-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, AfFw8Xjo50W1G787wIcVoHZDArLPTtAl4t0ntnQ5Z8Q53uEWmYludv5HCumRkFvb O0Re5nvBDyQckzgtqL7FXw== 0001193125-06-095431.txt : 20060501 0001193125-06-095431.hdr.sgml : 20060501 20060501173016 ACCESSION NUMBER: 0001193125-06-095431 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 5 FILED AS OF DATE: 20060501 DATE AS OF CHANGE: 20060501 GROUP MEMBERS: KPN TELECOM B.V. FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: KONINKLIJKE KPN N V CENTRAL INDEX KEY: 0001001474 STANDARD INDUSTRIAL CLASSIFICATION: TELEPHONE COMMUNICATIONS (NO RADIO TELEPHONE) [4813] IRS NUMBER: 000000000 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: MAANPLEIN 55 CITY: THE HAGUE STATE: P7 ZIP: 2516 CK MAIL ADDRESS: STREET 1: P.O. BOX 30000 CITY: THE HAGUE STATE: P7 ZIP: 2500 GA FORMER COMPANY: FORMER CONFORMED NAME: ROYAL PTT NEDERLAND N V DATE OF NAME CHANGE: 19950927 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: EUROWEB INTERNATIONAL CORP CENTRAL INDEX KEY: 0000905428 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER INTEGRATED SYSTEMS DESIGN [7373] IRS NUMBER: 133696015 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-57093 FILM NUMBER: 06796450 BUSINESS ADDRESS: STREET 1: VAROSMAJOR UTCA 13 STREET 2: VAROSMAJOR UTCA 13 CITY: BUDAPEST STATE: K5 ZIP: 1122 BUSINESS PHONE: 36-1-8897000 MAIL ADDRESS: STREET 1: EUROWEB INTERNATIONAL CORP STREET 2: 1138 BUDAPEST VACI UT 141 CITY: BUDAPEST STATE: K5 ZIP: 1122 FORMER COMPANY: FORMER CONFORMED NAME: HUNGARIAN TELECONSTRUCT CORP DATE OF NAME CHANGE: 19950207 SC 13D/A 1 dsc13da.htm AMENDMENT NO. 15 TO SCHEDULE 13D Amendment No. 15 to Schedule 13D

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

SCHEDULE 13D

 

Under the Securities Exchange Act of 1934

(Amendment No. 15)

 

 

 

EuroWeb International Corp.


(Name of Issuer)

 

Common Stock, par value $.001 per share


(Title of Class of Securities)

 

298801408


(CUSIP Number)

 

Michiel Roovers

Koninklijke KPN N.V.

Maanplein 55

2516 CK, The Hague

The Netherlands

+31 70 446 1161

COPY TO:

Eric S. Shube, Esq.

Allen & Overy LLP

1221 Avenue of the Americas

New York, New York 10020

+1-212-610-6300


(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

 

April 28, 2006


(Date of Event which Requires Filing of this Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box.  ¨


CUSIP NO. 298801408      

 

  1   NAME OF REPORTING PERSON    
 

S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

 

 
                Koninklijke KPN N.V.    
  2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)  
  (a)  ¨  
    (b)  x    
  3   SEC USE ONLY  
   
         
  4   SOURCE OF FUNDS (SEE INSTRUCTIONS)  
   
         
  5   CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)   ¨
   
         
  6   CITIZENSHIP OR PLACE OF ORGANIZATION  
   
                The Netherlands    
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
    7  SOLE VOTING POWER
 
              0
    8  SHARED VOTING POWER
 
              1,601,405
    9  SOLE DISPOSITIVE POWER
 
              0
  10  SHARED DISPOSITIVE POWER
 
              1,601,405
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON    
   
                1,601,405    
12  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

(SEE INSTRUCTIONS)

  ¨
   
         
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)  
   
                27.4%    
14   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)  
   
                CO    

 


CUSIP NO. 298801408      

 

  1   NAME OF REPORTING PERSON    
 

S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

 

 
                KPN Telecom B.V.    
  2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)  
  (a)  ¨  
    (b)  x    
  3   SEC USE ONLY  
   
