Exhibit 10.1
DATED 10th May, 2003
INDUSTRIES INTERNATIONAL, INCORPORATED
and
KIT TSUI
THE SOLE SHAREHOLDER OF LI SUN POWER INTERNATIONAL LIMITED
and
LI SUN POWER INTERNATIONAL LIMITED
and
WUHAN HANHAI HIGH TECHNOLOGY LIMITED
and
WUHAN CITY PUHONG TRADING LIMITED
and
(HENZHEN CITY XING ZHICHENG INDUSTRIAL LIMITED
and
SHENZHEN KEXUNTONG INDUSTRIAL CO. LTD.
-----------------------------------------
SUPPLEMENTAL AGREEMENT TO POSTPONE
COMPLETION DATE OF THE SALE AND PURCHASE OF SHARES IN
LI SUN POWER INTERNATIONAL LIMITED
-------------------------------------------
YUEN & PARTNERS
SOLICITORS
10th Floor
Chiyu Bank Building
78 Des Voeux Road Central
Hong Kong
TEL: (852) 2815 2688
FAX: (852) 2541 2088
REF: 01/01/7192/01
THIS AGREEMENT is made the 10th day of May, Two Thousand and Three.
BETWEEN:
1. INDUSTRIES INTERNATIONAL, INCORPORATED, a company incorporated in the
State of Nevada, USA and listed in the Over-the-Counter Bulletin Board
under the trading symbol of "INDI" (the "PURCHASER").
2. KIT TSUI, THE SOLE SHAREHOLDER OF LI SUN POWER INTERNATIONAL LIMITED
(Holder of Hong Kong Identity Card No. P719321(5)) of 4th Floor, Wondial
Building, Keji Road Sth 6, Shenzhen High-Tech Industrial Park, Shennan
Blvd, Shenzhen, People's Republic of China (the "VENDOR").
3. LI SUN POWER INTERNATIONAL LIMITED, a company incorporated in the
British Virgin Islands whose registered office is situated at Akara
Bldg., 24 De Castro Street Wickhams Cay I, Road Town, Tortola, British
Virgin Islands (the "BVI COMPANY").
4. WUHAN HANHAI HIGH TECHNOLOGY LIMITED, a company incorporated in the
People's Republic of China, whose registered office is situated at
Yuejiaju No. 25, Xudong Road, Wuchang District, Wuhan City, China (the
"PRC 1").
5. WUHAN CITY PUHONG TRADING LIMITED, a company incorporated in the
People's Republic of China, whose registered office is situated at
(Yudai First Village No. 68, Qiaokou District, Wuhan City, China) (the
"PRC 2").
6. SHENZHEN CITY XING ZHICHENG INDUSTRIAL LIMITED, a company incorporated
in the People's Republic of China, whose registered office is situated
at No. 4-702, Hubei Baofeng Garden, 14 Xinzhou Third Road, Futian
District, Shenzhen City, China (the "PRC 3").
7. SHENZHEN KEXUNTONG INDUSTRIAL CO. LTD., a company incorporated in the
People's Republic of China, whose registered office is situated at 4th
Floor, Wondial Building, Keji Road Sth 6, Shenzhen High-Tech Industrial
Park, Shennan Blvd, Shenzhen, People's Republic of China (the "PRC 4").
PRC 1, PRC 2, PRC 3 and PRC 4 are collectively referred to as the ("PRC
COMPANIES").
WHEREAS:
(A) The parties entered into an Agreement for the Sale and Purchase of
Shares in the BVI Company dated 10th March 2003 (the "Agreement")
(B) The Completion Date as agreed in the Agreement is 10th May 2003.
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(C) The parties hereto have agreed to postpone the Completion Date to 31st
May 2003 on the terms and conditions hereinafter appearing.
NOW IT IS HEREBY AGREED AND DECLARED AS FOLLOWS:
1. AGREEMENT TO POSTPONE THE COMPLETION DATE
-----------------------------------------
1.1 All parties hereby unequivocally and unconditionally agree to postpone
the Completion Date of the Agreement to 31st May 2003.
1.2 Save and except the postponement of the Completion Date, all other terms
and conditions of the Agreement shall remain legal, valid and
enforceable.
As witness the hands of the parties hereto the day and year first above written.
SIGNED BY Industries International, )
Incorporated by its director )
)
(Holder of )
No. ) in the presence of :- )
SIGNED BY Kit TSUI, the sole )
shareholder of Li Sun Power )
International Limited )
(Holder of Hong Kong Identity Card )
No. P719321(5)) in the presence of : )
SIGNED BY Li Sun Power International )
Limited by its director )
)
(Holder of )
No. ) in the presence of : )
SIGNED BY Wuhan Hanhai High Technology )
Limited )
by its director )
(Holder of )
No. ) in the presence of :- )
SIGNED BY Wuhan City Puhong Trading )
Limited )
by its director )
(Holder of )
No. ) in the presence of :- )
SIGNED BY Shenzhen City Xing Zhicheng )
Industrial Limited )
by its director )
(Holder of )
No. ) in the presence of :- )
SIGNED BY Shenzhen Kexuntong )
Industrial Co. Ltd. )
by its director )
(Holder of )
No. ) in the presence of : )
SIGNED BY Company by its director )
)
(Holder of )
No. ) in the presence of :- )