EXHIBIT 10.01
EUROPA IT APS
March 17, 2000
RE: STRATEGIC PLAN FOR THE CREDITORS OF
CHS ELECTRONICS, INC. ("CHS")
Dear Creditor:
This letter agreement (the "Letter Agreement"), dated as of the date
first written above, by and between CHS Electronics, Inc., a Florida corporation
("CHS"), you (referred herein as the "Holder"), and Europa IT ApS, a Danish
corporation (the "Company"), is entered into in connection with a proposed
transaction to be consummated as part of a bankruptcy plan involving (i) the
9.875% Senior Notes due 2005 of CHS (the "Notes"), (ii) the Floating Rate
Convertible Debentures due 2003 of CHS (the "Debentures") and (iii) other
general unsecured claims against CHS ("Claims" and, together with the Notes and
the Debentures, the "CHS Liabilities").
CHS is in the process of implementing a strategic plan (the "Strategic
Plan") pursuant to a voluntary bankruptcy proceeding (the "Bankruptcy Case")
under Chapter 11 of the United States Bankruptcy Code, 11 U.S.C. ss.ss.101 ET
SEQ. (the "Bankruptcy Code") to be filed in the U.S. Bankruptcy Court for the
District of Delaware or the Southern District of Florida. The terms and
conditions of the Strategic Plan are set forth in the Summary of Proposed
Strategic Plan (the "Summary of Terms") attached as EXHIBIT A. The Strategic
Plan contemplates and will be embodied in a plan of reorganization (the
"Reorganization Plan") in the Bankruptcy Case which, if confirmed, will allow
creditors of CHS to receive a package of equity and/or debt securities of the
Company, in exchange for the sale by CHS to the Company of the capital stock of
CHS' European Subsidiaries and certain other assets free and clear of all liens,
claims, encumbrances and interests. The Reorganization Plan must be consistent
with the terms set forth in Exhibit A and acceptable to the Company and Holders
in all material respects.
THE COMPANY'S WILLINGNESS AND OBLIGATION TO PROCEED WITH THE
TRANSACTION ARE CONTINGENT UPON (I) RECEIVING SIGNED LETTER AGREEMENTS FROM IBM
AND SEAGATE WITH RESPECT TO ALL OF THEIR CLAIMS AGAINST CHS, RECEIVING SIGNED
LETTER AGREEMENTS FROM HOLDERS THAT HOLD AT LEAST 66 2/3% IN AMOUNT AND MORE
THAN 50% IN NUMBER OF ALL CLAIMS REPRESENTED BY THE NOTES, AND RECEIVING SIGNED
LETTER AGREEMENTS FROM HOLDERS THAT HOLD AT LEAST 66 2/3% IN AMOUNT AND MORE
THAN 50% IN NUMBER OF ALL CLAIMS REPRESENTED BY THE DEBENTURES (THE "REQUIRED
HOLDERS") BY THE CLOSE OF BUSINESS ON MARCH 24, 2000; (II) THE COMMENCEMENT OF A
VOLUNTARY BANKRUPTCY CASE BY CHS NOT LATER THAN 31ST MARCH 2000; AND (III) THE
ENTRY OF A FINAL, NON-APPEALABLE, ORDER CONFIRMING THE REORGANIZATION PLAN ON OR
BEFORE AUGUST 21, 2000 THAT IS ACCEPTABLE TO THE COMPANY IN ALL RESPECTS. Based
upon and subject to the foregoing, the parties agree as follows:
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1. COMMENCEMENT OF BANKRUPTCY CASE. As soon as practicable following
receipt of signed Letter Agreements from the Required Holders and approval of
the terms of the proposed Strategic Plan by the Company's Board of Directors,
but in any event not later than 31st March 2000, CHS shall commence the
Bankruptcy Case by filing a voluntary petition under Chapter 11 of the
Bankruptcy Code with the United States Bankruptcy Court for the District of
Delaware or the Southern District of Florida. CHS will file the Reorganization
Plan with the Bankruptcy Court on the same day that it files its bankruptcy
petition, and related Disclosure Statement within a reasonable time thereafter,
and will seek confirmation of the Reorganization Plan on an expedited basis.