         
  4   SOURCE OF FUNDS (SEE INSTRUCTIONS)  
   
         
  5   CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)   ¨
   
         
  6   CITIZENSHIP OR PLACE OF ORGANIZATION  
   
                The Netherlands    
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
    7  SOLE VOTING POWER
 
              0
    8  SHARED VOTING POWER
 
              1,601,405
    9  SOLE DISPOSITIVE POWER
 
              0
  10  SHARED DISPOSITIVE POWER
 
              1,601,405
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON    
   
                1,601,405    
12  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

(SEE INSTRUCTIONS)

  ¨
   
         
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)  
   
                27.4%    
14   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)  
   
                CO    


This Statement relates to the Schedule 13D, dated February 24, 2000, with respect to the common stock, par value $.001 per share, of EuroWeb International Corp., a Delaware corporation (EuroWeb), as amended by amendments to the Schedule 13D dated February 20, 2002, March 4, 2002, March 12, 2002, March 20, 2002, March 28, 2002, April 4, 2002, April 5, 2002, April 23, 2002, August 5, 2003, September 23, 2003, October 3, 2003, April 19, 2004, January 31, 2005 and February 2, 2005 filed on behalf of Koninklijke KPN N.V. (KPN), a company incorporated under the laws of the Netherlands, and KPN Telecom B.V. (KPN Telecom), a company incorporated under the laws of the Netherlands and a wholly owned subsidiary of KPN.

Item 4 is hereby amended by adding the following:

ITEM 4. PURPOSE OF TRANSACTION

KPN Telecom and CORCYRA d.o.o. (CORCYRA) have entered into an amendment (the Amended Purchase Agreement) dated as of April 28, 2006 to the Stock Purchase Agreement (the Purchase Agreement) dated as of January 28, 2005, by and between KPN Telecom and CORCYRA, pursuant to which KPN Telecom and CORCYRA have amended the terms upon which CORCYRA has agreed to purchase and KPN Telecom has agreed to sell KPN Telecom’s remaining 2,036,188 shares of common stock of EuroWeb.

Pursuant to the Amended Purchase Agreement, on April 28, 2006 (the Special Closing Date), KPN Telecom sold and CORCYRA purchased 434,783 shares (the Special Purchase Shares) of EuroWeb common stock for US$1,500,000. Pursuant to the Amended Purchase Agreement, KPN Telecom has agreed to sell and Purchaser has agreed to purchase KPN Telecom’s remaining 1,601,405 shares of common stock of EuroWeb (the Final Shares) on December 1, 2006 (the Final Closing); provided, however, that upon 14 days’ prior written notice to KPN Telecom, CORCYRA may accelerate the Final Closing Date to an earlier month-end date as specified in such notice; provided, further, that the Final Closing is subject to the satisfaction or waiver of all of the conditions to closing set forth in the Amended Purchase Agreement.

At the Final Closing, CORCYRA has agreed to purchase the Final Shares for an amount equal to the sum of (x) the amount listed on Exhibit 1 of the Amended Purchase Agreement under the caption “Base Final Closing Purchase Price” that corresponds to the date of the Final Closing plus (y) the Additional Payment (as defined below) plus (z) the Premium Payments due and payable at the Final Closing (the sum of (x), (y) and (z) being the Final Closing Purchase Price). Additional Payment means, if positive, the product of (a) 1,601405, (b) 0.35 and (c) the difference between (I) the average closing price per share of Common Stock of EuroWeb on the Nasdaq Capital Market (as reported by the Wall Street Journal) for the 60 trading days ending on the second business day prior to the applicable Final Closing Date minus (II) $3.45.

Pursuant to Amendment No. 1 dated as of April 28, 2006 to the Escrow Agreement dated as of January 28, 2005, by and between KPN Telecom, CORCYRA and JPMorgan Chase Bank N.A. (the Escrow Agreement), KPN Telecom has agreed that following the Special Closing, the Special Purchase Shares will be released from escrow and transferred to Corcyra, and the Final Shares will be held in escrow until the Final Closing Purchase Price has been paid in full upon satisfaction of the closing conditions contained in the Amended Purchase Agreement or until the Amended Purchase Agreement is otherwise terminated in accordance with its terms.

