK AYLESBURY
-------------------------------------------------------------------------------------------------------------------------------
I 015/2 04-06-95 P AND S DIGBY Trading As INTERLINK AYLESBURY
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
I 016/1 25-08-94 INTERLINK EXPRESS BASILDON
-------------------------------------------------------------------------------------------------------------------------------
I 016/2 24-07-97 INTERLINK EXPRESS BASILDON
-------------------------------------------------------------------------------------------------------------------------------
I 017/1 11-03-97 W E P EXPRESS Trading As INTERLINK BEDFORD
-------------------------------------------------------------------------------------------------------------------------------
I 017/2 Undated W E P EXPRESS Trading As INTERLINK BEDFORD
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
I 018/1 22-04-95 TARGA LIMITED Trading As INTERLINK EXPRESS BRIGHTON
-------------------------------------------------------------------------------------------------------------------------------
I 018/2 10-02-99 TARGA LIMITED Trading As INTERLINK EXPRESS BRIGHTON
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
I 019 20-11-96 A S AND M D THOMPSON Trading As INTERLINK DONCASTER
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
I 020 26-09-95 T PRICE Trading As INTERLINK EXPRESS
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
I 021 25-08-94 N WISE Trading as INTERLINK TITCHFIELD
-------------------------------------------------------------------------------------------------------------------------------
I 022/1 12-05-94 ALAN THOMAS Trading As INTERLINK EXPRESS GUILDFORD
-------------------------------------------------------------------------------------------------------------------------------
I 022/2 Undated A THOMAS Trading As INTERLINK GUILDFORD
-------------------------------------------------------------------------------------------------------------------------------
I 022/3 09-02-99 A THOMAS Trading As INTERLINK GUILDFORD
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 90
<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------------------------------
Contract Number Date Party Contracting With Assignors
-------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
I 023/1 22-02-94 INTERLINK EXPRESS HARLOW
-------------------------------------------------------------------------------------------------------------------------------
I-023/2 13-09-95 INTERLINK EXPRESS HARLOW
-------------------------------------------------------------------------------------------------------------------------------
I 023/3 12-05-97 INTERLINK EXPRESS HARLOW
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
I 024 14-10-98 AJ BURGE Trading As INTERLINK
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
I 025 27-01-99 H.N. WILD (PARCELS) LIMITED Trading As INTERLINK LEEDS
-------------------------------------------------------------------------------------------------------------------------------
I 025/1 13-11-96 H.N. WILD (PARCELS) LIMITED Trading As INTERLINK LEEDS
-------------------------------------------------------------------------------------------------------------------------------
I 025/2 13-02-97 H.N. WILD (PARCELS) LIMITED Trading As INTERLINK LEEDS
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
I 026/1 30-04-98 INTERLINK EXPRESS (LETCHWORTH)
-------------------------------------------------------------------------------------------------------------------------------
I 026/2 22-01-99 INTERLINK EXPRESS (LETCHWORTH)
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
I 027/1 21-05-94 R WINN AND MRS J C PEPWORTH Trading As INTERLINK EXPRESS PARCEL LIVERPOOL
-------------------------------------------------------------------------------------------------------------------------------
I 027/2 31-12-96 R E WINN AND J C PEPWORTH Trading As INTERLINK EXPRESS PARCELS
-------------------------------------------------------------------------------------------------------------------------------
I 027/3 18-07-97 R E WINN AND J C PEPWORTH Trading As INTERLINK LIVERPOOL
-------------------------------------------------------------------------------------------------------------------------------
I 027/4 04-12-97 R E WINN AND J C PEPWORTH Trading As INTERLINK LIVERPOOL
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
I 028 17-11-98 INTERLINK EXPRESS (MAIDSTONE)
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
I 029/1 29-11-94 2D HOLDINGS Trading As INTERLINK MANCHESTER
-------------------------------------------------------------------------------------------------------------------------------
I 029/2 06-02-96 2D HOLDINGS Trading As INTERLINK MANCHESTER
-------------------------------------------------------------------------------------------------------------------------------
I 029/3 28-05-97 2D HOLDINGS
-------------------------------------------------------------------------------------------------------------------------------
I 029/4 Undated 2D HOLDINGS
-------------------------------------------------------------------------------------------------------------------------------
I 029/5 22-10-98 2D HOLDINGS
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
I 030/1 26-11-98 DC DAVENPORT Trading As INTERLINK EXPRESS NORWICH
-------------------------------------------------------------------------------------------------------------------------------
