國(guó)外律師事務(wù)所起草的專業(yè)股權(quán)并購(gòu)意見書

LETTEROFINTENTOctober4,2004立To:幕Airwa燙vesS棚ound范Desig膊nLtd榨.

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強(qiáng)ofAi花rwave怒sSou連ndDe旱sign悄Ltd.繁andA外irwav渣esDi尿gital栽Grou極pLtd扯.ThefollowingsetsoutthebasictermsuponwhichwewouldbepreparedtopurchasetheShares.Thetermsarenotcomprehensiveandweexpectthatadditionalterms,includingreasonablewarrantiesandrepresentations,willbeincorporatedintoaformalagreement(the"FormalAgreement")tobenegotiated.Thebasictermsareasfollows:1.Purchaser:InternetS,Inc.(the"Purchaser")2.Target:AirwavesSoundDesignLtd.andAirwavesDigitalGroupLtd.(collectively,the"Target")3.PrincipalShareholders:AlexDownieandanyothershareholdersoftheTarget(the"Vendors")4.Shares:ThePurchaseragreestopurchasefromtheVendorsandtheVendorsagreetosell,assignandtransferandtocauseallholdersoftheSharestosell,assignandtransfertothePurchaser,theSharesfreeandclearofallliens,chargesandencumbrances.5.Transaction:ThePurchaser,theTargetandtheVendorswillenterintoabusinesscombination(the"Combination")wherebythePurchaserwillacquirealloftheissuedandoutstandingsecuritiesoftheTargetfromalltheVendorsinexchangefor500,000sharesinthecapitalofthePurchaserandoptionstopurchase1,500,000sharesinthecapitalofthePurchaseratanexercisepricepershareequaltothepricepersharepaidbytheinstitutionalinvestorsintheFinancing(asdefinedherein),whichoptionswillvestasismutuallyagreedtoamongthePurchaserandtheVendors(the"Acquisition").6.Structure:InordertofacilitatetheAcquisition,thePurchaser,theTargetandtheVendorsagreethateachwillusetheirbesteffortstoformulateastructurefortheCombinationwhichisacceptabletoeachofthepartiesandwhichisformulatedto:complywithallnecessarylegalandregulatoryrequirements;minimizeoreliminateanyadversetaxconsequences;andbeascosteffectiveaspossible.-2-7.Financing:TheVendorshaveadvisedthePurchaserthatitwillarrangefortheprivateplacementofsharesinthecapitalofthePurchaserforaminimumof$2million,whichinvestmentwillcloseonorbeforetheClosing(asdefinedherein)andwillbeonthesametermsastheinvestmenttobemadebyinstitutionalinvestorsbeingarrangedbythePurchaser'sadvisors,WestLBSecurities(the"Financing").AportionoftheproceedsraisedinconnectionwiththistransactioncontemplatedbythisLetterofIntent,shallbeallocatedtowardthepurchaseofacompanyinvolvedinpostproductionvideoservicesontermsacceptabletothePurchaser.話8.咬Acces巧sto看Infor亂matio肆n裝:Imm柱ediat臘elyu泡pone接xecut性iono水fthi素sLet逐tero刻fInt繁ent,篩theP享urcha視sera孔ndit嗽sadv潔isors在will姑have能full夠acce椒ssdu更ring屆norma焰lbus廉iness晃hour司sto,曉ort妄heTa我rget巖andt摧heVe喜ndors宴will愈deli退vert屋othe巡Purc堤haser你,cop蜓ieso糾fall朋docu爐ments按(the修"Mat映erial村s")p習(xí)ertai讀ning拖toth攝eope舟ratio臭nsof鋼the斬Targe例t.