Document:

Exhibit
10.7

 

LOCK-UP
AGREEMENT

FOR
HOLDERS OF GREATER THAN 2.5% OF SINGAPORE NEWCO ORDINARY SHARES

 

THIS
LOCK-UP AGREEMENT (this “Agreement”) is dated as of [●], 2020, by and between the undersigned (the “Holder”)
and Diginex Limited, a Singapore public company limited by shares (“Singapore NewCo”). Capitalized terms used,
but not otherwise defined herein, have the meanings ascribed to such terms in the Amended Share Exchange Agreement (as defined
below).

 

BACKGROUND

 

A. On
July 9, 2019, 8i Enterprises Acquisition Corp., a British Virgin Islands company (“8i”), Diginex Ltd., a Hong
Kong company (“Diginex”), the shareholders of Diginex (each, a “Shareholder” and, collectively,
the “Shareholders”), and Pelham Limited, as representative of the Shareholders (the “Representative”),
entered into a share exchange agreement (the “Share Exchange Agreement”), pursuant to which the Shareholders
agreed to sell, transfer, convey, assign and deliver all of the issued and outstanding shares of Diginex owned by the Shareholders
to 8i in exchange for the issuance of an aggregate of 20,000,000 ordinary shares, no par value, of 8i (the “8i Closing
Payment Shares”), to the Shareholders (the “8i Share Exchange”).

 

B. On
October 8, 2019, the parties to the Share Exchange Agreement entered into an amendment and joinder agreement to the Share Exchange
Agreement (the “Amendment,” and together with the Share Exchange Agreement, the “Amended Share Exchange
Agreement”),with Diginex Limited, a Singapore public company limited by shares (“Singapore NewCo”), and
its wholly-owned subsidiary DIGITAL INNOVATIVE LIMITED, a British Virgin Islands business company (“BVI NewCo”),
for the purpose of joining both entities as parties to the Share Exchange Agreement. The Share Exchange Agreement was amended
to, among other things, provide that, in lieu of 8i issuing the 8i Closing Payment Shares the Shareholders in the 8i Share Exchange,
Singapore NewCo would issue an equal number of its ordinary shares, no par value, (the “Singapore NewCo Closing Payment
Shares”) to the Shareholders (the “Share Exchange”).

 

C. Pursuant
to the Amended Share Exchange Agreement, the Shareholders agreed to certain transfer restrictions with respect to their Singapore
NewCo Closing Payment Shares as a condition to the consummation of the Share Exchange.

 

NOW,
THEREFORE, for and in consideration of the mutual covenants and agreements set forth herein, and for other good and valuable consideration,
the receipt and sufficiency of which is hereby acknowledged, the parties, intending to be legally bound, agree as follows:

 

AGREEMENT

 

1.
Lock-Up.

 

(a) During
the Lock-up Period (as defined below), the undersigned Shareholder irrevocably agrees that it, he or she will not (i) offer, sell,
contract to sell, pledge or otherwise dispose of, directly or indirectly, any of the Singapore NewCo Closing Payment Shares, (ii)
enter into a transaction that would have the same effect, or enter into any swap, hedge or other arrangement that transfers, in
whole or in part, any of the economic consequences of ownership of the Singapore NewCo Closing Payment Shares, whether any of
these transactions are to be settled by delivery of any Singapore NewCo Closing Payment Shares, in cash or otherwise, (iii) publicly
disclose the intention to make any offer, sale, pledge or disposition of the Singapore NewCo Closing Payment Shares, or (iv) enter
into any transaction, swap, hedge or other arrangement, or engage in any Short Sales (as defined below) with respect to the Singapore
NewCo Closing Payment Shares;

 

    	 

    	 

    

 

(b) In
furtherance of the foregoing, Singapore NewCo will (i) place an irrevocable stop order on all Singapore NewCo Closing Payment
Shares, including those which may be covered by a registration statement, and (ii) notify Singapore NewCo’s transfer agent
in writing of the stop order and the restrictions on such Singapore NewCo Closing Payment Shares under this Agreement and direct
Singapore NewCo’s transfer agent not to process any attempts by the Shareholder to resell or transfer any Singapore NewCo
Closing Payment Shares during the Lock-Up Period, except in compliance with this Agreement.

 

(c) For
purposes hereof, “Short Sales” include, without limitation, all “short sales” as defined in Rule
200 promulgated under Regulation SHO under the Securities Exchange Act of 1934, as amended (the “Exchange Act”),
and all types of direct and indirect stock pledges, forward sale contracts, options, puts, calls, swaps and similar arrangements
(including on a total return basis), and sales and other transactions through non-U.S. broker dealers or foreign regulated brokers.

 

(d) The
“Lock-up Period” means a period of twelve months commencing on the Closing Date.