I 030/2 10-04-96 D DAVENPORT Trading As INTERLINK NORWICH
-------------------------------------------------------------------------------------------------------------------------------
I 030/3 Undated D DAVENPORT Trading As INTERLINK NORWICH
-------------------------------------------------------------------------------------------------------------------------------
I 030/4 25-06-98 D DAVENPORT Trading As INTERLINK NORWICH
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
I 031 24-09-97 NORRIS Trading As INTERLINK WITNEY
-------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 91
<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------------------------------
Contract Number Date Party Contracting With Assignors
-------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
-------------------------------------------------------------------------------------------------------------------------------
I 033/1 18-05-96 ELMSWAY DISTRIBUTION Trading As INTERLINK READING
-------------------------------------------------------------------------------------------------------------------------------
I 033/2 29-01-98 ELMSWAY LIMITED Trading As INTERLINK READING
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
I 034 02-02-99 INTERLINK EXPRESS SOUTHAMPTON
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
I 034/1 09-02-95 A TAYLOR Trading As INTERLINK EXPRESS SOUTHAMPTON
-------------------------------------------------------------------------------------------------------------------------------
I 034/2 21-02-97 A TAYLOR Trading As INTERLINK EXPRESS SOUTHAMPTON
-------------------------------------------------------------------------------------------------------------------------------
I 034/3 29-05-97 INTERLINK EXPRESS SOUTHAMPTON
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
I 035 08-04-97 J CUNNINGHAM Trading As INTERLINK ST. ALBANS
-------------------------------------------------------------------------------------------------------------------------------
I 036/1 30-06-95 P AND S J ELLIS Trading As INTERLINK EXPRESS
-------------------------------------------------------------------------------------------------------------------------------
I 036/2 17-06-97 P AND S J ELLIS Trading As INTERLINK EXPRESS
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
I 037/1 12-06-95 S CANAKIAH Trading As INTERLINK WATFORD AND BARNET
-------------------------------------------------------------------------------------------------------------------------------
I 037/2 22-07-97 A J M PARCELS Trading As INTERLINK WATFORD
-------------------------------------------------------------------------------------------------------------------------------
I 037/3 30-10-98 A J M PARCELS Trading As INTERLINK EXPRESS WATFORD
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
I 038 12-09-95 INTERLINK EXPRESS PARCELS
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
I 039/1 03-03-99 INTERLINK CHELTENHAM
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
J 001 01-11-98 J SKINNER
-------------------------------------------------------------------------------------------------------------------------------
J 002 01-10-98 JT WHITE
-------------------------------------------------------------------------------------------------------------------------------
J 003/1 09-12-97 THE JCM PARTNERSHIP
-------------------------------------------------------------------------------------------------------------------------------
J 003/2 07-08-98 THE JCM PARTNERSHIP
-------------------------------------------------------------------------------------------------------------------------------
K 001/1 21-03-96 K.D. OFFSHORE (SOUTHAMPTON) LIMITED
-------------------------------------------------------------------------------------------------------------------------------
K 001/2 01-11-96 K.D. OFFSHORE (SOUTHAMPTON) LIMITED
-------------------------------------------------------------------------------------------------------------------------------
K 001/3 13-11-97 K.D. OFFSHORE (SOUTHAMPTON) LIMITED
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
K 002 29-06-98 KM CLARKE & SONS
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
L 003 Undated LITTONFAST LIMITED
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
L 004/1 23-07-97 LONDON KEY HOLDING COMPANY LIMITED
-------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 92
<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------------------------------
Contract Number Date Party Contracting With Assignors
-------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
L 004/2 Undated LONDON KEY HOLDING COMPANY LIMITED
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
L 005 12-02-96 LONDONLINK
-------------------------------------------------------------------------------------------------------------------------------
M 001 20-01-99 M & A OFFICE SUPPLIES LIMITED
-------------------------------------------------------------------------------------------------------------------------------
M 001/1 08-11-95 M & A OFFICE SUPPLIES LIMITED
-------------------------------------------------------------------------------------------------------------------------------
M 001/2 12-02-96 M & A OFFICE SUPPLIES LIMITED
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
M 002 15-09-97 MAGNUS GROUP LIMITED
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
