Source: https://www.sec.gov/Archives/edgar/data/1756708/000119312519090351/d650749dex107.htm
Timestamp: 2019-04-26 08:23:08+00:00

Document:
The Company (together with its consolidated subsidiaries, Jumia) is a stock corporation under German law with its registered office in Berlin, registered with the commercial register of the local court of Charlottenburg under HRB 203542 B. The Company focuses on operating a pan-African e-commerce platform.
The registered share capital of the Company currently amounts to EUR 100,050,976.00 and is divided into 100,050,976 no-par value bearer shares (auf den Inhaber lautende Stückaktien).
On the date hereof, the Company and MastercardAsia/Pacific Pte Ltd., an affiliated company of the New Investor (MAPPL , and together with its affiliates (for the avoidance of doubt, including the New Investor) as this term is defined in Rule 501(b) of the Regulation D under the United States Securities Act of 1922, as amended (Securities Act) (Mastercard Group)) entered into a commercial agreement (the Commercial Agreement).
The Company is preparing for a public offering of shares, ADS or other instruments of the Company (IPO).
New Investor intends to provide the Company with further capital against shares in the Company (Investment). To determine the terms and conditions of the Investment, the Parties wish to enter into this present agreement including the annexes hereto (Agreement).
In this Agreement defined terms (Defined Terms) shall have the meaning ascribed to them in the relevant definition.
Unless the context or the express provisions of this Agreement require otherwise, headings and subheadings of the paragraphs and/or provisions contained herein are for convenience and reference purposes only and shall not have any effect on the meaning or construction of any of the provisions hereof.
This Agreement shall become effective on the date hereof, subject to the conditions precedent set forth in II.§ 9.
Subject to the terms and conditions of this Agreement, New Investor agrees to purchase from the Company, and the Company agrees to sell and issue to New Investor, the Sale Shares at the IPO Price. IPO Price shall mean a price per share in the Company with the nominal amount of EUR 1.00, equal to the per share initial public offering price (before underwriting discounts and expenses) in the Qualified IPO as translated from U.S. dollars into euros using the latest exchange rate determined by the European Central Bank before approval of the IPO Price by the IPO Committee of the Companys Supervisory Board, provided that the IPO Price shall in no event exceed the Maximum Price. Maximum Price shall mean a price per share in the Company with the nominal amount of EUR 1.00, equal to EUR 14.74. Sale Shares shall mean the number of shares in the Company with the nominal amount of EUR 1.00, equal to EUR 50,000,000 divided by the IPO Price, rounded up the nearest whole share. Qualified IPO shall mean the issuance and sale of shares, ADS or other instruments of the Company, pursuant to an underwriting agreement to be entered into by and among the Company and certain underwriters (Underwriters), in connection with the Companys initial public offering pursuant to the Companys registration statement on form F-1 (file no. 333-230207) (Registration Statement) and/or any related registration statements (Underwriting Agreement).
no action, suit or proceeding by or before any court or governmental agency, authority or body or any arbitrator involving Jumia with respect to the representations and warranties listed in Clauses §§ 5.10 - 5.15 is pending or, to the best knowledge of Jumia, threatened.
acquire interests in any of the Companys loans, debt securities, equity securities, or assets, other than (i) equity securities acquired from the Company in exchange for equity securities of the Company currently held by the New Investor, any of the direct and indirect subsidiaries of the New Investor or any of such officers and (ii) the acquisition of the Sale Shares as contemplated by this Agreement.
The Parties concur that the consummation of this Agreement is not subject to any filing requirements by any relevant and competent competition authority.
the Company shall not, (i) contribute or otherwise make available all or any part of the proceeds of the sale of the Sale Shares or the proceeds raised with the IPO, directly or indirectly, to, or for the benefit of, any individual or entity (whether or not related to any member of Jumia) for the purpose of financing the activities or business of, other transactions with, or investments in, any individual or entity that is the target of Sanctions or located, organised or resident in a country or territory that is the subject of Sanctions; (ii) engage in any transaction, activity or conduct that would violate applicable Sanctions or rules and regulations of the FCPA, the UK Bribery Act and the OECD Convention, all other applicable anti-bribery and anti-corruption laws and Money Laundering Laws; or (iii) engage in any transaction, activity or conduct that would cause the New Investor or any of their affiliates to be in breach of any Sanctions.