 

2. Permitted
Transfers. Notwithstanding the foregoing, and subject to the conditions below, the undersigned
may transfer Singapore NewCo Closing Payment Shares (a) in connection with transfers or distributions to the Shareholder’s
current or former general or limited partners, managers or members, stockholders, other equityholders or direct or indirect affiliates
(within the meaning of Rule 405 under the Securities Act of 1933, as amended (the “Securities Act”)) or to the estates
of any of the foregoing; (b) in connection with transfers by bona fide gift to a member of the Shareholder’s immediate family
or to a trust, the beneficiary of which is the Shareholder or a member of the Shareholder’s immediate family for estate
planning purposes; (c) by virtue of the laws of descent and distribution upon death of the Shareholder; (d) to strategic investors
approved by Singapore NewCo’s board of directors, or (e) pursuant to a qualified domestic relations order, in each case
where such transferee agrees to be bound by the terms of this Agreement, provided that
in the case of any transfer pursuant to the foregoing clauses (i) it shall be a condition to any such transfer that (i) the transferee/donee
agrees to be bound by the terms of this Agreement (including, without limitation, the restrictions set forth in the preceding
sentence) to the same extent as if the transferee/donee were a party hereto; (ii) each party (donor, donee, transferor or transferee)
shall not be required by law (including without limitation the disclosure requirements of the Securities Act, and the Exchange
Act) to make, and shall agree to not voluntarily make, any filing or public announcement of the transfer or disposition prior
to the expiration of the Lock-Up Period. 

 

3. Representations
and Warranties. Each of the parties hereto, by their respective execution and
delivery of this Agreement, hereby represents and warrants to the other that (a) such party has the full right, capacity and
authority to enter into, deliver and perform its respective obligations under this Agreement, (b) this Agreement has been
duly executed and delivered by such party and is a binding and enforceable obligation of such party and, enforceable against
such party in accordance with the terms of this Agreement, and (c) the execution, delivery and performance of such
party’s obligations under this Agreement will not conflict with or breach the terms of any other agreement, contract,
commitment or understanding to which such party is a party or to which the assets or securities of such party are bound. The
Shareholder has independently evaluated the merits of its decision to enter into and deliver this Agreement, and such
Shareholder confirms that it has not relied on the advice of Singapore NewCo, Singapore NewCo’s legal counsel, Diginex
or its legal counsel, or any other person. 

 

    	 

    	 

    

 

4. No
Additional Fees/Payment. Other than the consideration specifically referenced herein, the parties hereto agree that no fee,
payment or additional consideration in any form has been or will be paid to the Shareholder in connection with this Agreement. 

 

5. Notices.
Any notices required or permitted to be sent hereunder shall be sent in writing, addressed as specified below, and shall be deemed
given: (a) if by hand or recognized courier service, by 4:00PM on a business day, addressee’s day and time, on the date
of delivery, and otherwise on the first business day after such delivery; (b) if by fax or email, on the date that transmission
is confirmed electronically, if by 4:00PM on a business day, addressee’s day and time, and otherwise on the first business
day after the date of such confirmation; or (c) five days after mailing by certified or registered mail, return receipt requested.
Notices shall be addressed to the respective parties as follows (excluding telephone numbers, which are for convenience only),
or to such other address as a party shall specify to the others in accordance with these notice provisions: 

 

	 	(a) 	If to
    Singapore NewCo, to:

 

Diginex
Limited

35/F
Two International

Finance
Street, Central, Hong Kong

Attention:
Paul Ewing

Phone:
+852 2248 0600

E-mail:
paul.ewing@diginex.com

 

with
a copy (which shall not constitute notice) to:

 

Winston
& Strawn LLP

200
Park Avenue

New
York, NY 10166

Attention:
Joel Rubinstein

Phone:
(212) 294-6700

Email:
JRubinstein@winston.com

 

	 	(b) 	If to the Holder,
    to the address set forth on the Holder’s signature page hereto, with a copy, which shall not constitute notice,
    to:

 

[●]

[●]

[●]

Attention:
[●]

Phone:
[●]

Email:
[●]

 

or
to such other address as any party may have furnished to the others in writing in accordance herewith.

 

    	 

    	 

    

 

6. Enumeration
and Headings. The enumeration and headings contained in this Agreement are for convenience of reference only and shall
not control or affect the meaning or construction of any of the provisions of this Agreement.

 

7. Counterparts.
This Agreement may be executed in facsimile and in any number of counterparts, each of which when so executed and delivered
shall be deemed an original, but all of which shall together constitute one and the same agreement.

 

8.
Successors and Assigns. This Agreement and the terms, covenants, provisions and conditions hereof shall be binding upon,
and shall inure to the benefit of, the respective heirs, successors and assigns of the parties hereto. The Holder hereby acknowledges
and agrees that this Agreement is entered into for the benefit of and is enforceable by Singapore NewCo and its successors and
assigns. 

 

9. Severability.
If any provision of this Agreement is held to be invalid or unenforceable for any reason, such provision will be conformed to
prevailing law rather than voided, if possible, in order to achieve the intent of the parties and, in any event, the
remaining provisions of this Agreement shall remain in full force and effect and shall be binding upon the parties
hereto.

 

10. Amendment.
This Agreement may be amended or modified by written agreement executed by each of the parties hereto.

 

11.
Further Assurances. Each party shall do and perform, or cause to be done and performed,
all such further acts and things, and shall execute and deliver all such other agreements, certificates, instruments and documents,
as any other party may reasonably request in order to carry out the intent and accomplish the purposes of this Agreement and the
consummation of the transactions contemplated hereby. 

 

12. No
Strict Construction. The language used in this Agreement will be deemed to be the language chosen by the parties to
express their mutual intent, and no rules of strict construction will be applied against any party.

 

13. Dispute
Resolution. Article XI of the Share Exchange Agreement regarding arbitration of disputes is incorporated by reference
herein to apply with full force to any disputes arising under this Agreement.

