0000950109-01-503791.txt : 20011009
0000950109-01-503791.hdr.sgml : 20011009
ACCESSION NUMBER: 0000950109-01-503791
CONFORMED SUBMISSION TYPE: SC 13D/A
PUBLIC DOCUMENT COUNT: 2
FILED AS OF DATE: 20010925
GROUP MEMBERS: CHEUNG KONG (HOLDINGS) LIMITED
GROUP MEMBERS: FORTHCOMING ERA LIMITED
GROUP MEMBERS: POTTON RESOURCES LIMITED
GROUP MEMBERS: PRIME PRO GROUP LIMITED
GROUP MEMBERS: ULTIMATE PIONEER LIMITED
SUBJECT COMPANY:
COMPANY DATA:
COMPANY CONFORMED NAME: PRICELINE COM INC
CENTRAL INDEX KEY: 0001075531
STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER INTEGRATED SYSTEMS DESIGN [7373]
IRS NUMBER: 061528493
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: SC 13D/A
SEC ACT: 1934 Act
SEC FILE NUMBER: 005-56083
FILM NUMBER: 1744335
BUSINESS ADDRESS:
STREET 1: 800 CONNECTICUT AVE
CITY: NORWALK
STATE: CT
ZIP: 06854
BUSINESS PHONE: 2037053000
FILED BY:
COMPANY DATA:
COMPANY CONFORMED NAME: HUTCHISON WHAMPOA LTD /WAV
CENTRAL INDEX KEY: 0000933662
STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000]
STATE OF INCORPORATION: NY
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: SC 13D/A
BUSINESS ADDRESS:
STREET 1: HUTCHISON HOUSE 22ND FLOOR
CITY: HONG KONG
STATE: K3
ZIP: 00000
BUSINESS PHONE: 8522128118
MAIL ADDRESS:
STREET 1: 22ND FL HUTCHISON HOUSE
STREET 2: 10 HARCOURT RD
CITY: HONG KONG
STATE: K3
ZIP: 00000
SC 13D/A
1
dsc13da.txt
AMENDMENT NO. 3 TO SCHEDULE 13D
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
AMENDMENT NO. 3 TO
SCHEDULE 13D
Under the Securities Exchange Act of 1934
priceline.com Incorporated
--------------------------
(Name of Issuer)
Common Stock, par value $0.008 per share
----------------------------------------
(Title of Class of Securities)
741503106
---------
(CUSIP Number)
Edith Shih
Hutchison Whampoa Limited
22nd Floor, Hutchison House
10 Harcourt Road
Hong Kong
(852-2128-1188)
----------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
Copies to:
John A. Otoshi
Dewey Ballantine LLP
Suite 701
Edinburgh Tower, The Landmark
15 Queen's Road Central
Hong Kong
(852-2509-7000)
----------
September 19, 2001
(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 which is the subject of this Schedule 13D, and is
filing this schedule because of Rule 13d-1(b)(3) or (4), check the
following box____.
SCHEDULE 13D
CUSIP NO. 741503106
---------
------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
HUTCHISON WHAMPOA LIMITED - Not Applicable
------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
2 (a) [X]
(b) [_]
------------------------------------------------------------------------------
SEC USE ONLY
3
------------------------------------------------------------------------------
SOURCE OF FUNDS
4
WC
------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5
------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Hong Kong
------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF -0-
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 32,083,633
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING -0-
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
32,083,633
------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
32,083,633
------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
12 [_]
------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
14.5%
------------------------------------------------------------------------------
TYPE OF REPORTING PERSON
14
HC, CO
------------------------------------------------------------------------------
SCHEDULE 13D
CUSIP NO. 741503106
---------
------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
FORTHCOMING ERA LIMITED - Not Applicable
------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
2 (a) [X]
(b) [_]
------------------------------------------------------------------------------
SEC USE ONLY
3
------------------------------------------------------------------------------
SOURCE OF FUNDS
4
AF
------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5
------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
British Virgin Islands
------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF -0-
SHARES -----------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 17,546,622
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING -0-
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
17,546,622
------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
17,546,622
------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
12
[_]
------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
7.9%
------------------------------------------------------------------------------
TYPE OF REPORTING PERSON
14
CO
------------------------------------------------------------------------------
SCHEDULE 13D
CUSIP NO. 741503106
---------
------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
ULTIMATE PIONEER LIMITED - Not Applicable
------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
2 (a) [X]
(b) [_]
------------------------------------------------------------------------------
SEC USE ONLY
3
------------------------------------------------------------------------------
SOURCE OF FUNDS
4
AF
------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5
------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
British Virgin Islands
------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF -0-
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 14,537,011
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING -0-
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
14,537,011
------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
14,537,011
------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
12
[_]
------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
6.6%
------------------------------------------------------------------------------
TYPE OF REPORTING PERSON
14
CO
------------------------------------------------------------------------------
SCHEDULE 13D
CUSIP NO. 741503106
----------