M 003/1 22-11-93 MARKEN LIMITED
-------------------------------------------------------------------------------------------------------------------------------
M 003/2 10-10-95 MARKEN LIMITED
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
M 004 Undated WYSEPLANT LIMITED
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
M 005/1 03-07-95 N C MANSON Trading As MENDEM MOTORS
-------------------------------------------------------------------------------------------------------------------------------
M 005/2 01-10-95 N C MANSON Trading As MENDEM MOTORS
-------------------------------------------------------------------------------------------------------------------------------
M 005/3 15-10-96 N C MANSON Trading As MENDEM MOTORS
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
M 006/1 12-09-95 MICHAEL BOWYER AND CO. LIMITED
-------------------------------------------------------------------------------------------------------------------------------
M 006/2 25-02-97 MICHAEL BOWYER AND CO. LIMITED
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
M 008/1 25-09-96 MRS J HILLS Trading As MR HAM MAN
-------------------------------------------------------------------------------------------------------------------------------
M 008/2 27-08-98 MRS J HILLS Trading As MR HAM MAN
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
M 009 14-10-98 MULTI INDUSTRIAL DOORS LIMITED
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
M 010/1 28-01-99 MARTIN CANAVAN
-------------------------------------------------------------------------------------------------------------------------------
M 010/2 20-02-99 MARTIN CANAVAN
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
N 001 03-07-96 B. HANCOCK Trading As NCN HULL
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
N 002 12-02-98 NEIL DAVENPORT
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
N 003 04-11-98 CARGOFAST LIMITED Trading As AMTRAK HIGH WYCOMBE
-------------------------------------------------------------------------------------------------------------------------------
O 001 19-12-96 ARBACK LIMITED
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
P 001 23-07-97 VICTORIA TRANSPORT Trading As PANIC LINK ANDOVER
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
P 004 24-04-98 I EASTWOOD Trading As PANIC LINK READING
-------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 93
<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------------------------------
Contract Number Date Party Contracting With Assignors
-------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
P 005/1 21-11-96 PEGASUS FREIGHT LINES LIMITED
-------------------------------------------------------------------------------------------------------------------------------
P 005/2 12-02-97 PEGASUS FREIGHT LINES
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
P 006/1 25-07-96 PETE SPACAGNA MOTOR REPAIRS
-------------------------------------------------------------------------------------------------------------------------------
P 006/2 Undated PETE SPACAGNA MOTOR REPAIRS
-------------------------------------------------------------------------------------------------------------------------------
P 006/3 Undated PETE SPACAGNA MOTOR REPAIRS
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
P 007 10-10-96 PETER HARDING
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
P 008 Undated PETER JAMES TRANSPORT LIMITED
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
P 009(20)/1 13-02-97 G TYACKE Trading As PIRTEK COVENTRY
-------------------------------------------------------------------------------------------------------------------------------
P 009(20)/2 23-02-97 G TYACKE Trading As PIRTEK COVENTRY
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
P 012 07-10-96 PIRTEK-KIDDERMINSTER
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
P 013 04-09-97 D MICHELL Trading As PIRTEK NORTHAMPTON
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
P 014 22-10-98 RULEROAM LIMITED Trading As PIRTEK NOTTINGHAM
-------------------------------------------------------------------------------------------------------------------------------
P 014(10)/1 19-07-96 RULEROAM LIMITED Trading As PIRTEK NOTTINGHAM
-------------------------------------------------------------------------------------------------------------------------------
P 014(10)/2 Undated RULEROAM LIMITED Trading As PIRTEK NOTTINGHAM
-------------------------------------------------------------------------------------------------------------------------------
P 014(10)/3 Undated RULEROAM LIMITED Trading As PIRTEK NOTTINGHAM
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
P 015 25-11-95 PIRTEK OLDBURY BIRMINGHAM
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
P 016 06-01-99 SEABIRD II Trading As PIRTEK PARK ROYAL
-------------------------------------------------------------------------------------------------------------------------------
P 016/1 13-02-95 SEABIRD II Trading As PIRTEK NORTH WEST LONDON
-------------------------------------------------------------------------------------------------------------------------------
P 016/2 11-04-96 SEABIRD II Trading As PIRTEK NORTH WEST LONDON
-------------------------------------------------------------------------------------------------------------------------------
P 016/3 Undated SEABIRD II Trading As PIRTEK PARK ROYAL