 

14. Governing
Law. The terms and provisions of this Agreement shall be construed in accordance with the laws of the State of New
York.

 

15. Controlling
Agreement. To the extent the terms of this Agreement (as amended, supplemented, restated or otherwise modified from time
to time) directly conflicts with a provision in the Amended Share Exchange Agreement, the terms of this Agreement shall
control.

 

[Signature
Page Follows]

 

    	 

    	 

    

 

IN
WITNESS WHEREOF, the parties hereto have caused this Lock-up Agreement to be duly executed by their respective authorized signatories
as of the date first indicated above.

 

	 	DIGINEX LIMITED
	 	 	 
	 	By:
    	 
	 	Name:	[●]
	 	Title: 	[●]

 

    	 

    	 

    

 

IN
WITNESS WHEREOF, the parties hereto have caused this Lock-up Agreement to be duly executed by their respective authorized signatories
as of the date first indicated above.

 

	 	HOLDER
	 	 	 
	 	By:
    	 
	 	Name:	 
	 	 	            
	 	Address:
	 	 
	 		[●]
	 	 	 
	 	NUMBER OF SINGAPORE NEWcO cLOSING PAYMENT Shares:
	 	 	 
	 		[●]

 

    	 

    	 

    

  

LOCK-UP
AGREEMENT

FOR
HOLDERS OF LESS THAN 2.5% OF SINGAPORE NEWCO ORDINARY SHARES

 

THIS
LOCK-UP AGREEMENT (this “Agreement”) is dated as of [●], 2020, by and between the undersigned (the “Holder”)
and Diginex Limited, a Singapore public company limited by shares (“Singapore NewCo”). Capitalized terms used,
but not otherwise defined herein, have the meanings ascribed to such terms in the Amended Share Exchange Agreement (as defined
below).

 

BACKGROUND

 

A.
On July 9, 2019, 8i Enterprises Acquisition Corp., a British Virgin Islands company (“8i”), Diginex Ltd.,
a Hong Kong company (“Diginex”), the shareholders of Diginex (each, a “Shareholder”
and, collectively, the “Shareholders”), and Pelham Limited, as representative of the Shareholders (the
“Representative”), entered into a share exchange agreement (the “Share Exchange
Agreement”), pursuant to which the Shareholders agreed to sell, transfer, convey, assign and deliver all of the
issued and outstanding shares of Diginex owned by the Shareholders to 8i in exchange for the issuance of an aggregate of
20,000,000 ordinary shares, no par value, of 8i (the “8i Closing Payment Shares”), to the Shareholders
(the “8i Share Exchange”).

 

B.
On October 8, 2019, the parties to the Share Exchange Agreement entered into an amendment and joinder agreement to the Share
Exchange Agreement (the “Amendment,” and together with the Share Exchange Agreement, the “Amended
Share Exchange Agreement”),with Diginex Limited, a Singapore public company limited by shares (“Singapore
NewCo”), and its wholly-owned subsidiary DIGITAL INNOVATIVE LIMITED, a British Virgin Islands business company
(“BVI NewCo”), for the purpose of joining both entities as parties to the Share Exchange Agreement. The
Share Exchange Agreement was amended to, among other things, provide that, in lieu of 8i issuing the 8i Closing Payment
Shares the Shareholders in the 8i Share Exchange, Singapore NewCo would issue an equal number of its ordinary shares, no par
value, (the “Singapore NewCo Closing Payment Shares”) to the Shareholders (the “Share
Exchange”).

 

C.
Pursuant to the Amended Share Exchange Agreement, the Shareholders agreed to certain transfer restrictions with respect to
their Singapore NewCo Closing Payment Shares as a condition to the consummation of the Share Exchange.

 

NOW,
THEREFORE, for and in consideration of the mutual covenants and agreements set forth herein, and for other good and valuable consideration,
the receipt and sufficiency of which is hereby acknowledged, the parties, intending to be legally bound, agree as follows:

 

AGREEMENT

 

1. Lock-Up.

 

(a) During
the Lock-up Period (as defined below), the undersigned Shareholder irrevocably agrees that it, he or she will not (i) offer, sell,
contract to sell, pledge or otherwise dispose of, directly or indirectly, any of the Singapore NewCo Closing Payment Shares, (ii)
enter into a transaction that would have the same effect, or enter into any swap, hedge or other arrangement that transfers, in
whole or in part, any of the economic consequences of ownership of the Singapore NewCo Closing Payment Shares, whether any of
these transactions are to be settled by delivery of any Singapore NewCo Closing Payment Shares, in cash or otherwise, (iii) publicly
disclose the intention to make any offer, sale, pledge or disposition of the Singapore NewCo Closing Payment Shares, or (iv) enter
into any transaction, swap, hedge or other arrangement, or engage in any Short Sales (as defined below) with respect to the Singapore
NewCo Closing Payment Shares;

 

    	 

    	 

    

 

(b) In
furtherance of the foregoing, Singapore NewCo will (i) place an irrevocable stop order on all Singapore NewCo Closing Payment
Shares, including those which may be covered by a registration statement, and (ii) notify Singapore NewCo’s transfer agent
in writing of the stop order and the restrictions on such Singapore NewCo Closing Payment Shares under this Agreement and direct
Singapore NewCo’s transfer agent not to process any attempts by the Shareholder to resell or transfer any Singapore NewCo
Closing Payment Shares during the Lock-Up Period, except in compliance with this Agreement.

