Bark Group Inc. Release Letter Terminating Repurchase and Lock-Up Agreements with Original Shareholders
Bark Group Inc. has notified its original shareholders that it is terminating the previously agreed repurchase and lock-up agreements. This means Bark Group no longer has the right to repurchase the shareholders' shares, and shareholders are now free to resell their shares, as long as they follow all applicable securities laws. The letter is signed by the company's chairman and serves as formal release from the original agreement's restrictions.
BARK GROUP INC.
Ostergade 17-19, 3rd Floor, DK-1100 Copenhagen K, Denmark
August 01, 2009
TO THE ORIGINAL SHAREHOLDERS OF BARK GROUP INC.
Dear Sirs/Mesdames:
| Re: | Repurchase and lock-up agreements entered into between Bark Group Inc. (“Bark Group”, formerly Exwal Inc.) and the original shareholders of Bark Group |
We write to advise you that we have determined to terminate and release from you from your obligations pursuant to the repurchase and lock-up agreement entered into between Bark Group and yourself as an original shareholder of Bark Group (the “Repurchase and Lock-Up Agreement”), as amended on July 14, 2009 and April 3, 2009. Accordingly, we confirm that:
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Bark Group no longer has any right to repurchase your shares of Bark Group under the Repurchase and Lock-Up Agreement, and
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You may resell your shares of Bark Group without reference to the lock-up agreement originally provided for in the Repurchase and Lock-Up Agreement, provided that you comply with all applicable securities laws in completing any resale of your shares.
Yours truly,
BARK GROUP INC.
/s/ Bent Helvang
Per:
Bent Helvang, Chairman