2. REPRESENTATIONS AND AGREEMENTS OF HOLDERS. The Holder agrees that it
will vote in favor of and fully support the Reorganization Plan provided that
(i) the terms of the Reorganization Plan and all related documents are
consistent in all material respects with, or more favorable to the Holder than,
the terms set forth in Exhibit A; (ii) the Bankruptcy Case is filed by 31st
March 2000, and (iii) the Reorganization Plan is confirmed by the Bankruptcy
Court not later than 21 August 2000. Notwithstanding any other provision of this
Agreement, the Reorganization Plan will provide that if the order confirming the
Reorganization Plan is not substantially consistent with the Reorganization Plan
and EXHIBIT A hereto, it shall be a condition to confirmation that the order be
satisfactory to Holder and the Company and that any amendment to the
Reorganization Plan or waiver of conditions to confirmation and effectiveness
shall require the consent of Holder and the Company. The Holder agrees that
until the termination of this Letter Agreement, the Holder will not sell or
transfer any or all of such Holder's Notes, Debentures, or Claims unless the
transferee (the "Transferee") of such Notes, Debentures or Claims agrees to be
bound by the terms of this Letter Agreement prior to such transfer. The Holder
agrees that, so long as it receives notice not later than 24 March 2000 that the
Company has received signed Letter Agreements from the Required Holders, it will
forbear from instituting or participating in any action with respect to the
Notes, the Debenture and the Claims against CHS, CHS affiliates being sold
pursuant to the Strategic Plan or CHS affiliates that are participating in the
sale pursuant to the Strategic Plan, including but not limited to filing any
involuntary bankruptcy petition (or other insolvency proceeding) against CHS
until after 31st March 2000. Except as provided herein, Holder retains any and
all rights and remedies against CHS and IBM and Seagate retain any and all
rights and remedies with respect to CHS affiliates in foreign insolvency
proceedings. The Holder further represents and warrants to the Company that:
(a) as of the date hereof, Holder is the beneficial owner of,
or holder of investment authority over, the Notes or Debentures set
forth opposite such Holders name on the signature page hereof, or is
the Holder of Claims in the amount set forth opposite Holders' name on
the signature page hereof and that, to its knowledge, its claims are
undisputed, fixed, and liquidated, except with respect to accrued
interest, provided, however, Seagate and IBM may estimate their
respective Claims, including estimating the Claims within a range, if
such Claims are conditional or unliquidated; and
(b) the Holder has received and reviewed this Agreement and
all schedules and exhibits hereto, and, assuming the representations
and warranties of the Company and CHS are true and correct, has
received all such information as it deems necessary and
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appropriate to enable it to evaluate the financial risk inherent in the
transaction.
In addition to the other conditions to Holder's obligations set forth
herein, each obligation and liability of Holder under this Agreement is
conditioned in its entirety upon (a) the truth of the representations and
warranties of the Company and CHS set forth herein and performance by the
Company and CHS of its agreements and covenants herein contained, (b) the terms
and conditions of the treatment of the Notes, Debentures, and Claims under the
Strategic Plan not differing from those set forth herein in any manner adverse
to Holder, (c) the Strategic Plan containing no material conditions adversely
affecting Holder other than those described in this Agreement, (d) this
Agreement not having been terminated pursuant to Section 6 hereof, (e) the
Strategic Plan being consistent in all material respects with, or more favorable
to the Holder than, the terms and provisions of this Agreement.
3. REPRESENTATIONS AND WARRANTIES OF THE COMPANY. The Company hereby
represents and warrants to CHS and each Holder as follows: (a) The Company is a
corporation duly organized and existing under the laws of Denmark; (b) the
Company has the power and authority to execute and deliver this Agreement and to
perform its obligations hereunder; (c) the execution and delivery of this
Agreement and the performance by the Company of its obligations hereunder have
been authorized by all necessary corporate action; (d) this Agreement has been
duly executed by the Company and constitutes the valid and binding obligation of
the Company, enforceable against the Company in accordance with its terms.
4. REPRESENTATIONS AND WARRANTIES OF CHS. CHS hereby represents and
warrants to the Company and each Holder as follows: (a) CHS is a corporation
duly organized and existing under the laws of Florida; (b) CHS has the power and
authority to execute and deliver this Agreement and to perform its obligations
hereunder; (c) the execution and delivery of this Agreement and the performance
by CHS of its obligations hereunder have been authorized by all necessary
corporate action; (d) this Agreement has been duly executed by CHS and
constitutes the valid and binding obligation of CHS, enforceable against CHS in
accordance with its terms; and (e) information provided by CHS or its
representatives to the Company and the Holder, including all information filed
or made available in CHS' most recent Form 10-Q and 10-K filings, did not
contain an untrue statement of material fact, or omit to state a material fact
necessary in order to make the statements therein, in light of the circumstances
in which they were made, not misleading.