 

(c) For
purposes hereof, “Short Sales” include, without limitation, all “short sales” as defined in Rule
200 promulgated under Regulation SHO under the Securities Exchange Act of 1934, as amended (the “Exchange Act”),
and all types of direct and indirect stock pledges, forward sale contracts, options, puts, calls, swaps and similar arrangements
(including on a total return basis), and sales and other transactions through non-U.S. broker dealers or foreign regulated brokers.

 

(d) The
“Lock-up Period” means a period of six months commencing on the Closing Date.

 

2. Permitted
Transfers. Notwithstanding the foregoing, and subject to the conditions below, the undersigned may transfer Singapore
NewCo Closing Payment Shares (a) in connection with transfers or distributions to the Shareholder’s current or former
general or limited partners, managers or members, stockholders, other equityholders or direct or indirect affiliates (within
the meaning of Rule 405 under the Securities Act of 1933, as amended (the “Securities Act”)) or to the estates of
any of the foregoing; (b) in connection with transfers by bona fide gift to a member of the Shareholder’s immediate
family or to a trust, the beneficiary of which is the Shareholder or a member of the Shareholder’s immediate family for
estate planning purposes; (c) by virtue of the laws of descent and distribution upon death of the Shareholder; (d) to
strategic investors approved by Singapore NewCo’s board of directors, or (e) pursuant to a qualified domestic relations
order, in each case where such transferee agrees to be bound by the terms of this Agreement, provided that in the case of any
transfer pursuant to the foregoing clauses (i) it shall be a condition to any such transfer that (i) the transferee/donee
agrees to be bound by the terms of this Agreement (including, without limitation, the restrictions set forth in the preceding
sentence) to the same extent as if the transferee/donee were a party hereto; (ii) each party (donor, donee, transferor or
transferee) shall not be required by law (including without limitation the disclosure requirements of the Securities Act, and
the Exchange Act) to make, and shall agree to not voluntarily make, any filing or public announcement of the transfer or
disposition prior to the expiration of the Lock-Up Period.

 

3. Representations
and Warranties. Each of the parties hereto, by their respective execution and delivery of this Agreement, hereby
represents and warrants to the other that (a) such party has the full right, capacity and authority to enter into, deliver
and perform its respective obligations under this Agreement, (b) this Agreement has been duly executed and delivered by such
party and is a binding and enforceable obligation of such party and, enforceable against such party in accordance with the
terms of this Agreement, and (c) the execution, delivery and performance of such party’s obligations under this
Agreement will not conflict with or breach the terms of any other agreement, contract, commitment or understanding to which
such party is a party or to which the assets or securities of such party are bound. The Shareholder has independently
evaluated the merits of its decision to enter into and deliver this Agreement, and such Shareholder confirms that it has not
relied on the advice of Singapore NewCo, Singapore NewCo’s legal counsel, Diginex or its legal counsel, or any other
person.

 

    	 

    	 

    

 

4. No
Additional Fees/Payment. Other than the consideration specifically referenced herein, the parties hereto agree that no
fee, payment or additional consideration in any form has been or will be paid to the Shareholder in connection with this
Agreement.

 

5. Notices.
Any notices required or permitted to be sent hereunder shall be sent in writing, addressed as specified below, and shall be
deemed given: (a) if by hand or recognized courier service, by 4:00PM on a business day, addressee’s day and time, on
the date of delivery, and otherwise on the first business day after such delivery; (b) if by fax or email, on the date that
transmission is confirmed electronically, if by 4:00PM on a business day, addressee’s day and time, and otherwise on
the first business day after the date of such confirmation; or (c) five days after mailing by certified or registered mail,
return receipt requested. Notices shall be addressed to the respective parties as follows (excluding telephone numbers, which
are for convenience only), or to such other address as a party shall specify to the others in accordance with these notice
provisions:

 

		(a)	If
                                         to Singapore NewCo, to:

 

Diginex
Limited

35/F
Two International

Finance
Street, Central, Hong Kong

Attention:
Paul Ewing

Phone:
+852 2248 0600

E-mail:
paul.ewing@diginex.com

 

with
a copy (which shall not constitute notice) to:

 

Winston
& Strawn LLP

200
Park Avenue

New
York, NY 10166

Attention:
Joel Rubinstein

Phone:
(212) 294-6700

Email:
JRubinstein@winston.com

 

		(b)	If
                                         to the Holder, to the address set forth on the Holder’s signature page hereto,
                                         with a copy, which shall not constitute notice, to:

 

[●]

[●]

[●]

Attention:
[●]

Phone:
[●]

Email:
[●]

 

or
to such other address as any party may have furnished to the others in writing in accordance herewith.

 

6. Enumeration
and Headings. The enumeration and headings contained in this Agreement are for convenience of reference only and shall
not control or affect the meaning or construction of any of the provisions of this Agreement.

 

    	 

    	 

    

 

7. Counterparts.
This Agreement may be executed in facsimile and in any number of counterparts, each of which when so executed and delivered
shall be deemed an original, but all of which shall together constitute one and the same agreement.

 

8. Successors
and Assigns. This Agreement and the terms, covenants, provisions and conditions hereof shall be binding upon, and shall
inure to the benefit of, the respective heirs, successors and assigns of the parties hereto. The Holder hereby acknowledges
and agrees that this Agreement is entered into for the benefit of and is enforceable by Singapore NewCo and its successors
and assigns.