References to, and descriptions of, the Purchase Agreement and the Escrow Agreement as set forth herein are qualified in their entirety by reference to the copy of the Amended Purchase Agreement and the Amended Escrow Agreement, respectively, included as Exhibits 1 and 2, respectively, to this statement, and such agreements are incorporated herein in their entirety where such references and descriptions appear.


Item 5 is hereby amended as follows:

ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.

(a) – (b) KPN and KPN Telecom are beneficial owners of 1,601,405 shares of EuroWeb common stock or 27.4% of the outstanding shares of EuroWeb common stock. These shares are owned directly by KPN Telecom, which is a wholly owned subsidiary of KPN. KPN is indirect beneficial owner of these shares. Pursuant to the Purchase Agreement, CORCYRA has agreed to purchase KPN Telecom’s remaining 1,601,405 shares of EuroWeb common stock on December 1, 2006; provided, however, that upon 14 days’ prior written notice to KPN Telecom, CORCYRA may accelerate the closing to an earlier month-end date as specified in such notice. Accordingly, pursuant to Rule 13d-3(d)(1), CORCYRA may be deemed to have shared disposition and voting power with KPN and KPN Telecom with respect to these shares. The beneficial ownership percentage reported above is based upon 5,843,067 shares of common stock of EuroWeb issued and outstanding as of March 17, 2006, as set forth in EuroWeb’s latest proxy statement on Schedule 14A filed with the Securities and Exchange Commission on April 24, 2006.

(c) As described in Item 4 of this Statement, KPN Telecom entered into the Amended Purchase Agreement and the Amended Escrow Agreement within the last 60 days.

(d) Not Applicable.

(e) Not Applicable.

Item 7 is hereby amended by adding the following:

 

ITEM 7. MATERIAL TO BE FILED AS EXHIBITS

 

Exhibit

Number

 

Description

1   Amendment No. 1 dated as of April 28, 2006 to the Stock Purchase Agreement dated as of January 28, 2005, by and between KPN Telecom B.V. and CORCYRA d.o.o.
2   Amendment No. 1 dated as of April 28, 2006 to the Escrow Agreement dated as of January 28, 2005 by and among KPN Telecom B.V., CORCYRA d.o.o. and JPMorgan Chase Bank N.A. (incorporated by reference to Exhibit 2 to the Stock Purchase Agreement, attached to this Schedule 13D as Exhibit 1)
3.1   KPN Telecom B.V. Power of Attorney dated April 27, 2006
3.2   Koninklijke KPN N.V. evidence of authorized signatory


SIGNATURE

After reasonable inquiry and to the best of their knowledge and belief, the undersigned hereby certify as of April 28, 2006 that the information set forth in this statement is true, complete and correct.

 

KONINKLIJKE KPN N.V.
By:  

/s/ MICHIEL ROOVERS

Name:   M. G. Roovers
Title:   Legal Counsel
KPN TELECOM B.V.
By:   KONINKLIJKE KPN N.V.,
  its sole Director
  By:  

/s/ MICHIEL ROOVERS

  Name:   M. G. Roovers
  Title:   Legal Counsel


EXHIBIT INDEX

 

Exhibit
Number
 

Description

1   Amendment No. 1 dated as of April 28, 2006 to the Stock Purchase Agreement dated as of January 28, 2005, by and between KPN Telecom B.V. and CORCYRA d.o.o.
2   Amendment No. 1 dated as of April 28, 2006 to the Escrow Agreement dated as of January 28, 2005 by and among KPN Telecom B.V., CORCYRA d.o.o. and JPMorgan Chase Bank N.A. (incorporated by reference to Exhibit 2 to the Stock Purchase Agreement, attached to this Schedule 13D as Exhibit 1)
3.1   KPN Telecom B.V. Power of Attorney dated April 27, 2006
3.2   Koninklijke KPN N.V. evidence of authorized signatory
EX-1 2 dex1.htm AMENDMENT NO.1 DATED AS OF APRIL 28, 2006 TO THE STOCK PURCHASE AGREEMENT Amendment No.1 dated as of April 28, 2006 to the Stock Purchase Agreement

Exhibit 1

AMENDMENT NO. 1 (this Amendment) dated as of April 28, 2006 to the Stock Purchase Agreement (the SPA) dated as of January 28, 2005, by and between KPN Telecom B.V., a limited liability company organized under the laws of The Netherlands (Seller) and Corcyra d.o.o., organized under the laws of Croatia (Purchaser).