------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
CHEUNG KONG (HOLDINGS) LIMITED - Not Applicable
------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
2 (a) [X]
(b) [_]
------------------------------------------------------------------------------
SEC USE ONLY
3
------------------------------------------------------------------------------
SOURCE OF FUNDS
4
WC
------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5
------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Hong Kong
------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF -0-
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 64,167,267 (including shares disclaimed, see 11 below)
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING -0-
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
64,167,267 (including shares disclaimed, see 11 below)
------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
64,167,267 of which Cheung Kong expressly disclaims beneficial ownership
of 32,083,633 shares beneficially owned by Hutchison Whampoa Limited
------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
12
[X]
------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
29.0%
------------------------------------------------------------------------------
TYPE OF REPORTING PERSON
14
HC, CO
------------------------------------------------------------------------------
SCHEDULE 13D
CUSIP NO. 741503106
---------
------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
PRIME PRO GROUP LIMITED - Not Applicable
------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
2 (a) [X]
(b) [_]
------------------------------------------------------------------------------
SEC USE ONLY
3
------------------------------------------------------------------------------
SOURCE OF FUNDS
4
AF
------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5
------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
British Virgin Islands
------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF -0-
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 17,546,622
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING -0-
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
17,546,622
------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
17,546,622
------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
12
[_]
------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
7.9%
------------------------------------------------------------------------------
TYPE OF REPORTING PERSON
14
CO
------------------------------------------------------------------------------
SCHEDULE 13D
CUSIP NO. 741503106
----------
------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
POTTON RESOURCES LIMITED - Not Applicable
------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
2 (a) [X]
(b) [_]
------------------------------------------------------------------------------
SEC USE ONLY
3
------------------------------------------------------------------------------
SOURCE OF FUNDS
4
AF
------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5
------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
British Virgin Islands
------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF -0-
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 14,537,012
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING -0-
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
14,537,012
------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
14,537,012
------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
12
[_]
------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
6.6%
------------------------------------------------------------------------------
TYPE OF REPORTING PERSON
14
CO
------------------------------------------------------------------------------
This statement constitutes Amendment No. 3 to the Schedule 13D
originally filed with the Securities and Exchange Commission on February 26,
2001, as amended by Amendment No. 1 on June 11, 2001 and Amendment No. 2 on July
10, 2001 and is filed by Hutchison Whampoa Limited, a Hong Kong company ("HWL");
Forthcoming Era Limited ("FEL"), a British Virgin Islands company and an
indirect wholly-owned subsidiary of HWL; Ultimate Pioneer Limited ("UPL"), a
British Virgin Islands company and an indirect wholly-owned subsidiary of HWL;
Cheung Kong (Holdings) Limited ("Cheung Kong"), a Hong Kong company and a 49.97%
shareholder of HWL; Prime Pro Group Limited ("PPG"), a British Virgin Islands
company and an indirect wholly-owned subsidiary of Cheung Kong; and Potton
Resources Limited ("PRL"), a British Virgin Islands company and an indirect
wholly-owned subsidiary of Cheung Kong. Such Schedule 13D relates to the common
stock, par value $0.008 per share ("Common Stock") of priceline.com
Incorporated, a Delaware corporation (the "Issuer"). Terms defined in the
Schedule 13D previously filed have the same meanings in this Amendment.
Item 3. Source and Amount of Funds or Other Considerations
--------------------------------------------------
Item 3 of the Schedule 13D, as amended, is hereby amended by adding
the following:
The total purchase price of the 2,023,000 shares acquired by UPL from
the open market is US$4,780,665. The funds for UPL's purchases were provided by
HWL from its internal resources.
The total purchase price of the 2,023,000 shares acquired by PRL from
the open market is US$4,780,665. The funds for PRL's purchases were provided by
Cheung Kong from its internal resources.
Item 5. Interest in Securities of the Issuer.
------------------------------------
(a) (b) and (c) of Item 5 of the Schedule 13D, as amended, are hereby
amended and restated in their entirety as follows:
(a) - (b) HWL, through its ownership of FEL and UPL, beneficially owns an
aggregate of 32,083,633 shares of Common Stock, representing approximately 14.5%
of the outstanding Common Stock as of September 17, 2001, and has shared power
over the voting and disposition of such shares.