 

9. Severability.
If any provision of this Agreement is held to be invalid or unenforceable for any reason, such provision will be conformed to
prevailing law rather than voided, if possible, in order to achieve the intent of the parties and, in any event, the
remaining provisions of this Agreement shall remain in full force and effect and shall be binding upon the parties
hereto.

 

10. Amendment.
This Agreement may be amended or modified by written agreement executed by each of the parties hereto.

 

11. Further
Assurances. Each party shall do and perform, or cause to be done and performed, all such further acts and things, and
shall execute and deliver all such other agreements, certificates, instruments and documents, as any other party may
reasonably request in order to carry out the intent and accomplish the purposes of this Agreement and the consummation of the
transactions contemplated hereby.

 

12. No
Strict Construction. The language used in this Agreement will be deemed to be the language chosen by the parties to
express their mutual intent, and no rules of strict construction will be applied against any party.

 

13. Dispute
Resolution. Article XI of the Share Exchange Agreement regarding arbitration of disputes is incorporated by reference
herein to apply with full force to any disputes arising under this Agreement.

 

14. Governing
Law. The terms and provisions of this Agreement shall be construed in accordance with the laws of the State of New
York.

 

15. Controlling
Agreement. To the extent the terms of this Agreement (as amended, supplemented, restated or otherwise modified from time
to time) directly conflicts with a provision in the Amended Share Exchange Agreement, the terms of this Agreement shall
control.

 

[Signature
Page Follows]

 

    	 

    	 

    

 

IN
WITNESS WHEREOF, the parties hereto have caused this Lock-up Agreement to be duly executed by their respective authorized signatories
as of the date first indicated above.

 

	 	DIGINEX
    LIMITED
	 	 	 
	 	By: 	 
	 	Name: 	[●]
	 	Title: 	[●]

 

    	 

    	 

    

 

IN
WITNESS WHEREOF, the parties hereto have caused this Lock-up Agreement to be duly executed by their respective authorized signatories
as of the date first indicated above.

 

	 	HOLDER
	 	 	
	 	By:	 
	 	Name:	
	 	 	            
	 	Address:
	 	 	 
	 	 	[●]
	 	 	 
	 	NUMBER
    OF SINGAPORE NewCo CLOSING PAYMENT Shares:
	 	 	 
	 	 	[●]Exhibit
10.8

 

EXECUTION
VERSION 

 

MERGER
AGREEMENT

 

This
MERGER AGREEMENT (this “Agreement”) dated as of October 8, 2019, is entered into by and among Digital Innovative
Limited, a Singapore public company limited by shares (“Singapore NewCo”), DIGITAL INNOVATIVE LIMITED, a British
Virgin Islands company (“BVI NewCo”), and 8i Enterprises Acquisition Corp, a British Virgin Islands business
company (“8i”).

 

W
I T N E S S E T H :

 

	 	A.	BVI
    NewCo is a wholly-owned subsidiary of Singapore NewCo.
	 	 	 
	 	B.	The
    respective boards of directors of BVI NewCo and 8i have each approved and adopted this Agreement and the transactions contemplated
    by this Agreement, in each case after making a determination that this Agreement and such transactions are advisable and fair
    to, and in the best interests of, such company and its shareholders.
	 	 	 
	 	C.	Pursuant
    to the transactions contemplated by this Agreement, BVI NewCo and 8i propose to enter into the articles of merger (the “Articles
    of Merger”), which shall contain the plan of merger (the “Plan of Merger” and, together with
    the Articles of Merger, the “Articles and Plan of Merger”), each substantially in the form set forth on
    Exhibit A hereto.
	 	 	 
	 	D.	On
    the terms and subject to the conditions set forth herein and as provided for in the Plan of Merger and in accordance with
    the laws of the British Virgin Islands, BVI NewCo will merge with and into 8i, with 8i as the surviving company and a subsequent
    wholly-owned subsidiary of Singapore NewCo (the “Merger”).

 

The
parties hereto hereby agree as follows:

 

1.
Merger. Upon the terms and subject to the conditions set forth in this Agreement, and in accordance with the laws of the
British Virgin Islands, at the Effective Time: (a) BVI NewCo shall
merge with and into 8i; (b) the separate corporate existence of BVI NewCo shall cease;
and (c) 8i shall continue its corporate existence under the laws of the British Virgin Islands as the surviving company (the “Surviving
Corporation”) in the Merger and a subsidiary of Singapore NewCo.

 

2.
Effective Time. The Merger shall become effective upon the time (the “Effective Time”) that the Articles
of Merger are registered by the Registrar of Corporate Affairs in the British Virgin Islands, or at such other time as the parties
hereto agree and include in the Articles of Merger. BVI NewCo and 8i shall execute the Articles of Merger and procure the registration
of the Articles of Merger by the Registrar of Corporate Affairs in the British Virgin Islands promptly upon receipt of the required
consent to the Merger from the shareholders of 8i at a meeting of the 8i shareholders held to approve, among other things, the
Merger (the “8i Meeting”).

 

    	 

    	 

    

 

3.
Organizational Documents. At the Effective Time, in accordance with the Plan of Merger, the existing memorandum of association
and articles of association of 8i shall be the memorandum and articles of association of the Surviving Corporation.