-------------------------------------------------------------------------------------------------------------------------------
P 016/4 22-10-98 SEABIRD II Trading As PIRTEK PARK ROYAL
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
P 017 23-12-97 KAFTON LIMITED Trading As PIRTEK PLYMOUTH
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
P 018/1 04-04-96 TOWAR LIMITED Trading As PIRTEK PORTSMOUTH
-------------------------------------------------------------------------------------------------------------------------------
P 018/2 09-12-96 TOWAR LIMITED Trading As PIRTEK PORTSMOUTH
-------------------------------------------------------------------------------------------------------------------------------
P 018/3 13-02-97 TOWAR LIMITED Trading As PIRTEK PORTSMOUTH
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
P 019/1 13-11-97 STREAMHOUSE LIMITED Trading As PIRTEK READING
-------------------------------------------------------------------------------------------------------------------------------
P 019/2 26-11-98 PIRTEK READING
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 94
<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------------------------------
Contract Number Date Party Contracting With Assignors
-------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
P 021 11-02-98 DESAI AND DESAI LIMITED Trading As PIRTEK SLOUGH AND GUILDFORD
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
P 022 04-04-96 TOWAR LIMITED Trading As PIRTEK SOUTHAMPTON
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
P 023 09-07-98 POULTRY UNIT CONTRACTORS LIMITED
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
P 024 19-12-96 PRIME GUARDS SECURITY SERVICES LIMITED
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
P 025 19-01-99 PIRTEK (EXETER)
-------------------------------------------------------------------------------------------------------------------------------
R 001/1 20-05-97 REGENT FREIGHT SERVICES LIMITED
-------------------------------------------------------------------------------------------------------------------------------
R 001/2 13-02-98 REGENT FREIGHT SERVICES LIMITED
-------------------------------------------------------------------------------------------------------------------------------
R 002 07-01-99 ROADPACE LIMITED Trading As B.D. SKIP HIRE
-------------------------------------------------------------------------------------------------------------------------------
R 003/1 21-09-96 ROBERTS DISTRIBUTION LIMITED
-------------------------------------------------------------------------------------------------------------------------------
R 003/2 14-03-97 ROBERTS DISTRIBUTION
-------------------------------------------------------------------------------------------------------------------------------
R 003/3 25-09-97 ROBERTS DISTRIBUTION
-------------------------------------------------------------------------------------------------------------------------------
R 003/4 12-03-98 ROBERTS DISTRIBUTION LIMITED
-------------------------------------------------------------------------------------------------------------------------------
R 003/5 21-04-98 ROBERTS DISTRIBUTION LIMITED
-------------------------------------------------------------------------------------------------------------------------------
R 003/6 08-09-98 ROBERTS DISTRIBUTION LIMITED
-------------------------------------------------------------------------------------------------------------------------------
R 004/1 30-05-96 R GARRETT Trading As ROSS GARRETT TRANSPORT
-------------------------------------------------------------------------------------------------------------------------------
R 004/2 01-11-97 ROSS GARRETT TRANSPORT
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
R 005 Undated ROYALE INTERNATIONAL COURIERS LIMITED
-------------------------------------------------------------------------------------------------------------------------------
R 006 10-11-98 RUSSELL BURGESS LIMITED
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
S 001/1 30-10-95 SJ FOOT AUTO ELECTRICS
-------------------------------------------------------------------------------------------------------------------------------
S 001/2 Undated SJ FOOT AUTO ELECTRICS LIMITED
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
S 002 23-01-97 P AND F SAFEPAC COMPANY LIMITED
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
S 003/1 14-06-96 SAGLIO COMBUSTION SERVICES
-------------------------------------------------------------------------------------------------------------------------------
S 003/2 Undated SAGLIO COMBUSTION SERVICES
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
S 004/1 26-09-97 SEAS (MEDWAY) LIMITED
-------------------------------------------------------------------------------------------------------------------------------
S 004/2 16-06-98 SEAS (MEDWAY) LIMITED
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
S 005/1 16-06-98 SHEARS BROS. (TRANSPORT) LIMITED
-------------------------------------------------------------------------------------------------------------------------------
S 005/2 10-02-99 SHEARS BROS. (TRANSPORT) LIMITED
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
S 006 & S 007 Undated SILVER SHEILD WINDSCREENS
-------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 95
<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------------------------------
Contract Number Date Party Contracting With Assignors