接9.公Condi膚tion(廉s)Pr扶ecede臺(tái)nt休:The趴obli橋gatio翁nof孫theP昏urcha租sert左opur革chase科the但Share郵swil巾lbe陰subje雅ctto扁sati熔sfact俊iono公rwri撲tten漆waive詳rby跪theP踏urcha聯(lián)sero曉fthe屆foll麥owing湯cond龍ition少(s)(栗the"搬Condi侄tions冊(cè)Prec僑edent時(shí)")wi尊thin爹10da叉ysaf布tere刺xecut樣iona左ndde莖liver網(wǎng)yof糕theF筆ormal啊Agre暖ement托:朱revie搞wand循appr住oval育ofal使lmat吃erial炕sin瓦thep轎osses圣sion徐andc惱ontro取lof鈴theT釣arget漠a(chǎn)nd橋theV桶endor痰swhi圾char薯eger巾mane炕toth似edec導(dǎo)ision的top依urcha金seth農(nóng)eSha府res;剖theP烘urcha隔sera套ndit溝ssol殘icito狂rsha逗ving釘hada術(shù)reas下onabl勝eopp峽ortun怖ityt茂oper透form贏thes按earch臥esan堅(jiān)doth挖erdu族e(cuò)dil粘igenc解erea字sonab愧leor大cust上omary焦ina豈tran桂sacti灘onof量asi丈milar芳natu衡reto優(yōu)that喘cont起empla屆tedh強(qiáng)erein艷and蚊that懼both何thes腿olici鼠tors康andt厲hePu衫rchas圓erar誰(shuí)esat悶isfie靈dwit錦hthe督resu航ltso上fsuc京hdue藍(lán)dili微gence母;隱theP逃urcha草sera伯ndit嘩sacc史ounta在ntha爸ving炸hada況reas續(xù)onabl鞏eopp碰ortun誦ityt堤orev遭iewt抽heau漢dited修fina農(nóng)ncial范stat委ement柔s(in捐cludi咱ngco貢r(shí)pora昂teta裝xret士urns,忌gene落rall自edger受list被ings,省adju昏sting允entr病iesa銷ndop幫ening掉tria皂lbal尸ances派)of巖theT鎮(zhèn)arget族,pre振pared甩ina仔ccord今ance慮with費(fèi)gener恒ally痕accep蘆teda煎ccoun獄ting漠princ泛iples瘋and筋that料both冠theP筐urcha鞏sera田ndit罷sacc母ounta概ntar勺esat圖isfie虛dwit月hthe貓cont正ento鴨fsuc胡hfin叼ancia舍lsta俊temen遣ts;俗satis痛facto挽ryar泛range出ments牛bein役gmad秤eto烏hire托hourl坑yand廊sala迎ried械staff俱nece擱ssary鬼too炊perat作ethe蛙busi蜻ness倍ofth尖eTar揀geti輔nclud漫ingt矩heTa裹rget畜enter贊ingi雁ntoa貴nexe音cutiv壇eman含ageme仙ntco淋ntrac堡twit肢hAle舌xDow撲nie;廚theP歉urcha哲sero削btain慰ingt青heco懶nsent新from希any游parti簽esfr驅(qū)omwh嫩omco朝nsent吐tot剖hetr帶ansfe籌rof改theS顛hares拳isr態(tài)equir松ed;貨theP妖urcha昏sero柔btain鬧ingc舞onfir暢matio賊ntha薄tany樸name尖suse蠢din欺theb似usine篩ssof庫(kù)the霉Targe過tis鳳avail合able傻foru好seby練the秘Purch故aser格andc吉anbe青regi剪stere怕das蠻atra茫dema襪rkof比the舞Purch袍aser;利嬸noma攝teria籃ladv渣erse鎖chang聞ehav忌ingo號(hào)ccurr發(fā)edin孩conn冷ectio等nwit嗚hthe斑busi鐮ness好ofth制eTar拔geto守rthe棉Shar填es;-3-倡allr嗓epres幼entat桌ions債andw榮arran治ties悉ofth顧eTar炒geta為ndth閣eVen蒜dors熱being想true汗and姜allc鄭ovena循ntso帥fthe索Targ稅etan楚dthe受Vend中orsh腔aving地been聲perf糧ormed米ina導(dǎo)llma蝴teria奪lres政pects票aso綱fthe被Clos禿ing;創(chuàng)nole辱galp輝rocee譽(yù)dings秤pend桐ingo考rthr挖eaten咽edto餡enjo昂in,r牙estri漠ctor呀proh蹲ibit寬thet釀ransa公ction快scon妹templ訂ated榜inth巧isLe捕tter中ofIn未tent;舞鍋asat含isfac柱tory焰legal惑opin亡ionb窄eing農(nóng)avail避able徹from毒Vendo麥rs'c展ounse稀l;茫compl刺etion保ofs駛atisf脊actor礙yphy體sical隸insp急ectio蟻nof曉thea清ssets夸oft畏heTa盞rget;帆簡(jiǎn)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