Update regarding private agreements
December 29, 2022
Zipmex would like to clarify certain information regarding the private agreements and to notify you of the new deadline. The new deadline for signing the Private Agreements related to gaining access to your Z Wallet funds is 4 January 2023 23:59 (UTC+8).
Zipmex is undergoing its court-supervised restructuring process in Singapore called the ‘Scheme of Arrangement’.
And as part of re-opening the Z Wallet and returning 100% of customers funds, we, Zipmex Pte Ltd. (“Zipmex”), are inviting creditors to enter into a private agreement with Zipmex without compromising any of the creditors’ entitlements in the ‘Scheme of Arrangement’ to follow.
We have amended some of the original terms used in the private agreements sent to you on the 16 December 2022 via email for further clarity and in good faith.
If you have already signed the previous private agreement, we would still encourage you to read the new agreement even if the terms of the revised private agreement are materially similar. If you do not have any queries and your position remains the same, you do not need to take any further action. You will also still be invited to participate in the later scheme vote.
If you have already signed the previous private agreement and have indicated an intention to revoke the same, please consider carefully the consequences that we have set out in the FAQ. We would also invite you to read the revised private agreement and consider your position.**
Those who have not signed and still wish to do so may do so below.
If you have already signed the previous private agreement and have indicated an intention to revoke the same, please consider carefully the consequences that we have set out in the FAQs. We would also invite you to read the revised private agreement and consider your position.**
Note that signing the private agreement is not mandatory but presents an option for you without having to participate in the scheme vote. Similarly, users who do not sign the private agreement will also be invited to participate in the scheme voting if you indicate your intention to the Company to do so.
Please note that the final scheme documents and terms will be the same as those offered the private agreements. If the scheme is approved by the requisite threshold of scheme creditors and approved by the Singapore Court, all creditors will be bound by the terms of the scheme regardless of whether the creditor had voted “for” or “against”, or participated in the scheme.***
**For those who have already signed the private agreement, if you still wish to revoke this, you may do so here.
Please review all information carefully. Feel free to contact us for more information.
For the avoidance of doubt, the reactivation of the Z Wallet will only take effect from on or around early April 2023, and it will not be immediate and is subject to the conclusion of the scheme of arrangement and completion of any investment deals.
Cryptocurrency and digital token involve high risks; investors may lose all investment money and should study information carefully and make investments according to own risk profile.