Letter of Intent Between 37Point9 and Shanghai Ecom Trading Ltd. Regarding Potential Acquisition and Cooperation

Contract Categories: Business Operations › MOUs
Summary

37Point9, a public company, and Shanghai Ecom Trading Ltd., a private Chinese medical device distributor, have signed a letter of intent to explore cooperation in marketing their products and services and to discuss a potential acquisition of Shanghai Ecom by 37Point9. Both parties agree to form a task force to review the acquisition proposal and related financial data. The agreement also includes a confidentiality clause, requiring both parties to keep its terms private unless both consent to disclosure.

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EX-10.3 5 point9_8kex10-3.txt EXHIBIT 10.3 LETTER OF INTENT 37 Point 9 is a public listed company. Shanghai Ecom Trading Ltd, is a private company specializing in medical device distribution in China and holds a medical device sales license. Based on each party's background, all parties agree that there is a mutual interest to become part of a public listed company and expand medical products distribution in China and these parties are willing to enter into the following agreement after friendly negotiation . 1. All parties agree in principle to cooperate with each other in marketing 37Point9 and Ecom products and services. 2. All parties agree in principle to enter into an acquisition discussion between 37Point9, as a holding company, and Shanghai Ecom Trading Ltd, as a wholly owned subsidiary. 3. A1l parties on principle agree mutually to set up a task force with an aim to carry out the initial tasks relating to the cooperation between the parties including, without limitation, to reviewing an acquisition proposal and financial data. 4. All parties agree not to disclose the terms of this agreement to the public or any other parties without the prior consent of the other parties This agreement will become effective on the date signed below. /s/ Karl R. Rolls, Jr. 8/9/02 /s/ Xing Wey Chen 08/16/02 Karl R. Rolls, Jr, Xlng Wei Chen Corporate Counsel / Exec. VP Chairman 37Point9 Shanghai Ecom Trading Ltd.