WHEREAS:

The parties wish to amend certain terms of the SPA.

Now, therefore, in consideration of and subject to the premises and the mutual agreements, terms and conditions herein contained, the benefits to be derived therefrom and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

 

1. DEFINITIONS.

Capitalized terms used herein and not defined shall have the meanings ascribed thereto in the SPA.

 

2. PURCHASE AND SALE OF SHARES.

 

2.1 Special Purchase. Subject to the terms and conditions of this Amendment, and notwithstanding anything to the contrary in the SPA, on April 28, 2006 (the Special Closing Date) Seller shall sell and Purchaser shall purchase 434,783 Shares (the Special Purchase Shares) for US$ 1,500,000.00, subject to adjustment if the average closing price of a Share on the Nasdaq Capital Market (as reported by The Wall Street Journal) for the 60 trading days ending on the second Business Day prior to the Special Closing Date exceeds $3.45 (the Special Closing Purchase Price).

 

2.2 Special Closing. On the Special Closing Date:

 

  (a) Purchaser shall deliver to Seller:

 

  (i) payment, by wire transfer to the bank account designated by Seller on Exhibit 3 to this Amendment, immediately available funds, in U.S. dollars, in an amount equal to the Special Closing Purchase Price;

 

  (ii) the officer’s certificate referred to in Section 7.2(c) of the SPA; and

 

  (iii) an executed copy of the amendment to the Escrow Agreement in the form attached hereto as Exhibit 2 to this Amendment.

 

  (b) Seller shall deliver to Purchaser:

 

  (i) irrevocable instructions to the Escrow Agent to transfer to Purchaser one or more certificates representing the Special Purchase Shares to be purchased on the Special Closing Date;

 

  (ii) the officer’s certificate referred to in Section 7.1(c) of the SPA; and

 

  (iii) an executed copy of the amendment to the Escrow Agreement in the form attached hereto as Exhibit 2 to this Amendment.

 

1


2.3 Premium Payments. At the Final Closing, Purchaser shall make the Premium Payments set forth on Exhibit 1 to this Amendment as part of the Final Closing Purchase Price. No Premium Payments shall be due from Purchaser prior to the Final Closing.

 

2.4 Final Closing.

 

  (a) Notwithstanding anything to the contrary in the SPA, the number of Final Shares shall be 1,601,405, subject to appropriate adjustment in the event of a stock dividend, recapitalization, stock split, reverse stock split, subdivision, combination, reclassification or similar change in the Company’s capital structure.

 

  (b) Notwithstanding anything to the contrary in the SPA, at the Final Closing, Seller shall sell and Purchaser shall purchase the Final Shares for the Final Closing Purchase Price (as defined below in this Amendment).

 

  (c) Notwithstanding anything to the contrary in the SPA, the Final Closing shall take place at 4:00 pm, Central European Time, on December 1, 2006; provided, however, upon 14 days’ prior written notice to Seller, Purchaser may accelerate the Final Closing Date to an earlier month-end date as specified in such notice; provided, further, that the Final Closing is subject to the satisfaction or waiver of all of the conditions set forth in Section 7.1 and Section 7.2 of the SPA (other than those conditions that by their nature are to be satisfied at the Final Closing). The Final Closing shall occur at such location outside of the United States as the parties may mutually agree.