5. DISCLOSURE. The parties to this Letter Agreement authorize and
direct the Company and CHS to disclose in the Reorganization Plan and in the
Bankruptcy Case the existence and terms of this Letter Agreement.
6. TERMINATION. This Letter Agreement shall automatically terminate
upon the earlier of (i) the date of notice from the Company that it has failed
to receive the signed Letter Agreements from the Required Holders (ii) March 24,
2000, unless the Company notifies the Holder in writing on or prior to such date
that the Company has received signed Letter Agreements from the Required Holders
and included copies of such Letter Agreements (iii) April 1, 2000, if CHS has
not filed the Bankruptcy Case as contemplated herein and (iv) August 21, 2000,
if the Bankruptcy Court has not confirmed the Reorganization Plan consistent
with the
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terms set forth in Exhibit A in all respects.
7. NOT AN AMENDMENT OR WAIVER. It is acknowledged and agreed that
(except as expressly provided for herein, including without limitation in the
exhibits hereto) entering into this Agreement, negotiating with respect to the
Notes, the Debentures, the Claims or the Strategic Plan or any other action
taken by Holder does not constitute full or partial amendment or waiver of any
of such Holder's rights and remedies under the Notes or the Debentures or at law
or otherwise, and Holder hereby reserves such rights and remedies.
8. ADDITIONAL NOTES AND DEBENTURES. Nothing in this Agreement shall be
deemed to limit or restrict the ability or right of Holder to acquire any
additional Notes or Debentures (the "Additional Securities") or other claims
against CHS or any affiliate of CHS; provided, however, that in the event Holder
acquires any such Additional Securities after the date hereof (other than any
such Notes or Debentures that are already subject to the provisions of an
agreement with CHS substantially similar to this Agreement, which Notes and
Debentures shall remain subject to the provisions of such agreement), such
Additional Securities or Claims shall immediately upon such acquisition become
subject to the terms of this Agreement.
9. GOVERNING LAW. THIS LETTER AGREEMENT SHALL BE GOVERNED BY, AND
CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK, REGARDLESS OF
THE LAWS THAT MIGHT OTHERWISE GOVERN UNDER APPLICABLE PRINCIPLES OF CONFLICTS OF
LAWS THEREOF.
10. ENFORCEMENT AND VENUE. IRREPARABLE DAMAGES WOULD OCCUR IN THE EVENT
THAT ANY OF THE PROVISIONS OF THIS LETTER AGREEMENT WERE NOT PERFORMED IN
ACCORDANCE WITH THEIR SPECIFIC TERMS OR WERE OTHERWISE BREACHED. ACCORDINGLY,
THE PARTIES SHALL BE ENTITLED TO AN INJUNCTION OR INJUNCTIONS TO BREACHES OF
THIS LETTER AGREEMENT AND TO ENFORCE SPECIFICALLY THE TERMS AND PROVISIONS OF
THIS LETTER AGREEMENT IN THE FEDERAL COURT OF THE UNITED STATES LOCATED IN THE
STATES OF DELAWARE OR FLORIDA, THIS BEING IN ADDITION TO ANY OTHER REMEDY TO
WHICH THEY ARE ENTITLED AT LAW OR IN EQUITY. EACH OF THE PARTIES HERETO (I)
SHALL SUBMIT ITSELF TO THE JURISDICTION OF THE FEDERAL COURTS OF THE UNITED
STATES OF AMERICA LOCATED IN THE STATE OF DELAWARE IN THE EVENT ANY DISPUTE
ARISES OUT OF THIS LETTER AGREEMENT OR ANY OF THE TRANSACTIONS CONTEMPLATED
HEREBY, (II) SHALL NOT ATTEMPT TO DENY OR DEFEAT SUCH PERSONAL JURISDICTION BY
MOTION OR OTHER REQUEST FOR LEAVE FROM ANY SUCH COURT, AND (III) SHALL NOT BRING
ANY ACTION RELATING TO THIS LETTER AGREEMENT OR ANY OF THE TRANSACTIONS
CONTEMPLATED HEREBY IN ANY COURT OTHER THAN THE FEDERAL COURTS OF THE UNITED
STATES OF AMERICA LOCATED IN THE STATES OF DELAWARE OR FLORIDA.
