Document:

Exhibit 10.1

 

Share Purchase Agreement

 

 

 

(the "Agreement")

 

 

dated 18 December 2015

 

 

between

 

 

 

Oakridge Global Energy Solutions (Hong Kong) Ltd., Units 306 & 307, 3/F, Wing Tuck Commercial Centre, 177-183 Wing Lok Street, Sheung, Hong Kong

 

("Seller A")

 

and

 

Precept Fund Management SPC on behalf of Precept Fund Segregated Portfolio, Ground Floor, Harbour Centre, P.O. Box 1569, George Town, Grand Cayman KY1-1110, Cayman Islands

 

("Seller B" and together with Seller A, the "Sellers")

 

 

and

 

Precept Fund Management SPC, Ground Floor, Harbour Centre, 42 North Church Street, George Town, Grand Cayman KY1-1110, Cayman Islands

 

 

and

 

Golden Partner International SA SPF, 7 Boulevard Emmanuel Servais, 2535 Luxemburg

 

("Purchaser")

 

 

regarding

 

the purchase and sale of 11,248,822 shares of Leclanché SA, ("Company")

 

2

Share Purchase Agreement

 

Preamble

 

The Company is a Swiss share corporation, having its registered office at Avenue des Sports 42, 1400 Yverdon-les-Bains, Switzerland, company number CH-550.0.085.092-7.

 

The Sellers desire to sell a total of 11,248,822 registered shares ("Shares") of the Company and Purchaser desires to purchase 11,248,822 registered shares of the Company, according to the terms and conditions set out in this Agreement.

 

 

	1.	Sale and Purchase of Shares

 

 

	1.1	Shares

 

Seller A sells 11,000,000 Shares to Purchaser and Seller B sells 248,822 Shares to Purchaser and Purchaser purchases the 11,248,822 Shares from Sellers.

 

 

	1.2	Purchase Price

 

The purchase price ("Purchase Price") for the 11,248,822 Shares is CHF 20,247,879.

 

 

	1.3	Transfer of Risk and Benefit

 

Risk and benefit shall pass at the closing upon transfer of the Shares.

 

 

	2.	Closing

 

 

	2.1	Time of Closing

 

The consummation of the purchase and sale provided for in this Agreement will take place by payment against delivery by

 

		-	Purchaser making a payment of the amount of (i) CHF 15,840,000, to the account with DBS Bank (Hong Kong) Ltd. of Seller A with value date 22 December 2015 or such later date as mutually agreed between the parties and (ii) CHF 1,980,000 immediately after one representative of the Purchaser has been appointed to the board of the Company and (iii) CHF 1,980,000 immediately after a second representative of the Purchaser has been appointed to the board of the Company, provided that the amounts owed pursuant to (ii) and (iii) herebefore shall be owed to the extent that one or two representatives, respectively, of the Purchaser were elected to the board of the Company within 180 days after the date of this Agreement.

 

		-	Purchaser making a payment of (i) CHF 358,303 to the account with DBS Bank (Hong Kong) Ltd. of Seller B with value date 22 December 2015 or such later date as mutually agreed between the parties and (ii) CHF 44,788 immediately after one representative of the Purchaser has been appointed to the board of the Company and (iii) CHF 44,788 immediately after a second representative of the Purchaser has been appointed to the board of the Company provided that the amounts owed pursuant to (ii) and (iii) herebefore shall be owed only to the extent that one or two representatives, respectively, of the Purchaser were elected to the board of the Company within 180 days after the date of this Agreement.

 

3

Share Purchase Agreement

 

		-	Seller A and Seller B transferring the 11,248,822 Shares to the account with Edmond de Rothschild (Suisse) SA of Purchaser with value date 22 December 2015 or such later date as mutually agreed between the parties.

 

Trade date shall be 22 December 2015 and Purchaser and Sellers shall exchange instructions for payment and transfer on 22 December 2015 or such later date as mutually agreed between the parties.