 

4.
Directors and Officers. At the Effective Time, the directors and officers of 8i immediately prior to the Effective Time
shall cease to hold office and the directors and officers of BVI NewCo immediately prior to the Effective Time shall be the directors
of the Surviving Corporation from and after the Effective Time and shall hold office until the earlier of their respective death,
resignation or removal or their respective successors are duly elected or appointed and qualified in the manner provided for in
memorandum of association and the articles of association of the Surviving Corporation or as otherwise provided by the applicable
laws of the British Virgin Islands.

 

5.
Conversion of Shares. At the Effective Time, by virtue of the Merger and without any action on the part of BVI NewCo, 8i
or the holders of issued and outstanding shares of 8i or BVI NewCo:

 

a.
each ordinary share with no par value of 8i (each, an “8i Ordinary Shares”), issued and outstanding immediately
prior to the Effective Time, other than the Dissenting Shares (as hereinafter defined), shall be automatically cancelled and cease
to exist and the holder thereof shall in exchange receive one (1) validly issued and fully paid ordinary share of Singapore NewCo
(each, a “Singapore NewCo Ordinary Share”) and the register of members of 8i will be amended accordingly;

 

b.
each Dissenting Share shall be automatically cancelled and cease to exist in accordance with Section 7 of this Agreement in exchange
for the right to receive the applicable payment set forth in Section 7 of this Agreement, and the register of members of 8i will
be amended accordingly; and

 

c.
each ordinary share with no par value of BVI NewCo issued and outstanding immediately prior to the Effective Time shall be automatically
converted into an outstanding ordinary share with no par value in the Surviving Corporation and the register of members of the
Surviving Corporation will be amended accordingly.

 

6.
Other Equity Interests.

 

a.
At the Effective Time, without any action on the part of BVI NewCo, 8i or the holders of issued and outstanding shares of 8i or
BVI NewCo, each Purchaser Warrant (as such term is defined in that certain Share Exchange Agreement, dated July 9, 2019, by and
among, Diginex Ltd., the stockholders of Diginex Ltd. party thereto, Pelham Limited, as the stockholders’ representative,
and 8i (the “Share Exchange Agreement”)) shall be automatically cancelled and cease to exist and for each such
Purchaser Warrant, Singapore NewCo shall issue to each holder thereof an identical warrant to purchase ordinary shares of Singapore
NewCo (the “Singapore NewCo Warrants”).

 

    	 	2	 

    	 

    

 

b.
At the Effective Time, without any action on the part of BVI NewCo, 8i or the holders of issued and outstanding shares of 8i or
BVI NewCo, each Purchaser Right (as such term is defined in the Share Exchange Agreement) shall be automatically cancelled and
cease to exist and for each such Purchaser Right, Singapore NewCo shall issue to each holder thereof one-tenth (1/10) of one Singapore
NewCo Ordinary Share; provided, however, that no fractional shares shall be issued and all fractional shares shall be rounded
to the nearest whole share

 

7.
Dissenting Shares. Notwithstanding any provision of this Agreement to the contrary and to the extent available under the
BVI Business Companies Act (as amended) (the “Act”), each holder of 8i Ordinary Shares who has validly exercised
and not effectively withdrawn its right to dissent from the Merger and to receive payment of the fair value of its 8i Ordinary
Shares pursuant to Section 179 of the Act (a “Dissenting Shareholder” and the 8i Ordinary Shares held by a
Dissenting Shareholder, “Dissenting Shares”) shall be entitled to receive only payment of the fair value of
its Dissenting Shares in accordance with Section 179 of the Act and each Dissenting Share shall be cancelled and cease to exist
in exchange for the right to receive payment of their fair value in accordance with Section 179 of the Act. For the avoidance
of doubt, any 8i Ordinary Share held by any member who shall have failed to exercise or who effectively withdraws its right to
dissent from the Merger under Section 179 of the Act shall (a) not be deemed to be a Dissenting Share and (b) be deemed to have
been cancelled and cease to exist, as of the Effective Time, in exchange for Singapore NewCo Ordinary Shares, as provided in Section
5(a) of this Agreement. As the approval of this Agreement and the Merger is to be presented as a proposal at the 8i Meeting (subject
to any adjournment or recess of such meeting) to be approved by a majority of issued and outstanding 8i Ordinary Shares entitled
to vote and voting on the proposal, pursuant to Section 179 of the Act, 8i shall serve written notice of the authorization of
the Merger to each member of 8i who has given a dissenter’s written notice of objection to the Merger as required under
Section 179 of the Act and has not voted for the Merger at the 8i Meeting within twenty (20) days immediately following the date
on which the authorization is obtained.

 

8.
Issuance of Singapore NewCo Ordinary Shares. Singapore NewCo hereby agrees to issue the Singapore NewCo Ordinary Shares
to the holders of 8i Ordinary Shares at the Effective Time, in accordance with Sections 5(a) and 6(b) of this Agreement, as well
as the issuance of the Singapore NewCo Warrants in accordance with Section 6(a) of this Agreement and the other terms and conditions
set forth in this Agreement.

 

9.
Further Assurances. The parties hereto shall execute and deliver such documents and take such action, as may reasonably
be considered within the scope of such party’s obligations hereunder, necessary to effectuate the transactions contemplated
by this Agreement.