Prior to publication of any disclosure about the Mastercard Group, the Agreement and the Commercial Agreement or any other mentioning of Mastercard Group in the Registration Statement in any form, any free writing prospectus related to the Registration Statement, any final prospectus, any supplement or amendment to the prospectus and any other marketing material prepared in connection with the IPO, the Company shall solicit, and shall use best efforts to ensure that all other parties acting on its behalf in connection with the Qualified IPO (including, for the avoidance of doubt, the Underwriters) solicit, to the extent reasonably practicable, the New Investors consent with regard to such publication.
the Commercial Agreement has been duly and validly executed by the Company and the MAPPL and has not been revoked, unless MAPPL has revoked the Commercial Agreement.
The New Investor may waive any of the foregoing conditions in its sole discretion.
This Agreement shall terminate (i) at any time upon the written consent of both the Company and the New Investor, (ii) upon the withdrawal by the Company of the Registration Statement, or (iii) on 31 May 2019 if the Closing has not occurred.
to the extent to which necessary by statutory law, regulations or stock exchange rules binding a Party or anyone controlling a Party.
The Parties are entitled to disclose information to their affiliates.
The Parties shall not make any public announcement or issue a press release or respond to any enquiry from the press or other media concerning or relating to this Agreement or its subject matter or the parties to it or the documents referred to in or entered into pursuant to this Agreement without the prior written consent of the other Parties, except as required by law, under generally accepted accounting principles or the rules of any stock exchange or governmental authority.
To the extent that the disclosure of information or the making of an announcement, as the case may be, is permitted under §§ 11.1.4 through 11.1.6, respectively, such disclosure or announcement shall, to the extent lawful, only be made after consultation with the other Parties and after taking into account the reasonable requirements of the other Parties as to the content of such disclosure or announcement.
All notices, requests and other communications in connection with this Agreement shall be made in writing in English and shall be delivered personally or sent by registered letter (in each case with a copy by email to the extent that an email address has been specified below for the respective addressee(s)) to the addresses below or to such other addresses as maybe specified by any Party to the other Parties in the same manner.
Any single rights and/or single obligations defined under this Agreement or this Agreement as a whole cannot be transferred or assigned in whole or in part without the prior written consent of the other Parties.
Each Party shall bear its own costs for the draft and advice in connection with the conclusion of this Agreement and the measures provided for in it.
Alterations and additions to this Agreement must be in written form and be signed by each Party in order to be valid, any such alteration or addition shall furthermore be notarized if notarial recording is prescribed. This also applies for any alterations or amendments or any waiver of this requirement of the written form.
This Agreement is subject to the substantive laws of the Federal Republic of Germany.
Any disputes of the Parties resulting out of or in connection with this Agreement shall exclusively be settled by arbitration in accordance with the rules of German Institution of Arbitration (DIS-SchO) and the supplementary rules for corporate litigation (DIS-ERGes). The arbitration tribunal shall be composed of three arbitrators. The claimant and the respondent shall each nominate one member of the tribunal. The third member of the tribunal shall be mutually appointed by the members nominated by the claimant and the respondent and shall be the chairman. The place of arbitration shall be Berlin. The arbitration proceedings shall be conducted in English.
The effects of the arbitral decision shall extend also to Parties that have been timely nominated as concerned parties (Betroffene) regardless of whether they have chosen to make use of the option to act as intervenor (Nebenintervenient) in the arbitration proceedings (section 11 DIS-ERGes). Parties that were timely nominated as concerned shareholders shall recognise the decision made in accordance with the provisions of the supplementary rules for corporate litigation (DIS-ERGes).
Each Party remains bound by this § 16.2 even after having left the Company for whatever legal reason.
In case of any litigation which would be subject to arbitration proceedings in accordance with this § 16.2 but has been put in front of ordinary courts, the Company always has to raise the objection that arbitration proceedings have been agreed between the Parties pursuant to this Agreement.
In case individual provisions of this Agreement are invalid or if this Agreement contains gaps, this does not affect the validity of the remaining provisions. Such invalid provision shall be replaced and the gap shall be filled by a valid provision which corresponds to the meaning and purpose of the invalid provision and which corresponds to what would reasonably have been agreed in accordance with the sense and purpose of this Agreement if the matter had been considered from the outset.
Any Defined Terms (as defined in § 2 of the Private Placement Agreement) used in this Annex 4.2 shall have the meaning ascribed to them in the relevant definition as set forth in the Private Placement Agreement. Any terms defined in this Annex 4.2 shall have the meaning ascribed to them in the relevant definition.