 

 

	2.2	Bank and closing details

 

The account details for the payment of amounts of the Purchase Price for the bank of the Seller A are:

 

DBS Bank Ltd., Hong Kong Branch

18th Floor, The Center

99 Queens Road Central

Hong Kong

DBS Bank Code: 016

Branch Code: 478

SWIFT Code: DHBKHKHH

A/C Number (CHF): XXXXXXX

 

The account details for the payment of amounts of the Purchase Price for the bank of the Seller B are:

 

DBS Bank (Hong Kong) Limited

18th Floor, The Center

99 Queens Road Central

Hong Kong

DBS Bank Code: 016

Branch Code: 478

SWIFT Code: DHBKHKHH

Multicurrency Account: XXXXXXX

 

The account details for the transfer of the Shares for the bank of the Purchaser are:

 

Edmond de Rothschild (Suisse) SA

18 rue de Hesse

1204 Geneva

Switzerland

BIC : PRIBCHGGXXX

SIS ID CH103275

a/c 2360786000

EDR (EUROPE)

 

 

	3.	Representations and Warranties

 

Each of the Sellers represents and warrants for itself to the Purchaser that on the date of this Agreement:

 

		(a)	it is the sole legal and beneficial owner, free from encumbrances, liens etc. of the

 

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Share Purchase Agreement

 

respective Shares;

 

		(b)	there are no agreements in relation to the Shares that would jeopardize a sale of the Shares under this Agreement;

 

		(c)	the execution, delivery, completion and performance of this Agreement does violate neither any law, nor any judgment;

 

		(d)	neither of the Sellers is a creditor or debtor of the Company, or has any present or future rights whatsoever against the Company after the transfer of the Shares under this Agreement; and

 

		(e)	neither of the Sellers has granted any currently valid guarantees or security of whatever nature for obligations of the Company, or is the beneficiary of any currently valid guarantees or security granted by the Company.

 

 

	4.	Undertakings

 

Precept Fund Management SPC undertakes as a condition to closing of this Agreement to

 

		(a)	arrange that Stephen Barber will enter into a fiduciary agreement between Stephen Barber and the Purchaser until 22 December 2015 or such later date mutually agreed between the parties, under which Stephen Barber agrees to sit on the board of the Company for 12 months once appointed and to report to and to act on the instructions of the Purchaser as a fiduciary and as can be reasonably expected from such fiduciary.

 

		(b)	arrange to deliver to the Purchaser a copy of the share ledger of the Company (or such proof satisfactory to the Purchaser) until 22 December 2015 or such later date mutually agreed between the parties evidencing the present shareholding of the Sellers in the Company.

 

		(c)	arrange a telephone call within two business days after the date of this Agreement between the Purchaser and the CEO or another executive member of the Company.

 

 

	5.	Information, Assistance and Cooperation

 

Each party shall furnish to the other such necessary information and reasonable assistance as the other may request in connection with its preparation of any filing which is necessary under applicable law.

 

 

	6.	Miscellaneous

 

 

	6.1	Confidentiality

 

		(a)	Purchaser and Seller will maintain in confidence, and will cause their representatives to maintain in confidence, the terms of this Agreement, unless (i) to the extent such terms are already known to the public, (ii) the disclosure of such terms is necessary or appropriate in making any filing, (iii) the disclosure of such

 

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Share Purchase Agreement

 

terms is necessary in connection with legal or other official proceedings, or (iv) the disclosure is approved in writing by the other party.

 

		(b)	If this Agreement is not consummated, each party will return or destroy as much of such written information as the other party may reasonably request.

 

 

	6.2	Expenses; Taxes

 

		(a)	Each party will bear its own cost, including the fees of its counsels and advisors.

 

		(b)	Each party bears the taxes which are levied on it as a consequence of the signing and/or closing of this Agreement.

 

 

	6.3	Notices

 

All notices under this Agreement must be in writing or by email.

 

 

	6.4	Further Assurances

 

The parties agree (i) to furnish upon request to each other such further information, (ii) to execute and deliver to each other such other documents, and (iii) to do such other acts and things, all as the other party may reasonably request for the purpose of carrying out the intent of this Agreement and the documents referred to in this Agreement.

 

 

	6.5	Amendments

 

This Agreement (including this section) shall not be amended or modified except by a document in writing duly executed by the Sellers and the Purchaser.

 

 

	6.6	Severability

 

Any provision of this Agreement wholly or partially in conflict with any mandatory legal provisions of Swiss law shall be severable and the total or partial invalidity of such a clause shall not affect either the validity of the remainder of the clause concerned, or of the other clauses of this Agreement.

