An agreement between a prospective purchaser to the seller indicating the terms upon which they have agreed in principle to the purchaser's acquisition from the seller of its shares in a private limited company in Hong Kong. Agreement is drafted in letter form on the following assumptions, that: the draftsperson is acting for the purchaser; there is a single seller and single purchaser; and a confidentiality agreement and/or exclusivity agreement may or may not have already been entered into.