 

  (d) At the Final Closing, and notwithstanding anything to the contrary in the SPA:

 

  (i) Purchaser shall deliver to Seller:

 

  (A) payment, by wire transfer to the bank account designated by Seller on Exhibit 3 to this Amendment, immediately available funds in U.S. dollars in the amount equal to the sum of (x) the amount listed on Exhibit 1 to this Amendment under the caption “Base Final Closing Purchase Price” that corresponds to the date of the Final Closing as determined in accordance with Section 2.4(c) of this Amendment plus (y) the Additional Payment (as defined below) plus (z) in accordance with Section 2.3 of this Amendment, the Premium Payments due and payable at the Final Closing (the sum of (x), (y) and (z) being the Final Closing Purchase Price); and

 

  (B) the officer’s certificate referred to in Section 7.2(c) of the SPA.

 

  (ii) Seller shall irrevocably cause the Escrow Agent to transfer to Purchaser one or more certificates representing the Final Shares to be purchased at the Final Closing.

 

  (iii) Seller shall deliver to Purchaser the officer’s certificate referred to in Section 7.1(c) of the SPA.

 

  (e) As used in this Amendment, with respect to any Final Closing Date, the Additional Payment shall mean, if positive, the product of (A) 1,601,405, (B) 0.35 and (C) the difference between (I) the average closing price of a share of Company common stock on the Nasdaq Capital Market (as reported by The Wall Street Journal) for the 60 trading days ending on the second Business

 

2


Day prior to the applicable Final Closing Date minus (II) $3.45 (the Additional Payment). The Additional Payment shall be subject to appropriate adjustment in the event of a stock dividend, recapitalization, stock split, reverse stock split, subdivision, combination, reclassification or similar change in the Company’s capital structure.

 

  (f) If Purchaser shall default in the payment of any amount becoming due hereunder on the Final Closing Date (including without limitation by defaulting on its obligation to purchase the Final Shares), Purchaser shall upon Seller’s demand from time to time pay interest on such amount up to (but not including) the date of actual payment (as well as before judgment) at a rate per annum (computed on the terms of the actual number of days elapsed over a year of 360 days), to the extent permitted by law, equal to the prime rate of interest announced by Citibank N.A. on December 1, 2006 plus 15%. The foregoing shall not limit any rights or remedies that would otherwise be available to Seller. In addition, notwithstanding anything to the contrary in the SPA, if Purchaser shall fail to make any payment pursuant to this Section 2.4(f) when due, Purchaser shall also pay to Seller all of Seller’s costs and expenses (including attorneys’ fees) in connection with Seller’s efforts to collect any such amount that is due to Seller. Purchaser acknowledges that the provisions of this Section 2.4(f) are an integral part of the transactions contemplated hereby and that, without these agreements, Seller would not enter into this Amendment.

 

3. RELEASE.

Purchaser on its own behalf, and on behalf of all of its assigns, past, present and future directors, officers, members, employees, affiliates, shareholders, predecessors or successors, parent companies, wholly or partially owned direct or indirect subsidiaries and any other person or company directly or indirectly controlling, controlled by or under direct or indirect common control with Purchaser, hereby releases and discharges Seller and all of its heirs, attorneys, assigns, past, present and future directors, officers, members, employees, affiliates, shareholders, predecessors or successors, parent companies, wholly or partially owned direct or indirect subsidiaries and any other person or company directly or indirectly controlling, controlled by or under direct or indirect common control with Seller (collectively, Seller Affiliates), from those claims, actions, complaints, causes of action, demands or suits, at law or in equity, or other liabilities, known or unknown, including, but not limited to, any claims that were asserted, or could have been asserted, against Seller or any Seller Affiliates, that any of them has had, now has, or hereafter can, shall or may have concerning

 

  (i) the representations and warranties made to Purchaser in the SPA,

 

  (ii) disclosure (or any omission thereof) made by Seller in connection with the SPA and the transactions contemplated therein, or

 

  (iii) liabilities of the Company or its Subsidiaries (whenever arising) that became known or came to Purchaser’s attention after the date of the SPA.

Purchaser hereby waives any claim that any prior act or omission by Seller gives rise to any right for Purchaser to rescind or terminate the SPA.