The share capital of the Company shall be increased from up to EUR [●].00 (in words: Euro [●]) against contributions in cash by up to EUR [●].00 (in words: Euro [●]) through issuance of up to [●] new no-par value bearer shares with a pro rata amount in the share capital of the Company of EUR 1.00 (in words: Euro one) per share (New Shares) to up to EUR [●].00 (in words: Euro [●]) (Capital Increase) by resolution of an extraordinary general meeting of the Company, to be held on or about 1 April 2019 (Capital Increase Resolution).
The Capital Increase Resolution shall be resolved upon subject to the condition precedent (aufschiebende Bedingung) that the implementation of the capital increase for the issuance of the IPO primary tranche and the implementation of the capital increase for the issuance of shares to existing shareholders for anti-dilution purposes (Anti-Dilution Capital Increase), if and to the extent the Anti-Dilution Capital Increase is implemented as determined by the management board with the consent of the supervisory board or a committee formed by the supervisory board, have become effective.
The New Shares shall bear the right to participate in the profits of the Company beginning with the first day of the business year in which the Capital Increase has been registered with the commercial register. New Investor shall exclusively be admitted to subscribe for all New Shares. The statutory subscription rights of the shareholders of the Company shall be excluded regarding the Capital Increase. The management board of the Company shall be authorized, with the consent of the supervisory board or a committee formed by the supervisory board, to determine the final number of the New Shares to be issued in the course of the Capital Increase in accordance with the detailed provisions set forth in the Private Placement Agreement.
The New Shares shall be issued at the minimum issuance price (Ausgabebetrag) of EUR 1.00 per New Share. The issuance price has to be entirely paid in cash as set forth in § 4.
Following the determination of the IPO Price, the management board of the Company shall determine, with the approval of the IPO committee of the supervisory board of the Company, the scope of implementation of the Capital Increase and the number of New Shares that is equal to the Sale Shares (Subscription Shares). The IPO committee of the supervisory board of the Company shall resolve on the corresponding amendment of the articles of association of the Company (Amendment of Articles).
New Investor undertakes to subscribe without undue delay after the Qualified IPO for the Subscription Shares in the proper and valid form by executing the respective subscription certificate substantially in the form as attached hereto as Exhibit and delivering the original to the Company.
New Investor undertakes to pay to the Company a cash contribution in the amount of the minimum issuance price of EUR 1.00 per Subscription Share (Contribution Amount).
New Investor further undertakes to pay to the Company per Subscription Share an additional amount of the IPO Price less the Contribution Amount into the Companys free capital reserves within the meaning of § 272 para. 2 no. 4 of the German Commercial Code (HGB) (Additional Payment).
The Company warrants that account stated above is not an overdraft account.
the Company has received the confirmation by the bank that the payment of the Additional Amount has been made to the special account of the Company ultimately at the unrestricted disposal of the Management Board.
The Company shall  also in case any interim orders will be issued  perform all acts and make all declarations necessary for the registration of the Capital Increase and the Amendment of Articles with the commercial register of the Company.
Die außerordentliche Hauptversammlung der Jumia Technologies AG, Berlin, eingetragen im Handelsregister des Amtsgerichts Charlottenburg unter HRB 203542 B (die Gesellschaft), hat mit Beschluss vom . April 2019 die Erhöhung des Grundkapitals der Gesellschaft von bis zu EUR [●].00 um bis zu EUR [●],00 durch Ausgabe von bis zu [●] neuen, auf den Inhaber lautenden Stückaktien mit einem auf die einzelne Aktie entfallenden anteiligen Betrag des Grundkapitals in Höhe von EUR 1,00 gegen Bareinlagen unter Ausschluss des Bezugsrechts der Aktionäre der Gesellschaft auf bis zu EUR [●],00 beschlossen (der Kapitalerhöhungsbeschluss).
The extraordinary General Meeting of Jumia Technologies AG, Berlin, registered with the commercial register of the local court of Charlottenburg under HRB 203542 B (the Company), resolved by resolution dated  April 2019 to increase the share capital of the Company from up to EUR [●].00 by up to EUR [●].00 through the issuance of up to [●] new no-par value bearer shares, each of which representing a portion of the share capital of EUR 1.00, against contributions in cash under exclusion of the subscription rights of the shareholders of the Company to up to EUR [●].00 (the Capital Increase Resolution).