FEL beneficially owns 17,546,622 shares of Common Stock, representing
approximately 7.9%% of the outstanding Common Stock and has shared power over
the voting and disposition of such shares.
UPL beneficially owns 14,537,011 shares of Common Stock, representing
approximately 6.6% of the outstanding Common Stock, and has shared power over
the voting and disposition of such shares.
1
PPG beneficially owns 17,546,622 shares of Common Stock, representing
approximately 7.9% of the outstanding Common Stock and has shared power over the
voting and disposition of such shares.
PRL beneficially owns 14,537,012 shares of Common Stock, representing
approximately 6.6% of the outstanding Common Stock, and has shared power over
the voting and disposition of such shares.
Cheung Kong, through its ownership of PPG and PRL, beneficially owns
an aggregate of 32,083,634 shares of Common Stock, representing approximately
14.5% of the outstanding Common Stock, and has shared power over the voting and
disposition of such shares. In addition, Cheung Kong, through its ownership of
49.97% of the issued shares of HWL, may be deemed to share voting and
dispositive power over the shares of Common Stock owned by HWL, FEL and UPL.
However, pursuant to Rule 13d-4 under the Exchange Act, Cheung Kong expressly
disclaims beneficial ownership of such shares.
Ian Wade, the designee of FEL to the Issuer's Board of Directors, was
granted options to purchase 40,000 shares of Common Stock, which are not
exercisable within 60 days and therefore not included in the shares reported
above. Dominic Kai Ming Lai, the designee of FEL and UPL to the Issuer's Board
of Directors, and Edmond Tak Chuen Ip, the designee of PPG and PRL, each were
granted options to purchase 20,000 shares of Common Stock, which are not
exercisable within 60 days and therefore not included in the shares reported
above.
Except as described in this Item 5 and Item 6, none of HWL, FEL, UPL,
Cheung Kong, PPG and PRL, nor, to the best knowledge of HWL, FEL, UPL, Cheung
Kong, PPG and PRL, any executive officer or director of HWL, FEL, UPL, Cheung
Kong, PPG or PRL, (i) beneficially owns any securities of the Issuer as of the
date hereof or (ii) has any right as of the date hereof to acquire, directly or
indirectly, any beneficial ownership of other securities of the Issuer.
(c) Each of UPL and PRL acquired a total of 2,023,000 shares of Common Stock
from the open market on September 20, 2001, September 21, 2001 and
September 24, 2001 at an average price of US$2.36 per share.
Item 6. Contracts, Arrangements, Understandings or Relationships With Respect
---------------------------------------------------------------------
to Securities of the Issuer.
---------------------------
Item 6 of the Schedule 13D, as amended, is hereby amended by adding
the following:
PPG, FEL, PRL, UPL and the Issuer entered into an amendment to the
Stockholders' Agreement (the "Amendment No. 1 to Stockholders' Agreement") dated
as of September 19, 2001, pursuant to which the provision in the Stockholders'
Agreement limiting the ability of PPG, FEL, PRL and UPL to acquire or propose to
acquire (or cause their affiliates to acquire or propose to acquire) additional
securities which would result in such entities collectively beneficially owning
more than 32.5% of the outstanding
2
capital stock of the Issuer on a fully diluted basis, has been amended to
increase such percentage to 37.5% upon delivery of written notice of any such
increase duly executed by the Chairman of the Issuer's Board of Directors. The
Amendment No. 1 to Stockholders' Agreement provides that until such time as PPG,
FEL, PRL and UPL receive a notice of an increase to such percentage from the
Chairman of the Issuer's Board of Directors (which has not been received as at
the date hereof), such percentage was only increased from 32.5% to 34.99%.
The description of the Amendment No. 1 to Stockholders' Agreement
contained herein is subject to, and qualified in its entirety by reference to,
the Amendment No. 1 to Stockholders' Agreement, which has been filed as an
exhibit to this Amendment No. 3 to Schedule 13D and is hereby incorporated by
reference in this Item 6.
Item 7. Material to be Filed as Exhibits.
--------------------------------
Item 7 of the Schedule 13D, as amended, is hereby amended by adding
thereto the following Exhibit:
8. Amendment No. 1 to Stockholders' Agreement, dated as of September 19,
2001, by and among priceline.com Incorporated, Prime Pro Group Limited,
Forthcoming Era Limited, Potton Resources Limited and Ultimate Pioneer Limited.
SIGNATURE
---------
After reasonable inquiry and to the best of its knowledge and belief,
each party certifies that the information set forth in this Statement with
respect to it is true, complete and correct.