CHS and the Company agree that all of their respective agreements and
obligations in connection with the Reorganization Plan (including the securities
to be issued pursuant thereto) shall include governing law, submission to
jurisdiction and venue provisions on the same terms as this Agreement.
11. PAYMENT OF PROFESSIONAL FEES AND DUE DILIGENCE EXPENSES.
Simultaneously with
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the delivery of this Letter Agreement, CHS agrees to pay (i) a retainer of
$100,000 to counsel to the Noteholders Committee, Cadwalader, ▇▇▇▇▇▇▇▇▇▇ & ▇▇▇▇
and (ii) the sum of $125,000 to the Company, as compensation for due diligence
and related fees and expenses incurred by the Company in the preparation of the
Proposed Strategic Plan and related matters. In addition, CHS further agrees to
pay all reasonable fees and expenses of the Holder and the Company in connection
with this Letter Agreement and the Bankruptcy Case. The foregoing agreement to
pay reasonable fees and expenses of the Holder shall be included in the
Reorganization Plan.
12. NO WAIVER. It is acknowledged and agreed that entering into this
Agreement. negotiating with respect to the Notes, the Debentures, and the
Claims, the Strategic Plan or the Reorganization Plan or any other action taken
by Holder does not constitute a full or partial amendment or waiver of any of
Holder's rights or remedies against CHS, and Holder hereby reserves all such
rights and remedies against CHS.
13. FURTHER ASSURANCES. Holder shall execute and deliver such other
documents and instruments and take such further actions as may be necessary or
appropriate or as may be reasonably requested by CHS or the Company in
connection with the Strategic Plan and the Reorganization Plan, and will not
take any action to interfere with the Strategic Plan or the Reorganization Plan.
14. COUNTERPARTS. This Letter Agreement may be executed in one or more
counterparts, via telefax, each of which shall be deemed an original but all of
which together will constitute one and the same instrument.
15. NO WAIVER. Except as expressly provided in this Letter Agreement,
the Holders are not waiving any defaults or other rights, and reserve all rights
and remedies they may have against CHS.
16. SUCCESSORS AND ASSIGNS. This Letter Agreement shall be binding upon
each party hereto, their successors and assigns.
* * * * * * * *
If the foregoing accurately reflects our understanding, please indicate
your acceptance by signing a copy of this letter and returning it to the
undersigned.
CHS ELECTRONICS, INC.
By: _______________________________________
Name:
Title:
ACCEPTED AND AGREED TO:
Print Name: ___________________
By: _________________________ Principal Amount of CHS Liability:__________
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Name:
Title:
Address for Notices:
____________________________________________
____________________________________________
____________________________________________
ACCEPTED AND AGREED TO:
EUROPA IT APS
By: _______________________________________
Name: ▇▇▇▇ ▇▇▇▇▇▇
Title: Director
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EXHIBIT A
SUMMARY OF PROPOSED STRATEGIC PLAN AND REORGANIZATION PLAN
I. ISSUER: Europa IT ApS (the "Company")
II. EXCHANGE
PARTICIPANTS: (i) the 9.875% Senior Notes due 2005 of CHS (the
"Notes"), (ii) the Floating Rate Convertible
Debentures due 2003 of CHS (the "Debentures") and
(iii) the general unsecured claims against CHS
("Claims" and, together with the Notes and the
Debentures, the "CHS Liabilities").
III. EXCHANGE TERMS
Transaction Under the Reorganization Plan, the Company will issue
to CHS a package of securities in exchange for the
assets listed on Exhibit B, which include (a) the
shares of the European Subsidiaries and (b) certain
rights with respect to earn-out agreements and
certain other assets of CHS, all of which are set
forth on Exhibit B hereto (collectively, the
"Exchange Assets"). The package of securities that
the Company will issue to CHS will include: (i) 5% of
the fully diluted common stock of the Company, (ii)
30 Month Notes and Redeemable Convertible Preferred
Stock, and (iii) 15% of the fully diluted common
stock of the Company. The Reorganization Plan will
provide that (i) will be retained by Reorganized CHS.