Die neuen Aktien sind ab dem 01. Januar 2019 (einschließlich) voll gewinnanteilsberechtigt und werden zum geringsten Ausgabebetrag in Höhe von EUR 1,00 je Aktie ausgegeben.
The new shares are fully entitled to profits as of (and including) 1 January 2019 and are issued at the minimum issuance price of EUR 1.00 per share.
Zur Zeichnung der neuen Aktien ist ausschließlich die Mastercard Europe SA mit Sitz in Waterloo, Belgien, eingetragen im Belgischen Handelsregister unter Nr. 0448.038.446 (Mastercard) zugelassen.
For subscription of the new shares, exclusively Mastercard Europe SA with seat in Waterloo, Belgium, registered with the Belgian trade register under no. 0448.038.446 (Mastercard) is admitted.
Entsprechend der näheren Vorgaben des Beschlusses der außerordentlichen Hauptversammlung der Gesellschaft vom . April 2019 hat der Vorstand der Gesellschaft durch Beschluss vom [●] mit Zustimmung des IPO-Ausschusses des Aufsichtsrats durch Beschluss vom [●]die Gesamtzahl der auszugebenden neuen Aktien auf [●] festgesetzt. Damit wird das Grundkapital der Gesellschaft von EUR [●],00 um EUR [●],00 durch Ausgabe von [●] neuen, auf den Inhaber lautenden Stückaktien gegen Bareinlagen auf EUR [●],00 erhöht.
In accordance with the more detailed provisions of the resolution of the extraordinary General Meeting of the Company held on  April 2019, the Management Board of the Company determined by resolution on [●], with the consent of the IPO Committee of the Supervisory Board by resolution on [●], the total number of new shares to be issued to be [●]. The share capital of the Company will thus be increased from EUR [●].00 by EUR [●].00 through the issuance of [●] new no-par value bearer shares against contributions in cash to EUR [●].00.
auf das bei der [●] zins- und provisionsfrei geführte Sonderkonto der Gesellschaft mit der Bezeichnung [Sonderkonto Kapitalerhöhung Jumia] ein.
to the special account of the Company at [●], free of interest and commission with the name [Sonderkonto Kapitalerhöhung Jumia].
Der Ausgabebetrag in Höhe von EUR 1,00 je Aktie und damit der gesamte Ausgabebetrag der gezeichneten Aktien in Höhe von insgesamt EUR [●],00 sind mit Wertstellung zum [●]endgültig zur freien Verfügung des Vorstands an die Gesellschaft zu zahlen (Betrag der festgesetzten Einzahlungen im Sinne von § 185 Abs. 1 Satz 3 Nr. 2 AktG).
The issuance price of EUR 1.00 per share and thus the total issuance price of the subscribed shares in the amount of EUR [●].00 are to be paid on the value date of [●]to the Company ultimately at the unrestricted disposal of the Management Board (amount of the fixed contributions within the meaning of § 185 para. 1 sentence 3 no. 2 German Stock Corporation Act (Aktiengesetz, AktG).
Die Zeichnung wird unverbindlich, wenn die Durchführung der Kapitalerhöhung nicht bis zum Ablauf des [●]. April 2019, 24:00 Uhr mitteleuropäischer Sommerzeit (MESZ), in das Handelsregister des für die Gesellschaft zuständigen Amtsgerichts Charlottenburg eingetragen ist.
The subscription shall not be binding if the implementation of the capital increase has not been registered with the commercial register of the local court Charlottenburg, which is responsible for the Company, by the end of [●] April 2019, 24:00 hours Central European Summer Time (CEST).
Es wird klargestellt, dass außer der vorstehenden Bestimmung des Datums gemäß § 185 Abs. 1 Satz 3 Nr. 4 AktG alle sonstigen Angaben dieses Zeichnungsscheins keine Beschränkungen der Verpflichtung von Mastercard darstellen (§ 185 Abs. 2 AktG).
It is clarified that, apart from the aforementioned determination of the date pursuant to § 185 para. 1 sentence 3 no. 4 AktG, all other indications made in this subscription certificate do not constitute restrictions on Mastercard obligation (§ 185 para. 2 AktG).
Die deutsche Fassung dieses Zeichnungsscheins ist maßgeblich.
The German wording of this subscription certificate is decisive.

References: § 16
 § 16
 § 2
 § 4
 § 272
 § 185
 § 185
 § 185
 § 185