 

4. COVENANT.

Until Final Closing, Purchaser shall use its best efforts to cause Company to deliver to Seller, promptly upon their becoming available, copies of all financial statements, proxy statements and reports as the

 

3


Company shall send or make available to its public security holders generally, all registration statements and regular periodic reports that the Company files with the United States Securities and Exchange Commission, the Nasdaq Capital Market or any other securities regulatory agency or exchange, and all press releases made available generally to the public, all of the foregoing to be delivered to Seller by mail in accordance with the notice provisions of Section 10 of the SPA, as amended by Section 6 hereto, or sent by email to Messrs. Cees Boogaerdt (cees.boogaerdt@kpn.com) and Michiel Roovers (michiel.roovers@kpn.com).

 

5. TERMINATION.

Section 8 of the SPA is hereby deleted in its entirety and replaced with the following:

The SPA, as amended by this Amendment, may be terminated at any time prior to the Final Closing:

 

  (i) by written notice from Purchaser to Seller if the conditions specified in Section 7.1 of the SPA with respect to the Final Closing have not been satisfied or waived prior to December 2, 2006, or shall have become incapable of fulfillment;

 

  (ii) by written notice from Seller to Purchaser if the conditions specified in Section 7.2 of the SPA with respect to the Final Closing have not been satisfied or waived prior to December 2, 2006, or shall have become incapable of fulfillment; or

 

  (iii) by either party if the other party is in material breach of its obligations under the SPA, as amended by this Amendment.

 

6. GENERAL.

Except as amended hereby, the SPA continues to be, and shall remain, in full force and effect in accordance with its terms. The miscellaneous provisions set forth in Section 10 of the SPA are incorporated herein by reference and deemed made a part hereof, mutatis mutandis. Section 10.1 of the SPA is hereby amended for notices to Seller as follows:

If to Seller:

KPN Telecom B.V.

Maanplein 55

2516 CK The Hague

The Netherlands

Attn: Messrs. Cees Boogaerdt and Michiel Roovers

Fax: +31 70 4464302 / +31 70 4460675

 

4


IN WITNESS WHEREOF, the parties hereto have duly executed this Amendment as of the date and year first above written.

 

CORCYRA d.o.o.

By:

 

/s/ SHALOM ATIA

Name:

 

Shalom Atia

Title:

 

Sole Officer, Director

KPN TELECOM B.V.

By:

 

KONINKLIJKE KPN N.V., its sole Director

 

By:

 

/s/ MICHIEL ROOVERS

 

Name:

  M. G. Roovers
 

Title:

  Legal Counsel

 

5


EXHIBIT 1

Final Closing Purchase Price in US Dollars*

 

Final Closing Date   Base Final Closing
Purchase Price
  Premium  

Final Closing Purchase

Price

May 31, 2006   $ 5,630,457   $ 28,560   $ 5,659,017
June 30, 2006   $ 5,659,017   $ 28,560   $ 5,687,577
July 31, 2006   $ 5,687,577   $ 28,560   $ 5,716,137
August 31, 2006   $ 5,716,137   $ 28,560   $ 5,744,697
September 30, 2006   $ 5,744,697   $ 28,560   $ 5,773,257
October 31, 2006   $ 5,773,257   $ 28,560   $ 5,801,817
December 1, 2006   $ 5,801,817   $ 28,560   $ 5,830,377

* In addition to the amounts listed on this Exhibit 1, the Final Closing Purchase Price will include the Additional Payment calculated in accordance with Section 2.4(e) of the Amendment.

 

6


EXHIBIT 2

Escrow Agreement Amendment

AMENDMENT NO. 1 (this Escrow Amendment) dated as of April 28, 2006 to the Escrow Agreement (the Escrow Agreement) dated as of January 28, 2005, by and among KPN Telecom B.V., a limited liability company organized under the laws of The Netherlands (Seller), Corcyra d.o.o., a company organized under the laws of Croatia (Purchaser), and JPMorgan Chase Bank N.A., a bank organized under the laws of the State of New York (Escrow Agent).

WHEREAS, Seller and Purchaser have entered into an amendment (the Amended Purchase Agreement) dated as of the date hereof to the Stock Purchase Agreement (the Purchase Agreement) dated as of January 28, 2005, by and between Seller and Purchaser, pursuant to which Seller and Purchaser have amended the terms upon which Purchaser has agreed to purchase and Seller has agreed to sell the 2,036,188 shares of Company common stock deposited with the Escrow Agent pursuant to the Escrow Agreement (the “Escrowed Shares”). A copy of the Amended Purchase Agreement has been delivered to the Escrow Agent. Capitalized terms used but not otherwise defined herein shall have the respective meanings given them in the Amended Purchase Agreement.