 

10.
Representations and Warranties of Singapore NewCo. Singapore NewCo hereby represents and warrants to 8i as follows:

 

a.
Corporate Existence and Power. Singapore NewCo is a public company limited by shares duly incorporated, validly existing
and in good standing under the laws of Singapore. Singapore NewCo has all company power and authority to own and operate its properties
and assets and to carry on its business as presently conducted. Singapore NewCo is duly licensed or qualified to do business and
is in good standing in each jurisdiction in which the properties owned or leased by it or the operation of its business as currently
conducted makes such licensing or qualification necessary.

 

    	 	3	 

    	 

    

 

b.
Corporate Authorization. The execution, delivery and performance by Singapore NewCo of this Agreement and the consummation
by Singapore NewCo of the transactions contemplated hereby are within the corporate powers of Singapore NewCo and have been duly
authorized by all necessary corporate action on the part of Singapore NewCo. This Agreement has been duly executed and delivered
by Singapore NewCo and assuming the due authorization and execution by each other party hereto, this Agreement constitutes, a
valid and legally binding agreement of Singapore NewCo, enforceable against it in accordance with its and their terms, except
as may be limited by bankruptcy, insolvency, reorganization or other similar laws affecting the enforcement of creditors’
rights generally and by general principles of equity.

 

c.
Governmental Authorization. Neither the execution, delivery or performance of this Agreement by Singapore NewCo requires
any consent, approval, license or other action by or in respect of, or registration, declaration or filing with any governmental
authority.

 

d.
Non-Contravention. The execution, delivery and performance by Singapore NewCo of this Agreement and the consummation by
Singapore NewCo of the transactions contemplated hereby do not and will not (i) contravene or conflict with the organizational
or constitutive documents of Singapore NewCo, or (ii) contravene or conflict with or constitute a violation of any provision of
any law, judgment, injunction, order, writ, or decree binding upon Singapore NewCo, (iii) constitute a default under or breach
of (with or without the giving of notice or the passage of time or both) or violate or give rise to any right of termination,
cancellation, amendment or acceleration of any right or obligation of Singapore NewCo or require any payment or reimbursement
or to a loss of any material benefit relating to its business to which Singapore NewCo is entitled under any provision of any
contract to which Singapore NewCo is a party, or (iv) result in the creation or imposition of any liens, security interests, rights
of first refusal, restrictions, proxies and other encumbrances of any kind whatsoever on any shares of Singapore NewCo, or on
any material properties or assets of Singapore NewCo.

 

e.
Capitalization. The share capital of Singapore NewCo consists of one (1) validly issued and unpaid ordinary share as of
the date hereof. No other shares of capital stock or other voting securities of Singapore NewCo are issued, reserved for issuance
or outstanding. No Singapore NewCo Ordinary Shares have been issued in violation of any purchase option, right of first refusal,
preemptive right, subscription right or any similar right under any provision of the Companies Act (Cap. 50) of Singapore, Singapore
NewCo’s organizational documents or any contract to which Singapore NewCo is a party or by which Singapore NewCo is bound.
The Singapore NewCo Ordinary Shares to be issued to the holders of 8i Ordinary Shares at the Effective Time will be duly authorized,
validly issued and fully paid at the Effective Time.

 

    	 	4	 

    	 

    

 

11.
Representations and Warranties of BVI NewCo. BVI NewCo hereby represents and warrants to 8i as follows:

 

a.
Corporate Existence and Power. BVI NewCo is a BVI business company duly incorporated, validly existing and in good standing
under the laws of British Virgin Islands. BVI NewCo has all corporate power and authority to own and operate its properties and
assets and to carry on its business as presently conducted. BVI NewCo is duly licensed or qualified to do business and is in good
standing in each jurisdiction in which the properties owned or leased by it or the operation of its business as currently conducted
makes such licensing or qualification necessary.

 

b.
Corporate Authorization. The execution, delivery and performance by BVI NewCo of this Agreement and the consummation by
BVI NewCo of the transactions contemplated hereby are within the corporate powers of BVI NewCo and have been duly authorized by
all necessary corporate action on the part of BVI NewCo. This Agreement has been duly executed and delivered by BVI NewCo and
assuming the due authorization and execution by each other party hereto, this Agreement constitutes, a valid and legally binding
agreement of BVI NewCo, enforceable against it in accordance with its and their terms, except as may be limited by bankruptcy,
insolvency, reorganization or other similar laws affecting the enforcement of creditors’ rights generally and by general
principles of equity.

 

c.
Governmental Authorization. Other than the registration of the Articles of Merger by the Registrar of Corporate Affairs
in the British Virgin Islands, neither the execution, delivery or performance of this Agreement by BVI NewCo requires any consent,
approval, license or other action by or in respect of, or registration, declaration or filing with any governmental authority.

 

d.
Non-Contravention. The execution, delivery and performance by BVI NewCo of this Agreement and the consummation by BVI NewCo
of the transactions contemplated hereby do not and will not (i) contravene or conflict with the organizational or constitutive
documents of BVI NewCo, or (ii) contravene or conflict with or constitute a violation of any provision of any law, judgment, injunction,
order, writ, or decree binding upon BVI NewCo, (iii) constitute a default under or breach of (with or without the giving of notice
or the passage of time or both) or violate or give rise to any right of termination, cancellation, amendment or acceleration of
any right or obligation of BVI NewCo or require any payment or reimbursement or to a loss of any material benefit relating to
its business to which BVI NewCo is entitled under any provision of any contract to which BVI NewCo is a party, or (iv) result
in the creation or imposition of any liens, security interests, rights of first refusal, restrictions, proxies and other encumbrances
of any kind whatsoever on any shares of BVI NewCo, or on any material properties or assets of BVI NewCo.

