LETTER OF INTENT
Date August 5, 2002
Parties :
(1) XXXX XXXX XXX, XXXXX of Flat 4E, Block 16, Provident Centre, 00 Xxxxx
Xxxx, Xxxxx Xxxxx, Xxxx Xxxx. ( " the Purchaser " )
(2) PROTECTSERVE PACIFIC LIMITED whose registered office is situate at
0000-0, 00xx Xxxxx, 000 Xxxxxxxx Xxxxxx, Xxxxx Xxxxx, Xxxx Xxxx ("the
Vendor ").
WHEREAS :-
1. The Vendor is a company incorporated in Hong Kong, engaged in the
business of developing and marketing the web-based Surveillance
Internet Monitoring Systems in the Greater China region and a wholly
owned subsidiary of the Link Group Inc.
2. INFOTECH NETWORKS & CABLING LIMITED whose registered office is situate
at 8th Floor, Mansion Industrial Building, XXX 000X Xxxx Xxxx,
Xxxxxxxxx, Xxxx Xxxx ("Infotech"), is a company incorporated in Hong
Kong with an authorized capital of HK$2.00 divided into 2 ordinary
shares of HK$1.00 each which have been issued or subscribed and fully
paid up.
3. Infotech is a network solutions and equipment supplier specialising in
the computer data wiring especially in fiber optic installation and
systems consultancy services.
The Vender hereby intends to Sell 100% of Infotech to the Purchaser and the
Purchaser intends to Buy 100% of Infotech from the Vender according to the
following terms and conditions: -
1. The Purchase price shall be HK$14,850,000 ( Fourteen Million Eight
Hundred and Fifty Thousand HK Dollars ) comprised of CASH HK$1,200,000
( One Million and Two Hundred Thousand ) and 7,000,000 of The Link
Group Inc shares stock valued at US$0.25 ( HK$1.95 ) to the Vendor.
2. Valuation date of the transaction is agreed to be June 30, 2002.
3. Both parties agree that a definitive agreement should be signed before
the end of August.
4. Time is of the essence of this Letter of Intent.
5. This agreement is subject to due diligence and Board of Director
approval.
IN WITNESS whereof the parties hereto have hereunto executed this Letter of
Intent the day and year first above written.
by Xxxx Xxxx Tak, Xxxxx
/s/ Xxxx Xxxx Xxx, Xxxxx
-------------------------------- )
by Protectserve Pacific Ltd
/s/ Xxxxxx Xxxx
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