 

 

	6.7	No Waiver

 

The failure of one of the parties to enforce any of the provisions of this Agreement or any rights with respect thereto shall in no way be deemed a waiver of such provisions or rights or in any way affect the validity of this Agreement. The waiver of any breach of this Agreement by one of the parties shall not be construed as a waiver of any other prior or subsequent breach of this Agreement.

 

 

	6.8	Entire Agreement

 

This Agreement, which form an integral part thereof, contain all the terms, conditions, representations, warranties, covenants and obligations agreed between the parties in relation to the purposes of this Agreement and replace all the parties' previous agreements and undertakings, whether written or oral, in relation to the purposes of this Agreement.

 

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Share Purchase Agreement

 

7. Governing Law; Out-of-Court Settlement; Arbitration Clause

 

 

	7.1	Governing Law

 

This Agreement shall be subject to and governed by the laws of Switzerland.

 

 

	7.2	Out-of-Court Settlement; Arbitration

 

At first the parties shall try to find an amicable solution.

 

If the parties cannot agree on an amicable solution within 30 days upon receipt by one party of written notice from the other party making reference to this section, all disputes arising out of or in connection with the Agreement, including disputes on its conclusion, binding effect, amendment and termination shall be resolved, to the exclusion of the ordinary courts by a three-person Arbitral Tribunal in accordance with the International Arbitration Rules of the Zurich Chamber of Commerce.

 

If there are not more than two parties involved in the procedure, each party nominates an arbitrator.

 

The decision of the Arbitral Tribunal shall be final, and the parties waive all challenge of the award in accordance with Art. 192 Private International Law Statute.

 

7

Share Purchase Agreement

 

 

 

___________________

Place, Date

Oakridge Global Energy Solutions (Hong Kong) Ltd.

___________________

Stephen Barber

 

___________________

Place, Date

Precept Fund Management SPC on behalf of Precept Fund Segregated Portfolio

___________________

Stephen Barber

___________________

Place, Date

 

Golden Partner International SA SPF _

 

___________________                      ___________________

Olivier Wibratte                                      Catherine Roux-Sevelle

___________________

Place, Date

Precept Fund Management SPC

___________________

Stephen BarberExhibit 10.2

 

ASSET PURCHASE AGREEMENT

 

ASSET PURCHASE AGREEMENT ("this Agreement"), made as of October 20, 2014 by and between Oak Ridge Energy Technologies, Inc., a Colorado corporation ("Oak Ridge") and Bren-Tronics, Inc., a New York corporation ("BT).

 

Introduction.  BT owns certain equipment located at 6845 Snowdrift Road, Allentown, Pennsylvania (the "Allentown Facility") and at 12871 U.S. HWY. 441, Alachua, FL (the "Florida Facility) that Oak Ridge wishes to buy and BT wishes to sell to Oak Ridge, all under the terms and conditions of this Agreement.

 

1. Purchase of Assets.

 

1.1 Purchase.  Effective as of the Closing Date hereof, Oak Ridge purchases from BT the "Purchased Assets" as defined below.  For the avoidance of doubt, the Purchased Assets shall not include the "Excluded Assets listed Schedule A-3 attached hereto.

 

1.2 Purchased Assets.  The Term Purchased Assets shall mean and include:

 

(a)  Those assets listed on Schedule A-1 attached hereto, if and to the extent that such assets are located in the Allentown Facility as of the date hereof,

 

(b) Those assets listed in Schedule A-2; and

 

(c) Any and all records, documentation, operating instructions, user manuals, schematics and other documentation that BT possesses regarding the operation of any of the assets list in (a) or (b) above.

 

2. Purchase Price.  As consideration for the sale of the Purchased Assets, Oak Ridge will pay BT $150,000 and, in addition, will pay BT $5,000 to compensate BT for the cost of delivery of the items listed in 1.2(b) above.