WHEREAS, pursuant to the Amended Purchase Agreement, Seller has agreed to sell and Purchaser has agreed to purchase 434,783 of the Escrowed Shares at the Special Closing for the Special Closing Purchase Price.

WHEREAS, pursuant to the Amended Purchase Agreement, Seller has agreed to sell and Purchaser has agreed to purchase 1,601,405 of the Escrowed Shares at the Final Closing for the Final Closing Purchase Price.

WHEREAS, in connection with the foregoing, the parties wish to amend certain terms of the Escrow Agreement.

Now, therefore, in consideration of and subject to the premises and the mutual agreements, terms and conditions herein contained, the benefits to be derived therefrom and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

 

1. RELEASE OF ESCROWED SHARES

 

(a) Notwithstanding anything to the contrary in the Escrow Agreement, on the Special Closing Date, upon Purchaser’s payment of the Special Closing Purchase Price pursuant to the terms of the Amended Purchase Agreement, and upon satisfaction (or waiver by Seller) of the closing conditions to Seller’s obligation contained in Section 7.2 of the Purchase Agreement, Seller shall deliver to Purchaser irrevocable instructions (the Instructions) directing Escrow Agent to transfer to Purchaser one or more certificates representing the Special Purchase Shares to be purchased on the Special Closing Date. Upon receipt of the Instructions from Purchaser, Escrow Agent agrees to release the Special Purchase Shares from escrow as soon as practicable after the Special Closing Date, and in accordance therewith, the parties agree to use best efforts to coordinate with the Company’s transfer agent following the Special Closing Date in order to (i) deliver a certificate representing the Special Purchase Shares to Purchaser, and (ii) deposit with the Escrow Agent a certificate representing the Final Shares (hereinafter called the Remaining Escrowed Shares) together with an amended Stock Power executed by Seller in blank with respect to the Remaining Escrowed Shares. Escrow Agent shall return the original Stock Power to Seller.

 

7


(b) Upon Purchaser’s payment of the Final Closing Purchase Price pursuant to the terms of the Amended Purchase Agreement, and upon satisfaction (or waiver by Seller) of the closing conditions to Seller’s obligation contained in Section 7.2 of the Purchase Agreement, Seller shall give notice to Escrow Agent directing Escrow Agent to transfer to Purchaser one or more certificates representing the Remaining Escrowed Shares purchased at the Final Closing in accordance with the Amended Purchase Agreement. Upon the receipt of such notice, Escrow Agent shall deliver the Stock Powers endorsed to Purchaser together with one or more certificates representing the Remaining Escrowed Shares.

 

(c) In the event that (a) Purchaser does not timely satisfy the conditions contained in Section 7.2 of the Purchase Agreement or (b) the Amended Purchase Agreement is otherwise terminated pursuant to Section 5 of the Amended Purchase Agreement, then upon notice to such effect from Seller, Escrow Agent shall return the certificates representing the Remaining Escrowed Shares and the Stock Powers to Seller, and the Escrow Agreement and this Escrow Amendment shall terminate. In such event, neither Purchaser nor Seller shall have any claim against the other arising out of the Escrow Agreement and this Escrow Amendment.

 

2. NOTICES

Section 5 of the Escrow Agreement is hereby amended for notices to Seller as follows:

If to Seller:

KPN Telecom B.V.

Maanplein 55

2516 CK The Hague

The Netherlands

Fax: +31 70 4464302 / +31 70 4460675

Attn: Messrs. Cees Boogaerdt and Michiel Roovers

 

3. TERMINATION

In the event that (a) Purchaser does not timely satisfy the conditions contained in Section 7.2 of the Purchase Agreement or (b) the Purchase Agreement is otherwise terminated pursuant to Section 5 of the Amended Purchase Agreement, then upon notice to such effect from Seller, Escrow Agent shall return the certificates representing the Remaining Escrowed Shares and the amended Stock Powers to Seller, and the Escrow Agreement and this Escrow Agreement shall terminate. In such event, neither Purchaser nor Seller shall have any claim against the other arising out of the Escrow Agreement or this Escrow Amendment.