The Reorganization Plan will also provide that (ii),
(iii), and 25% of the fully diluted common stock of
Reorganized CHS will be distributed by CHS in the
manner described below to all holders of allowed
claims against CHS including but not limited to those
holders of allowed claims that have signed the Letter
Agreements.
The Exchange Assets will be transferred to the
Company free and clear of all liens, claims,
encumbrances and interests. The Reorganization Plan
will also provide for an injunction prohibiting
anyone from asserting any claims or other rights
against the Company that relate to CHS other than
claims relating to the equity or debt securities to
be delivered by the Company to CHS pursuant to the
Reorganization Plan.
THE TERMS OF THE REORGANIZATION PLAN ASSUME THAT
ALLOWED GENERAL UNSECURED CLAIMS AGAINST CHS
(INCLUDING BUT NOT LIMITED TO CLAIMS RELATING TO THE
NOTES, THE DEBENTURES, AND THE CLAIMS) WILL NOT
EXCEED $500 MILLION, AND NEITHER THE COMPANY NOR THE
HOLDER SHALL BE OBLIGATED TO PROCEED WITH THE
PROPOSED TRANSACTION IF SUCH CLAIMS EXCEED SUCH
AMOUNT.
Consideration: Under the Plan, Holders of claims against CHS will be
asked to
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choose their share of either the equity or debt
securities paid to CHS by the Company. Holders may
make more than one election by subdividing their
claims. All creditors will participate pro-rata in
the distribution of 25% of the equity securities of
Reorganized CHS. If either the debt securities or the
equity securities paid to CHS by the Company are
over-subscribed, the over-subscribed portion will be
allocated under-subscribed securities on a PRO RATA
basis. The terms of the equity and debt securities
that CHS will distribute to holders of allowed claims
against CHS are set forth below.
DEBT PACKAGE
30 Month Notes Distribution by CHS: $7.50 per $100 claim
Issue Size $22.5 million
Interest Rate: 10% p.a.,
Maturity: 30 months
Principal Repayments: 5 equal installments on
each 6
month anniversary of issue
date
Registration Rights: Demand rights after 18
months
Callable: at any time at par plus
accrued
interest
EQUITY PACKAGE
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Redeemable Convertible Distribution by CHS: $22.50 per $100 claim
Preferred Stock Issue Size: $45 million
Dividend Rate: 10% if paid in cash;
alternatively, at the option of
the Company, payable in kind
at 12% for first two years,
13% in year 3, and 14% in
year 4
Conversion Date: Fourth anniversary
Redeemable: Anytime at par plus accrued
interest
Registration Rights: Demand rights after 18
months
Conversion Rate: Each $1.0 million of preferred
is convertible into 1% of
Europa IT Common Stock
(I.E., convertible to 45% of
equity)
Common Stock 15% of the fully diluted equity
capital of Europa IT as of the
closing date
ACCRUED INTEREST: An interest on all Claims shall fully accrue through
the date the Bankruptcy Case is filed, but shall
cease to accrue after the filing date. No accrued and
unpaid interest on the Notes or Debentures shall be
paid by the Company but shall be included in allowed
claims to the effective date of the Reorganization
Plan.
IV. COUNSEL TO
NOTEHOLDERS
COMMITTEE:
▇▇▇▇▇ ▇.▇. ▇▇▇▇▇▇▇
▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
▇▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇ & ▇▇▇▇
▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇
▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇
Ph: ▇▇▇-▇▇▇-▇▇▇▇
Fax: ▇▇▇-▇▇▇-▇▇▇▇
VI. COUNSEL TO
THE COMPANY: ▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇
▇▇▇▇▇▇ & ▇▇▇▇▇▇ ▇▇▇▇▇▇ & ▇▇▇▇▇▇
Bank One Plaza ▇ ▇▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇
▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇
Ph: ▇▇▇-▇▇▇-▇▇▇▇ ENGLAND
Fax: ▇▇▇-▇▇▇-▇▇▇▇ Ph: ▇▇-▇▇-▇▇▇▇-▇▇▇▇
9
Fax: ▇▇-▇▇-▇▇▇▇-▇▇▇▇
▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇
Sidley & Austin
▇▇▇ ▇. ▇▇▇▇▇ ▇▇▇▇▇▇
▇▇▇ ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇
Ph: 213.896-6000
Fax: 213.896-6600
VII. COUNSEL TO CHS: ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇, P.A.
▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ & ▇▇▇▇▇,
L.L.P.
