Private Agreements Australia
| No. | Questions | Answer |
| 1 | What are the pros of entering into the Private Settlement Agreement? | By entering into the Private Settlement Agreement, you will be excluded from participating in the scheme of arrangement process. You therefore do not need to monitor the Court proceedings in Singapore and do not need to take any action to vote or otherwise participate in the scheme of arrangement proceedings. However, even if you wish to enter into the Private Settlement Agreement, if you wish to vote in favour of the scheme of arrangement to show your support, you can indicate to the Company that you wish to do so and the Company will ensure that you are included in the scheme exercise. |
| 2 | What are the cons of entering into the Private Settlement Agreement? | By entering into the Private Settlement Agreement, you will not be voting in the scheme proceedings unless you specifically choose to do so and follow the instructions on how to do so; if this is done, the Zipmex Group will ensure that your votes will be counted in the scheme of arrangement. |
| 3 | Do people who vote in the scheme receive any advantage over those who enter into the Private Settlement Agreement? | No. The terms of the scheme will include the terms contained in the Private Settlement Agreements. |
| 4 | Do I have to sign this private agreement? What will happen if I do not sign? | It is not mandatory or required to sign this private agreement. If you do not sign this, you may be asked to participate in the vote for the scheme. Not signing does not affect your rights as a creditor to claim what is owed to you under your legal rights as a creditor. You will still be required to sign an agreement with Zipmex at some stage in order to access your funds regardless. Doing so now will help to faciliate with the scheme of arrangement process. |
| 5 | If I enter into the Private Settlement Agreement, will I receive my assets faster? | No. Access to all assets will be granted globally on the same day following the approval of the schemes of arrangement by the Singapore Court (if such approval is granted) and the closing of any investment deal. |
| 6 | Will there be different treatment applied to differnet customers? i.e. those who sign the private agreements and those who don’t? Or high net worth vs smaller creditors? | Because the terms of the Private Settlement Agreement are substantially the same of the terms of the scheme of arrangement, no Customer Creditor will have different terms of settlement, whether they enter into Private Settlement Agreement(s) or vote in the scheme. |
| 7 | If the private settlement is signed but I still do not receive my funds back, what will happen? What can I do? | If the private settlement is signed and it become clears that the user will not get access to Z Wallet funds, the agreement will be lapsed and the terms agreed will no longer be applicable. |
| 8 | Do I have to participate in the scheme of arrangement if I already signed the private agreements? | Not all creditors are required to participate in the scheme and submit your claim. You will still have equal rights to access your funds when the scheme is approved and the investment deal is closed. If you are classified as an “Administrative Convenience Class” OR you have signed the private agreement earlier, you are automatically excluded from the scheme and no further action is required. However, should you still wish to participate in the scheme, please follow the instructions sent to you via your registered email and note the last date/time to submit the form is 21 February 2023, 16.00 (GMT+8 – Singapore time) We should stress that if you do choose to participate in the Scheme process, you should read the attached Scheme of Arrangement carefully and consider the consequences of voting either “for”, “abstain”, or “against” the Scheme. It is also a possibility that should many of the members of the Administrative Convenience Class participate in the Scheme process, the overall process (and the timing of when Customer Creditors may withdraw their assets from the Z Wallet) may be inevitably delayed. |