-------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
-------------------------------------------------------------------------------------------------------------------------------
S 008/1 08-01-98 SKILLBEECH LIMITED
-------------------------------------------------------------------------------------------------------------------------------
S 008/2 16-11-98 SKILLBEECH LIMITED
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
S 009 Undated SMITHS SECURITY SERVICES LIMITED
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
S 010 17-07-97 SOLENT FORK LIFT TRUCKS LIMITED
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
S 011 27-11-96 SOLENT S.D. LIMITED
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
S 012 11-01-99 SOLENT TRUCK PARTS
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
S 013 23-03-94 SOUTH HANTS AUTO SPARES
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
S 014 05-03-98 SOUTHAMPTON WASTE DISPOSAL CONTRACTORS
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
S 015/1 21-03-96 SOUTHERN EXPRESS FREIGHT LIMITED
-------------------------------------------------------------------------------------------------------------------------------
S 015/2 09-04-96 SOUTHERN EXPRESS FREIGHT LIMITED
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
S 016 14-08-95 STANAIR INDUSTRIAL DOOR SERVICES LIMITED
-------------------------------------------------------------------------------------------------------------------------------
S 018/1 01-08-97 SWITCH INTERNATIONAL TRAILERS (UK) LIMITED
-------------------------------------------------------------------------------------------------------------------------------
S 018/2 18-02-99 SWITCH INTERNATIONAL TRAILERS (UK) LIMITED
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
T 001 (2) 10-10-97 TAYLORED LINES LIMITED
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
T 004 29-09-98 TOTTEN WINDSCREENS
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
T 006 29-07-96 TRANSACT COURIER SERVICE LIMITED
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
T 008 22-09-95 KINGS ROAD TYRES AND REPAIRS LIMITED Trading As TYREWORK
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
U 001 21-07-96 UK PLANT LIMITED
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
U 002 10-06-96 UK PLANT CHARLTON
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
U 003 10-06-96 UK PLANT LIMITED
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
U 004 10-06-96 UK PLANT LIMITED
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 96
<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------------------------------
Contract Number Date Party Contracting With Assignors
-------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
U 005 17-07-96 UK PLANT LIMITED
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
W 001 26-06-98 W. EMMETT & SON LIMITED
-------------------------------------------------------------------------------------------------------------------------------
W 002/1 29-09-98 WARD (SKIPS) LIMITED
-------------------------------------------------------------------------------------------------------------------------------
W 002/2 27-01-99 WARD (SKIPS) LIMITED
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
W 003/1 11-11-95 WHEELERS TRANSPORT Trading As FASTRACK
-------------------------------------------------------------------------------------------------------------------------------
W 003/2 11-05-96 WHEELERS TRANSPORT Trading As FASTRACK PARCELS
-------------------------------------------------------------------------------------------------------------------------------
W 003/3 Undated WHEELERS TRANSPORT Trading As FASTRACK BICESTER
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
W 004 25-07-97 WPS (EAST KENT)
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
W 005/1 04-10-96 PETER JAMES TRANSPORT LIMITED
-------------------------------------------------------------------------------------------------------------------------------
W 005/2 06-02-97 PETER JAMES TRANSPORT
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
W 006 07-10-96 KEN WAGSTAFF Trading As WPS NOTTS
-------------------------------------------------------------------------------------------------------------------------------
Wyse Plant Limited Undated
-------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 97
SIGNED by the said MARK
LAWRENCE TEMPLE as his Deed /s/ Mark Lawrence Temple
in the presence of:
SIGNED by the said ANDREW /s/ Andrew Robert Temple
ROBERT TEMPLE as his Deed in
the presence of:
SIGNED for and on behalf of
HUGO INTERNATIONAL LIMITED as its
Deed
Director /s/ D. W. Foden
Company Secretary /s/G. Foden
<PAGE> 98
THIS AGREEMENT made 19TH MARCH 1999
BETWEEN:
(1) DOLPHIN TELECOMMUNICATIONS LIMITED whose registered office is situate at
c/o Edge & Ellison 18 Southampton Place London WC1A 2AJ ("Dolphin")
(2) NATIONAL BAND THREE LIMITED whose registered office is situate at c/o Edge
& Ellison 18 Southampton Place London aforesaid ("NB3")
(3) FLEETCOMM LIMITED (trading as FLEETCOMM MOBILE RADIO NETWORKS) whose
registered office is situate at c/o Edge & Ellison 18 Southampton Place
London aforesaid ("Fleetcomm")
(4) MARK LAWRENCE TEMPLE of 10a Coultas Road Hiltingbury Chandlers Ford
Hampshire SO53 5BD and ANDREW ROBERT TEMPLE of 77 Park Road Chandlers Ford
Hampshire SO53 2EL who together trade as PRO-COMM RADIO COMMUNICATIONS
("Pro-comm").