▇▇▇ ▇. ▇▇▇▇▇▇▇▇ ▇▇▇▇.
Suite 2600 Miami, FL 33131 Tel.:
▇▇▇-▇▇▇-▇▇▇▇ Fax: ▇▇▇-▇▇▇-▇▇▇▇
VIII. COUNSEL TO IBM: ▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇, Esq.
▇▇▇▇▇ Day
▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇
▇▇▇ ▇▇▇▇, ▇▇ ▇▇▇▇▇
Tel.: ▇▇▇-▇▇▇-▇▇▇▇
Fax: ▇▇▇-▇▇▇-▇▇▇▇
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EXHIBIT B
1. CAPITAL STOCK OF SUBSIDIARIES TO BE INCLUDED IN EUROPAIT TRANSACTION
COMMON NAME LEGAL NAME
CHS Baltic CHS Baltic
CHS Croatia CHS Elektronika d.o.o.
CHS Denmark CHS Electonics A/S Denmark
CHS Estonia CHS Eesti AS
CHS France CHS France S.A.
CHS Hungary CHS Hungary Kft
CHS ▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇ Norway ASA
CHS Metrologie Metrologie SA
France
CHS Metrologie Metrologie Slovakia
Slovakia
CHS Metrologie Metrologie Systeme GmbH
Germany
CHS Portugal CHS Next D.S.
CHS Poland ABC Data Z.o.o.
CHS Riga CHS Riga
CHS Romak Romak Computers Ltd.
CHS Russia Computer Hardware and
Software
CHS SMG Santech Micro Group Norway
Norway ASA
CHS SMG Sweden Santech Micro Group Sweden
AB
CHS TH Systems TH'system a.s.
Czech
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RIGHTS OF CHS TO BE INCLUDED IN THE TRANSACTION (RELATED TO OWNERSHIP DISPUTES
OR EARN-OUT AGREEMENTS)
COMMON NAME LEGAL NAME
Karma Austria Karma Computerhandles A.G.
Karma Belgium Karma Belgium
Karma Czech Karma Czech a.s.
Karma Germany Karma Computer GmbH
Karma Greece Karma Okrabit S.A.
Karma Italy Karma Italia S.R.L.
Karma Netherlands ▇▇▇▇▇▇▇ N.V.
Verysell Russia CHS-CIS S.A.
CHS Slovenia Atlantis Skupina d.o.o.
Karma Portugal Carre & Ribeiro Informatica
Lda
Karma Singapore Karma Distribution Singapore
Pte. Ltd.
Karma Switzerland Karma Components GmbH
Karma Turkey Karma Donanim Yazilim San.
Ve Tic A.S.
Karma Dubai Karma (M.E.) Dubai
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FURTHER ASSETS TO BE INCLUDED; NO LIABILITIES ASSUMED (TO BE CLARIFIED WITH
CHS)
COMMON NAME LEGAL NAME
CHS Yakumo Yakumo Electronics GmbH
Germany Europe
CPO CHS-CPO GmbH
Karma Hong Kong Karma Asia Pacific Ltd.
A&A Croatia A&A d.o.o.
A&A Czechia A&A Data Storage Services
a.s.
A&A Slovakia A&A Spol s.r.l
CHS Bohemia CHS Bohemia S.R.D.
CHS McDOS NL McDOS B.V.
CHS Merisel Merisel France SNC
France SNC
CHS ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Informatika S.p.A.
Informatika
CHS Yakumo CHS Yakumo Hong Kong
Hong Kong
Karma Denmark Karma Denmark ApS
Karma Finland Karma Finland Oy
Karma France Karma S.A.R.L.
Karma Norway Karma Norway
Karma Poland Karma International Group
Sp.z.o.o.
Karma Russia Karma Russia
Karma Slovakia Karma Slovakia
EDC France EDC France
Metrologie Metrologie International
International
Merisel S.A. Merisel S.A.
Karma Karma International sarl
International sarl.
Karma Karma International GmbH
International
GmbH
Karma Spain Karma Spain
CHS Slovakia CHS Slovakia s.r.o.
Minfinco, Inc Minfinco, Inc
Merisel France Inc. Merisel France Inc
CHS Czechia CHS Czechia s.r.o.
CHS Russia Ltd. CHS Russia Ltd.
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CHS Kventa Kventa Kft
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