 

4. GENERAL

Except as amended hereby, the Escrow Agreement continues to be, and shall remain, in full force and effect in accordance with its terms. The miscellaneous provisions set forth in Section 7 of the Escrow Agreement are incorporated herein by reference and deemed made a part hereof, mutatis mutandis.

 

8


IN WITNESS WHEREOF, the parties hereto have duly executed this Escrow Amendment as of the date and year first above written.

 

CORCYRA d.o.o.
By:  

/s/ SHALOM ATIA

Name:   Shalom Atia
Title:   Sole Officer, Director
KPN TELECOM B.V.
By:   KONINKLIJKE KPN N.V., its sole Director
  By:  

/s/ MICHIEL ROOVERS

  Name:   M. G.Roovers
  Title:   Legal Counsel
JPMORGAN CHASE BANK, N.A.
By:  

/s/ ROLA TSENG

Name:   Rola Tseng
Title:   Vice President

 

9

EX-3.1 3 dex31.htm KPN TELECOM B.V. POWER OF ATTORNEY DATED APRIL 27, 2006 KPN Telecom B.V. Power of Attorney dated April 27, 2006

Exhibit 3.1

POWER OF ATTORNEY

THE UNDERSIGNED:

KPN Telecom B.V., a private company with limited liability, having its seat at The Hague, the Netherlands and maintaining its principal place of business at Maanplein 55, 2516 CK The Hague, the Netherlands, in this respect represented by its solely authorized managing director, Royal KPN N.V., in this respect duly represented by Mr. M. H. M. Smits, member of the Board of Management,

DECLARES TO GIVE POWER OF ATTORNEY TO EACH:

 

  Mr. C.J. Boogaerdt, Deputy Treasurer of Royal KPN N.V.; and

 

  Mr. M.G. Roovers, Divisional Legal Officer Corporate of Royal KPN N.V.,

ON BEHALF OF THE UNDERSIGNED:

to sign Amendment No. 1 dated on or about the date hereof to the Stock Purchase Agreement dated as of January 28, 2005 between KPN Telecom B.V. and CORCYRA d.o.o., Amendment no. 1 to the Escrow Agreement between KPN Telecom B.V. and CORCYRA d.o.o. and JPMorgan Chase Bank N.A. and each other agreement, document and certificate to be delivered in connection therewith and all other documents relating thereto, and furthermore to do anything which the attorney deems necessary in connection with the aforementioned agreements.

The validity of this power of attorney expires on December 15, 2006.

Signed at The Hague on April 27, 2006

 

/s/ M. H. M. SMITS
M. H. M. Smits
EX-3.2 4 dex32.htm KONINKLIJKE KPN N.V. EVIDENCE OF AUTHORIZED SIGNATORY Koninklijke KPN N.V. evidence of authorized signatory

Exhibit 3.2

LOGO

File number: 02045200

English translation of an extract from the trade register of the Chamber of Commerce and Industries for Haaglanden

 

Legal person:   
Legal form    : Naamloze Vennootschap (Public Limited
     Liability Company; ‘Structure’ company
     according to articles)
Name    : Koninklijke KPN N.V.
Statutory seat    : ‘s-Gravenhage
First registration in the trade register    : 30-12-1988
Incorporation deed    : 01-01-1989
Deed of latest amendment of articles    : 21-04-2005

REDACTED

 

   

Authorized signatory (signatories):

REDACTED


LOGO

 

Name    : Roovers, Michael Gerardus
Function and entry into office    : Holder of power of attorney for signature,
     01-03-2001
Title    : Senior bedrijfsjurist
Powers    : Restricted power of attorney

REDACTED

Issued by the chamber of commerce

 

‘s-Grevenhage, 09-03-2006
For extract
/s/ R.VAN STEVENINCK
R. Van Steveninck
Directeur Wetsuitvoering
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-----END PRIVACY-ENHANCED MESSAGE-----