(5) HUGO INTERNATIONAL LIMITED whose registered office is situate at 122A
Nelson Road Whitton Twickenham Middlesex TW2 7AY ("Hugo")
RECITALS
(1) By an agreement made on 18th September 1998 between (1) Dolphin (2) NB3 (3)
Fleetcomm and (4) Pro-comm ("the Agreement") at the direction of Dolphin
NB3 and Fleetcomm granted certain non-exclusive rights to provide services
as defined in the Agreement subject to the terms and conditions of the
Agreement.
(2) By an agreement made on 8th March 1999 between (1) Pro-comm and (2) Hugo
Pro-comm agreed to sell the business presently carried on by it to Hugo
including (inter-alia) contracts between Pro-comm and its customers for the
provision of the services defined in the Agreement.
<PAGE> 99
(3) Pro-comm now wishes to assign the benefit and the burden of the Agreement
to Hugo and Dolphin NB3 and Fleetcomm have agreed to consent to such
assignment on the terms hereinafter set out.
WHEREBY IT IS AGREED as follows:
1. ASSIGNMENT
IN consideration of the sum of Pound Sterling1.00 now paid by Hugo to
Pro-comm (the receipt whereof is hereby acknowledged) Pro-comm HEREBY
ASSIGNS with full title guarantee to Hugo all the Agreement and the full
benefit of the same and all Pro-comm's right title and interest therein and
(subject to the terms of this Agreement) all money payable or to become
payable under it and all other rights and benefits whatever accruing
thereunder to Pro-comm TO HOLD to Hugo absolutely but (save as provided for
in this Agreement) subject to the due discharge and performance and
observance by Hugo of all the obligations and liabilities of Pro-comm
created by or arising by reason of some non-performance of the Agreement on
or after the date of this Agreement.
2. HUGO'S UNDERTAKING AND INDEMNITY
2.1 SUBJECT to the provisions of this Agreement Hugo undertakes with Pro-comm
Dolphin NB3 and Fleetcomm that as from the date of this Agreement Hugo will
observe and perform the provisions of the Agreement on the part of Pro-comm
to be observed and performed.
2.2 HUGO further undertakes with Pro-comm to indemnify Pro-comm and keep them
fully indemnified against all liabilities losses actions proceedings costs
claims demands and expenses brought or made against Pro-comm arising from
the future non-observance or non-performance by Hugo of those provisions of
the Agreement on the part of Pro-comm to be observed and performed subject
nevertheless to the terms of this Agreement.
<PAGE> 100
3. CONSENT TO ASSIGNMENT
IN consideration of the undertakings on the part of Pro-comm and Hugo
hereinafter contained Dolphin NB3 and Fleetcomm HEREBY CONSENT to the
Assignment of the Agreement set out in clause 1 without however affecting
Pro-comm's obligations and liabilities under the Agreement in respect of
all matters up to the date of this Agreement.
