ADDENDUM TO SHARE PURCHASE AGREEMENT
DATED 27 JUNE 2006
BETWEEN BIWATER PLC AND CASCAL B.V.
THIS ADDENDUM is made on 2 November 2007
The parties to this Addendum are hereinafter collectively referred to as the “ Parties ” and
individually also as a “ Party ”.
1. Biwater Plc a public company with limited liability incorporated under the laws of England &
Wales having its registered office in Dorking , at Biwater House, Station Approach, Surrey,
RH4 1TZ, hereinafter referred to as “ Biwater ”; and
2. Adrian Edwin White, a United Kingdom resident c/o Biwater House, Station Approach,
Surrey, RH4 1TZ, hereinafter referred to as “ White ” and collectively with Biwater as the
3. Cascal B.V., a private company with limited liability incorporated under the laws of the
Netherlands having its offices at Strawinskylaan3105, 1077 ZX Amsterdam, hereinafter
referred to as the “ Purchaser ”.
(1) The Parties entered into a Share Purchase Agreement dated 27 June 2006 (the
“Agreement”) whereby the Purchaser acquired from the Sellers all of the issued shares of
Biwater Supply Limited (the “ Company ”).
(2) On 18 September 2007 the Company changed its name to Cascal Investments Limited.
(3) Any amendment to the Agreement should, in accordance with Clause 15.5 only be made by
mutual agreement in writing.
(4) IFC gave written conditional consent on April 20, 2007 to Aguas de Panama, the Purchaser
and Biwater to; (a) terminate the subcontract between Aguas de Panama and Biwater
International Limited that is referred to in Clause 7.3 of the Agreement; (b) have the
Purchaser replace Biwater as the guarantor as anticipated in Clause 7.1 of the Agreement.
However, IFC gave its conditional consent on the basis of the tariff increase approved with
effect from September 1, 2006 by the client organisation to Aguas de Panama. This tariff
increase has to date not been paid to Aguas de Panama by the client org