Date: September 25, 2001
FOR AND ON BEHALF OF
HUTCHISON WHAMPOA LIMITED
By: /s/ Susan Chow
---------------------------------
Name: Susan Chow
Title: Director
FOR AND ON BEHALF OF
FORTHCOMING ERA LIMITED
By: /s/ Susan Chow
--------------------------------
Name: Susan Chow
Title: Director
FOR AND ON BEHALF OF
ULTIMATE PIONEER LIMITED
By: /s/ Susan Chow
--------------------------------
Name: Susan Chow
Title: Director
FOR AND ON BEHALF OF
CHEUNG KONG (HOLDINGS) LIMITED
By:/s/ Ip Tak Chuen, Edmond
--------------------------
Name: Ip Tak Chuen, Edmond
Title: Director
FOR AND ON BEHALF OF
PRIME PRO GROUP LIMITED
By:/s/ Ip Tak Chuen, Edmond
--------------------------
Name: Ip Tak Chuen, Edmond
Title: Director
FOR AND ON BEHALF OF
POTTON RESOURCES LIMITED
By:/s/ Ip Tak Chuen, Edmond
--------------------------
Name: Ip Tak Chuen, Edmond
Title: Director
EXHIBIT INDEX
-------------
Exhibit No. Description
----------- -----------
8. Amendment No. 1 to Stockholders' Agreement, dated as of
September 19, 2001, by and among priceline.com Incorporated,
Prime Pro Group Limited, Forthcoming Era Limited, Potton
Resources Limited and Ultimate Pioneer Limited.
EX-8
3
dex8.txt
AMENDMENT NO. 1 TO STOCKHOLDERS AGREEMENT
AMENDMENT NO. 1 TO STOCKHOLDERS' AGREEMENT
This AMENDMENT NO. 1 TO STOCKHOLDERS' AGREEMENT (this "Amendment") is made
---------
as of September 19, 2001, by and among priceline.com Incorporated, a Delaware
corporation (the "Company"), Prime Pro Group Limited, a British Virgin Islands
-------
corporation ("PPG") and wholly owned subsidiary of Cheung Kong (Holdings)
---
Limited, a Hong Kong corporation ("CK"), Forthcoming Era Limited, a British
--
Virgin Islands corporation ("FEL") and wholly owned subsidiary of Hutchison
---
Whampoa Limited, a Hong Kong corporation ("HW"), Potton Resources Limited, a
--
British Virgin Islands corporation ("PRL") and wholly owned subsidiary of CK,
---
and Ultimate Pioneer Limited, a British Virgin Islands corporation ("UPL") and
---
wholly owned subsidiary of HW (PPG, FEL, PRL and UPL are hereinafter
collectively referred to as the "Purchasers").
----------
WHEREAS, the Company and the Purchasers are parties to a Stockholders'
Agreement dated as June 5, 2001 (the "Stockholders' Agreement"); and
-----------------------
WHEREAS, the Company and the Purchasers wish to make certain amendments to
Section 4(a) of the Stockholders' Agreement.
NOW, THEREFORE, the parties hereto hereby agree as follows:
1. Clause (a) of Section 4 of the Stockholders' Agreement is hereby amended
to read in its entirety as follows:
"(a) acquire, announce an intention to acquire, offer or propose to acquire
or agree to acquire, directly or indirectly, any voting securities of the
Company as a result of which acquisition the Purchasers (and their Affiliates),
collectively, would beneficially own more than 34.99% of the outstanding capital
stock of the Company on a fully diluted basis, other than acquisitions by way of
share dividends or other distributions pro rata to holders of voting securities;
provided, however, that, notwithstanding Section 7(d) hereto, such 34.99% may be
increased to 37.5% by the Company at its sole discretion upon delivery of
written notice of any such increase to the Purchasers, which notice shall be
duly executed and delivered by the Chairman of the Board of the Company;"
2. All terms used but not defined in this Amendment shall have the
respective meanings assigned to such terms in the Stockholders' Agreement.
3. This Amendment and the rights and obligations of the parties hereunder
shall be governed by, and construed in accordance with, the laws of the State of
New York.
IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of
the date first above written.
PRICELINE.COM INCORPORATED
By: _________________________
Name:
Title:
PRIME PRO GROUP LIMITED
By: _________________________
Name:
Title:
FORTHCOMING ERA LIMITED
By: _________________________
Name:
Title:
POTTON RESOURCES LIMITED
By: _________________________
Name:
Title:
ULTIMATE PIONEER LIMITED
By: _________________________
Name:
Title:
2