4. ARRANGEMENTS FOR HUGO
4.1 HUGO subject to the terms of clause 4.3 undertakes with Dolphin NB3 and
Fleetcomm to pay to the relevant party of Dolphin NB3 and Fleetcomm all
charges due to them pursuant to the Agreement from and after the date of
this Agreement and without prejudice to the generality of the foregoing
Hugo shall pay the following invoices to NB3 and Fleetcomm:
<TABLE>
<CAPTION>
Company Invoice Number Invoice Date Invoice Total
------- -------------- ------------ -------------
<S> <C> <C> <C>
NB3 6166 15th February 1999 Pound Sterling 8,844.82
Fleetcomm 8165 28th February 1999 Pound Sterling 1,227.78
Fleetcomm 8237 28th February 1999 Pound Sterling 154.22
Fleetcomm 8231 28th February 1999 Pound Sterling 624.97
Fleetcomm 8277 28th February 1999 Pound Sterling 305.97
Fleetcomm 8273 28th February 1999 Pound Sterling 847.18
Fleetcomm 8210 28th February 1999 Pound Sterling 28,890.69
</TABLE>
4.2 DOLPHIN NB3 Fleetcomm and Hugo agree that:
4.2.1 those charges due pursuant to clause 4.1 to NB3 shall be paid to
NB3 by direct debit from Hugo's bank account on or about the 19th
day of each calendar month following the date of this Agreement;
4.2.2 the invoice due pursuant to clause 4.1 to NB3 shall be paid to
NB3 by direct debit from Hugo's bank account on the 19th March
1999;
<PAGE> 101
4.2.3 those charges due pursuant to clause 4.1 to Fleetcomm shall be
paid by cheque to be received by Fleetcomm on the 29th day of
each calendar month following the date of this Agreement
commencing on 29th March 1999.
4.2.4 the invoices due pursuant to clause 4.1 to Fleetcomm shall be
paid by cheque to be received by Fleetcomm on the 29th March
1999.
4.3 NOTWITHSTANDING the provisions in clause 4.1 HUGO undertakes with Dolphin
NB3 and Fleetcomm to pay to the relevant party of Dolphin NB3 and Fleetcomm
any sum due to them for early disconnection or coverage downgrade pursuant
to any bonus or upgrade scheme applicable to the services (as defined in
the Agreement) provided pursuant to the Agreement whether such services
were provided prior to the date of this Agreement or whether such services
are provided on or after the date of this Agreement.
5. THIS Agreement shall not take effect until Hugo shall have completed its
purchase of the business presently carried on by Pro-comm and Hugo has
given written notice of such completion to Dolphin which shall be deemed to
have been received by Dolphin on the second working day after the same has
been despatched by first class ordinary post to Dolphin at the address
given above for Dolphin.
6. IN any event this Agreement shall be deemed to be null and void and of no
effect unless Hugo shall have served notice pursuant to clause 5 by 31st
March 1999.
<PAGE> 102
AS WITNESS signed by the authorised signatories of Dolphin NB3 Fleetcomm and
Hugo and signed by Mark Lawrence Temple and Andrew Robert Temple the date and
year first above written
SIGNED for and on behalf of
DOLPHIN TELECOMMUNICATIONS LIMITED
/s/ Unknown Name
SIGNED for and on behalf of
NATIONAL BAND THREE LIMITED
/s/ Unknown Name
SIGNED for and on behalf of
FLEETCOMM LIMITED
/s/ Unknown Name
SIGNED by MARK LAWRENCE TEMPLE
/s/ Mark Lawrence Temple
SIGNED by ANDREW ROBERT TEMPLE
/s/ Andrew Robert Temple
SIGNED for and on behalf of
HUGO INTERNATIONAL LIMITED
/s/ D. W. Foden
<PAGE> 103
THIS AGREEMENT MADE 19TH MARCH 1999
BETWEEN:
(1) R S HILL & SONS of Acacia House 49 Trinity Street Fareham, Hampshire PO16
7SQ ("RSH")
(2) MARK LAWRENCE TEMPLE of l0a Coultas Road Hiltingbury Chandlers Ford
Hampshire SO53 5BD and ANDREW ROBERT TEMPLE of 77 Park Road Chandlers Ford
Hampshire SO53 2EL who together trade as PRO-COMM RADIO COMMUNICATIONS
("Pro-comm")
(3) HUGO INTERNATIONAL LIMITED whose registered office is situate at 122A
Nelson Road Whitton Twickenham Middlesex TW2 7AY ("Hugo")
RECITALS
(1) By an agreement made on 14th July 1994 between (1) RSH and (2) Pro-comm
("the Agreement") RSH granted certain non-exclusive rights to provide
mobile radio telecommunications services as described in the Agreement
subject to the terms and conditions of the Agreement.