 

3. Closing.  The Closing shall occur on October 20, 2014 by exchange by the parties of:

 

3.1 A certified check from Oak Ridge made to the order of and delivered to BT in the amount of $155,000;

 

3.2 A Bill of Sale from BT in the form attached hereto as Exhibit B, delivered to Oak Ridge.

 

4. Delivery.

 

4.1 Allentown Facility.   It shall be the responsibility of Oak Ridge to remove the Purchased Assets located at the Allentown Facility and listed in Schedule A on or before December 15, 2014.  From the Closing until December 15, 2014, BT will grant Oak Ridge unlimited access to the Allentown, Facility to disconnect, disassemble, prepare for shipping,

 

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remove and load all the Transferred Assets listed in Schedule A-1.  As an additional service, Oak Ridge agreed to remove everything located at the Allentown Facility, on or before December 15, 2014, except for the Excluded Asset, listed in Exhibit A-3, and Oak Ridge will have a team perform a general pick-up / cleaning of the facility after removal of all equipment and before December 15, 2014.  Any equipment or items not moved will be disposed in a proper manner.

 

4.2 Florida Facility.  BT will arrange for a contractor to deliver the Purchased Assets listed in Schedule A-2 to Oak Ridge at 751 North Drive, Suite 9, Melbourne, FL 32934, on or before November 30, 2014.

 

5. Transfer of Know-How.  To facilitate the transfer of know-how to Oak Ridge as to the operation of the Transferred Assets, BT will make available Blake Trauger or another person familiar with the operation of such equipment, to travel to and spend up to two weeks at Oak Ridge's facility in Melbourne, Florida, to instruct Oak Ridge personnel in such operation.  Oak Ridge shall be responsible for the cost of such person's transportation to and from Oak Ridge's facility and for such person's hotel and other reasonable out of pocket expenses, but BT will be responsible to pay such person's salary during such period.  It shall be Oak Ridge's responsibility to arrange for and schedule such visit, provided that such availability must be arranged to have occurred and been completed no later than March 31, 2015.

 

6. Risk of Loss/ Indemnification.

 

6.1 Risk of Loss.   Risk of Loss as to the Transferred Assets shall remain with BT until the Closing, at which time Risk of Loss shall pass to Oak Ridge.

 

6.2 Indemnification.  Oak Ridge hereby indemnifies and holds BT harmless from all claims, costs, or other liabilities arising for any damages to the Allentown Facility resulting from (a) damages to such facility caused by Oak Ridge or its agents in removing the Transferred Assets; and (b) any failure by Oak Ridge to comply with its obligation under Sec.4.1 above on or before December 15, 2014, including for liabilities of BT for additional rent at the Allentown Facility or forfeiture of security deposit due to delay in Oak Ridge complying with Sec.4.1 above; and (c) any claim for damages to person or property resulting from Oak Ridge's use of the Transferred Assets.   Oak Ridge will maintain liability insurance of at least $2,000,000 covering its liability for removing Transferred Assets from the Allentown Facility and shall have BT (and at BT's request, the landlord of the Allentown Facility) named as additional insured under such policy. Such policy shall include a waiver of Subrogation.

 

7. Representations and Warranties.

 

7.1 Representations and Warranties.  BT represents and warrants to Oak Ridge that:

 

(a) BT is duly authorized to enter into and perform this Agreement, and is in good standing in any jurisdiction where the lack of such standing would prohibit it from full compliance with all of its obligations hereunder; and

 

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(b) BT has good and clean title to the Transferred Assets and is transferring the Transferred Assets to Oak Ridge free and clear of all liens, encumbrances and other charges of any kind or nature whatsoever.

 

7.2 No Other Representations or Warranties.  Except as expressly provided in Sec.4.2 and Sec.7.1 above, (a) BT sells the Transferred Assets to Oak Ridge on an "as-is, where-is" basis, and (b) BT makes no representations and warranties and  excludes all express and implied representations and warranties regarding the Transferred Assets or this Agreement, including, without limitation, all warranties of Merchantability and warranties of Fitness for Particular Purposes.

