Internet Corporation for
Assigned Names & Numbers
4676 Admiralty Way, Suite 330
Marina Del Rey
California
90292
U.S.A.
Dear Sirs
.co-op
TLD Application by The Cooperative League of the USA d/b/a National Cooperative
Business Association and Poptel Limited
Registry
Operator’s Proposal – Section D13.4.4 Proof of Capital
We refer to the application by our client
Poptel Limited for whom we have acted for over ten years. We set out the information below regarding
the share capital of Poptel Limited and its additional capital facilities,
which to the best of our knowledge is true and accurate at today’s date.
1.
Poptel Limited is a private company
limited by shares, company number 3867789, incorporated on 28th
October 1999. It was established to
acquire the whole of the business and undertaking of Soft Solution Limited,
which was incorporated as a private company on 27th August 1985,
company number 1942215.
2.
Poptel Limited entered into a
subscription and shareholders’ agreement dated 18th November 1999
between the following parties :
1.
Soft Solution Limited
2.
Poptel Limited
3.
Poptel Worldwide Limited
4.
SUM International Holdings Limited
5. Trustees of the SSL Employee Benefit Trust
(“the First Subscription and Shareholders
Agreement”).
3.
The issued share capital of Poptel
Limited, following the First Subscription and Shareholders Agreement, was 75
fully paid ‘A’ Ordinary Shares of £1.00 each, all of which are held by Soft
Solution Limited, and 25 fully paid ‘B’ Ordinary Shares of £1.00 each, on which
a premium of £60,000 per share was paid, all of which are held by Poptel
Worldwide Limited, amounting to an initial investment of £1,500,000.
4.
Poptel Worldwide Limited is a private
company limited by shares incorporated on 12th November 1999,
company number 3876113. It is a 95%
subsidiary of SUM International Holdings Limited.
5.
A Subscription and Supplemental
Agreement, was entered into on 19th September 2000, between the same
parties as to the First Subscription and Shareholders Agreement. Pursuant to this agreement, Poptel Worldwide
Limited will subscribe in cash for up to £500,000 of loan stock issued by
Poptel Limited. SUM International
Holdings Limited has agreed, pursuant to the Subscription and Supplemental
Agreement, to procure a guaranteed overdraft facility for Poptel Limited for an
amount of up to £500,000, making a total subsequent investment of £1,000,000.
Yours faithfully
Malcolm Lynch
WRIGLEYS