 

12.
Representations and Warranties of 8i. 8i hereby represents and warrants to Singapore NewCo as follows:

 

a.
Corporate Existence and Power. 8i is a BVI business company duly incorporated, validly existing and in good standing under
the laws of British Virgin Islands. 8i has all corporate power and authority to own and operate its properties and assets and
to carry on its business as presently conducted. 8i is duly licensed or qualified to do business and is in good standing in each
jurisdiction in which the properties owned or leased by it or the operation of its business as currently conducted makes such
licensing or qualification necessary.

 

    	 	5	 

    	 

    

 

b.
Corporate Authorization. The execution, delivery and performance by 8i of this Agreement and the consummation by 8i of
the transactions contemplated hereby are within the corporate powers of 8i and, upon obtaining the required consent to the Merger
from the shareholders of 8i at the 8i Meeting, will be duly authorized by all necessary corporate action on the part of 8i. This
Agreement has been duly executed and delivered by 8i and assuming the due authorization and execution by each other party hereto,
this Agreement constitutes, a valid and legally binding agreement of 8i, enforceable against it in accordance with its and their
terms, except as may be limited by bankruptcy, insolvency, reorganization or other similar laws affecting the enforcement of creditors’
rights generally and by general principles of equity.

 

c.
Governmental Authorization. Other than the registration of the Articles of Merger by the Registrar of Corporate Affairs
in the British Virgin Islands, neither the execution, delivery or performance of this Agreement by 8i requires any consent, approval,
license or other action by or in respect of, or registration, declaration or filing with any governmental authority.

 

d.
Non-Contravention. The execution, delivery and performance by 8i of this Agreement and the consummation by 8i of the transactions
contemplated hereby do not and will not (i) contravene or conflict with the organizational or constitutive documents of 8i, or
(ii) contravene or conflict with or constitute a violation of any provision of any law, judgment, injunction, order, writ, or
decree binding upon 8i, (iii) constitute a default under or breach of (with or without the giving of notice or the passage of
time or both) or violate or give rise to any right of termination, cancellation, amendment or acceleration of any right or obligation
of 8i or require any payment or reimbursement or to a loss of any material benefit relating to its business to which 8i is entitled
under any provision of any contract to which 8i is a party, or (iv) result in the creation or imposition of any liens, security
interests, rights of first refusal, restrictions, proxies and other encumbrances of any kind whatsoever on any shares of 8i, or
on any material properties or assets of 8i.

 

13.
Termination.

 

a.
This Agreement may be terminated at any time prior to the Effective Time by written consent of the parties hereto.

 

b.
In the event that 8i fails to receive the approval of the shareholders of 8i at the 8i Meeting (subject to any adjournment or
recess of such special meeting), Singapore NewCo and 8i, at their sole option, shall have the right to terminate this Agreement,
by written notice to the other parties hereto.

 

    	 	6	 

    	 

    

 

14.
Miscellaneous.

 

a.
Entire Agreement. This Agreement, together with the Merger Agreement, sets forth the entire agreement of the parties hereto
with respect to the subject matter hereof and thereof, and there are no restrictions, promises, representations, warranties, covenants
or undertakings with respect to the subject matter hereof or thereof, other than those expressly set forth in this Agreement or
the Merger Agreement. This Agreement supersedes all prior and contemporaneous understandings and agreements related thereto (whether
written or oral), all of which are merged herein.

 

b.
Governing Law. This Agreement shall be construed in accordance with and governed by the laws of the State of New York,
without giving effect to the conflict of laws principles thereof.

 

c.
Severability. A determination by a court or other legal authority of competent jurisdiction that any provision of this
Agreement is legally invalid shall not affect the validity or enforceability of any other provision hereof. The parties hereto
shall cooperate in good faith to substitute (or cause such court or other legal authority to substitute) for any provision so
held to be invalid a valid provision, as alike in substance to such invalid provision as is lawful.

 

d.
Counterparts; Facsimile Signatures. This Agreement may be executed in counterparts, each of which shall constitute an original,
but all of which shall constitute one agreement. This Agreement shall become effective upon delivery to each party hereto an executed
counterpart or the earlier delivery to each party hereto an original, photocopied, or electronically transmitted signature pages
that together (but need not individually) bear the signatures of all other parties.

 

e.
Captions. Captions are not a part of this Agreement, but are included for convenience, only.

 

[Signature
page follows.]

 

    	 	7	 

    	 

    

 

IN
WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of the day and year first above written.

 

	 	8i:
	 	 
	 	8i
    Enterprises Acquisition Corp
	 	 	 
	 	By:	/s/
    James Tan
	 	Name:	James
    Tan
	 	Title:	CEO
	 	 	 
	 	Singapore
    NewCo:
	 	 	 
	 	Digital
    Innovative Limited
	 	 
	 	By:	/s/
    Paul Ewing
	 	Name:
    	Paul
    Ewing
	 	Title:	Director
	 	 	 
	 	BVI
    NewCo:
	 	 	 
	 	DIGITAL
    INNOVATIVE LIMITED 
	 	 
	 	By:	Paul
    Ewing
	 	Name:	Paul
    Ewing
	 	Title:	Director

 

[Signature page to Merger Agreement]

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