 

7.3 Exclusion of Certain Damages. Neither party hereto will be liable to the other for indirect, consequential, special, incidental, or punitive damages, even if such damages were foreseeable

 

8. Miscellaneous.

 

8.1 Governing Law, Jurisdiction.   This Agreement shall be governed by the laws of the State of New York, excluding its conflict of laws principles.   The state and local courts in Suffolk County New York and Brevard County Florida shall have jurisdiction over any dispute relating to or arising out of this Agreement, provided that the parties agree that the proper venue of any such litigation shall be Brevard Florida, if commenced by BT and Suffolk County New York if commenced by Oak Ridge

 

8.2 Counterparts.  This Agreement may be signed in any number of counterparts with the same effect as if the signatures thereto and hereto were upon the same instrument. Delivery of an executed signature page of this Agreement by facsimile or other electronic transmission shall be effective as delivery of a manually executed counterpart thereof.

 

8.3 Entire Agreement.  This Agreement and the Schedules attached hereto embody the entire agreement and understanding between Oak Ridge and BT with respect to the subject matter hereof and supersedes all prior agreements and understandings relating to such subject matter.  The headings in this Agreement are for convenience of reference only and shall not limit or otherwise affect any of the terms or provisions hereof.  The Parties have participated jointly in the negotiation and drafting of this Agreement. In the event an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the Parties and no presumption or burden of proof shall arise favoring or disfavoring any Party by virtue of the authorship of any of the provisions of this Agreement.  This Agreement may not be orally modified or amended—rather it may be amended only be a written agreement executed by both parties.

 

In Witness Whereof, the parties have caused this Agreement to be executed as of this 20th, day of October, 2014

 

Page 3 of 6

 

 

	
L. Lee Arrowood

	 	 	 	
Sai Fung

	 	 
	
Oak Ridge Energy Technologies, Inc.

	 	 	 	
Bren-Tronics Batteries International LLC.

	 	 

 

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SCHEDULE A

Schedule A-1 Assets Located as Allentown Facilities:

		·	All raw materials.  Powders, metal foils, chemicals, work in process, housings, and other materials that would be used in the processing or production of product at the Allentown Facility.

		·	All parts, tooling, calibration equipment, measurement gauges, replacement parts, spare parts, maintenance gear and any other components for use in the manufacturing equipment or repair & maintenance thereof at the Allentown Facility or in support of the mixers at the Florida Facility.

		·	Coating lines and all equipment, piping, electrical facilities, carts, housings, motors, and other components that could be used in support of these coating lines at the Allentown Facility.

		·	Slitting equipment and all components that would be used in the support of the slitting equipment or operation of this process at the Allentown Facility.

		·	Electrode Stamping & Calendaring equipment and all components that would be used in the support of these operations at the Allentown Facility.

		·	Electrode stacking equipment and all components that would be used in the support of these operations at the Allentown Facility.

		·	Ovens, including all vacuum, drying, humidity, and any other ovens and supporting components that would be used to support the operation of said ovens in the Allentown Facility.

		·	Dry room and all equipment contained therein along with the support equipment contained outside and elsewhere within the facility including piping and electrical load panels.

		·	Formation equipment and all supporting components including computing equipment, electrical load panels, cables, spare parts, and all other equipment & documentation for the Allentown Facility.

		·	All facility equipment such as warehouse equipment, forklifts, charging stations, packing equipment, inventory control equipment and facilities, and all other such equipment and components in the Allentown Facility.

		·	All office, laboratory, conference room, and other common area equipment such as desks, cubicles, computing equipment, telephone systems, chairs and all other equipment in support of the administration/overhead functions in the Allentown Facility.

		·	All documentation, vendor lists, work instructions, inventories and, and other documentation necessary for operation of the Transferred Assets that are located at the Allentown Facility

 

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		·	All other assets located at the Allentown Facility, other than the Excluded Assets listed in A-3 below.

SCHEDULE A-2  Assets Located at Florida Facility:

 

		·	1-200 liter planetary mixer with high speed mixing blade

 

		·	1-100 liter planetary mixer with high speed mixing blade

 

		·	2-transfer tanks

 

SCHEDULE A-3 Excluded Assets

 

The following Excluded Assets are not being sold to Oak Ridge and are to remain at the Allentown Facility:

 

The 7,000 amp load centers installed at the Allentown Facility to support the equipment and the Inverter System, pictures of which are attached hereto.

 

It is understood and agreed that except for know-how relating to operation of the Transferred Assets which will be transferred as provided in Sec.5 above , BT is not transferring any intellectual property to Oak Ridge.

 

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