(2) By an agreement made on 8th March 1999 between (1) Pro-comm and (2) Hugo
Pro-comm agreed to sell the business presently carried on by it to Hugo
including (inter-alia) contracts between Pro-comm and its customers for the
provision of the mobile radio telecommunications services described in the
Agreement.
(3) Pro-comm now wishes to assign the benefit and the burden of the Agreement
to Hugo and RSH has agreed to consent to such assignment on the terms
hereinafter set out.
WHEREBY IT IS AGREED as follows:
1. ASSIGNMENT
IN consideration of the sum of Pound Sterling1.00 now paid by Hugo to
Pro-comm (the receipt whereof is hereby acknowledged) Pro-comm HEREBY
ASSIGNS with full title
<PAGE> 104
guarantee to Hugo all the Agreement and the full benefit of the same and
all Pro-comm's right title and interest therein and (subject to the terms
of this Agreement) all money payable or to become payable under it and all
other rights and benefits whatever accruing thereunder to Pro-comm TO HOLD
to Hugo absolutely but (save as provided for in this Agreement) subject to
the due discharge and performance and observance by Hugo of all the
obligations and liabilities of Pro-comm created by or arising by reason of
some non-performance of the Agreement on or after the date of this
Agreement.
2. HUGO'S UNDERTAKING AND INDEMNITY
2.1 SUBJECT to the provisions of this Agreement Hugo undertakes with Pro-comm
that as from the date of this Agreement Hugo will observe and perform the
provisions of the Agreement on the part of Pro-comm to be observed and
performed.
2.2 HUGO further undertakes with Pro-comm to indemnify Pro-comm and keep them
fully indemnified against all liabilities losses actions proceedings costs
claims demands and expenses brought or made against Pro-comm arising from
the future non-observance or non-performance by Hugo of those provisions of
the Agreement on the part of Pro-comm to be observed and performed subject
nevertheless to the terms of this Agreement.
3. CONSENT TO ASSIGNMENT
IN consideration of the undertakings on the part of Pro-comm and Hugo
hereinafter contained RSH HEREBY CONSENT to the Assignment of the Agreement
set out in clause 1.
4. ARRANGEMENTS FOR PRO-COMM
4.1 PRO-COMM undertakes with RSH to pay all charges due to RSH pursuant to the
Agreement for the mobile radio telecommunications services (as described in
the Agreement) provided by Pro-comm up to but not including the date of
this Agreement in cleared funds by 15th March 1999.
<PAGE> 105
4.2 RSH undertakes to pay to Pro-comm all sums due to Pro-comm (including but
without prejudice to the generality of the foregoing connection bonuses)
pursuant to the terms of the Agreement in cleared funds by 15th March 1999.
4.3 RSH and Pro-comm agree that such sums as may be due to Pro-comm by clause
4.2 shall be set off against the sums due pursuant to clause 4.1.
5. ARRANGEMENTS FOR HUGO
HUGO undertakes with RSH to pay to RSH all charges due to RSH pursuant to
the Agreement for mobile radio telecommunications services (as described in
the Agreement) provided by Hugo pursuant to the terms of the Agreement from
and after the date of this Agreement.
AS WITNESS signed by the authorised signatories of RSH and Hugo and signed by
Mark Lawrence Temple and Andrew Robert Temple the day and year first above
written
SIGNED for and on behalf of
R S HILL & SONS
/s/ Ashwin C. Hill
SIGNED by MARK LAWRENCE TEMPLE
/s/ Mark Lawrence Temple
SIGNED by ANDREW ROBERT TEMPLE
/s/ Andrew Robert Temple
SIGNED for and on behalf of
HUGO INTERNATIONAL LIMITED
/s/ D. W. Foden
