Document:

Net 1 UEPS Technologies, Inc.: Exhibit 10.58 - Filed by newsfilecorp.com

Exhibit 10.58 

SENIOR FACILITY C AGREEMENT 

 

DATED 20 OCTOBER, 2016 
AS AMENDED AND RESTATED ON
15 MARCH, 2017 

 

SENIOR TERM LOAN FACILITY 

 

for 

 

NET1 APPLIED TECHNOLOGIES SOUTH AFRICA PROPRIETARY LIMITED

(as borrower) 

 

provided by 

 

 

FIRSTRAND BANK LIMITED 
(ACTING THROUGH ITS RAND
MERCHANT BANK DIVISION) 

 

with 

 

FIRSTRAND BANK LIMITED 
(ACTING THROUGH ITS RAND
MERCHANT BANK DIVISION) 
(as facility agent) 

 

This Agreement is entered into subject to the terms of a Common
Terms Agreement 
dated on or about the date of this Agreement 

Table of Contents 

	Clause
    	 
      	Page
     
	  	  	  	  
	1.
      	Definitions
      and Interpretation 	2
      
	2.
      	The
      Facility 	4
      
	3.
      	Purpose
      	  	4
      
	4.
      	Conditions
      of Utilisation 	5
      
	5.
      	Utilisation
      and Disbursement 	5
      
	6.
      	Repayment
      	6
      
	7.
      	Prepayment
      and Cancellation 	7
      
	8.
      	Interest
      	  	7
      
	9.
      	Interest
      Periods 	8
      
	10.
      	Default
      	  	9
      
	11.
      	General
      	  	9
      
	  	  	  	  
	  	  	  	  
	Schedule
      1 	Repayment
      Schedule 	11
      
	Schedule
      2 	Form
      of Utilisation Request 	12
      

THIS AGREEMENT is dated 20 October, 2016 (as amended and
restated on 15 March, 2017) and made between: 

	(1) 	
      NET1 APPLIED TECHNOLOGIES SOUTH AFRICA PROPRIETARY
      LIMITED, registration number 2002/031446/07, as borrower (the
      Borrower);

	 	 
	(2) 	
      FIRSTRAND BANK LIMITED (acting through its RAND
      MERCHANT BANK division) as original lender (in this capacity, the
      Original Senior Facility C Lender); and

	 	 
	(3) 	
      FIRSTRAND BANK LIMITED (acting through its RAND
      MERCHANT BANK division) as agent of the Senior Facility C Lenders (the
      Facility Agent).

IT IS AGREED as follows: 

	1. 	
      DEFINITIONS AND
INTERPRETATION

	1.1 	
      Definitions

In this Agreement: 

	1.1.1 	
      Applicable Margin means, in relation to any Senior
      Facility C Loan or Unpaid Sum:

	 	(a) 	
      1.35 per cent. per annum, provided that no Event of
      Default has occurred and is continuing; and

	 	 	 
	 	(b) 	
      with effect from the date of occurrence of an Event of
      Default and for so long as it is continuing, the Applicable Margin shall
      be the percentage per annum set out in paragraph (a) above plus 2.00 per
      cent.;

	1.1.2 	
      Availability Period
means:

	 	(a) 	
      if Senior Facility A and Senior Facility B are utilised,
      the period from (and including) the first Senior Facility A Voluntary
      Prepayment Date to (and including) the date which is 3 Months prior to the
      Final Maturity Date; and

	 	 	 
	 	(b) 	
      if Senior Facility A and Senior Facility B are not
      utilised there shall be no Availability Period for Senior Facility
    C;

	1.1.3 	
      Available Commitment means the "Available
      Commitment" (as defined in the Common Terms Agreement) of a Senior
      Facility C Lender in respect of Senior Facility C;

	 	 
	1.1.4 	
      Available Facility means the aggregate, from time
      to time, of the Available Commitment of each Senior Facility C
    Lender;

	 	 
	1.1.5 	
      Break Costs means the amount (if any) determined
      by a Senior Facility C Lender by which:

	 	(a) 	
      the interest (excluding the Applicable Margin) which that
      Senior Facility C Lender should have received for the period from the date
      of receipt of an amount repaid or prepaid in respect of any part of its
      participation in a Senior Facility C Loan or Unpaid Sum to the last day of
      the current Interest Period for that Senior Facility C Loan or Unpaid Sum,
      if the principal amount of that Senior Facility C Loan or Unpaid Sum
      received had been paid on the last day of that Interest
  Period;

exceeds: 

2 

	 	(b) 	
      the amount which that Senior Facility C Lender would be
      able to obtain by placing an amount equal to the principal amount of the
      Senior Facility C Loan or Unpaid Sum received by it on deposit with a
      leading bank in the Johannesburg interbank market for a period starting on
      the Business Day following receipt or recovery and ending on the last day
      of the current Interest Period,

and Break Gains means the
amount (if any) determined by the relevant Senior Facility C Lender by which the
amount of interest contemplated in paragraph (b) above exceeds that in paragraph
(a) above; 

	1.1.6 	
      Common Terms Agreement means the written agreement
      entitled "Common Terms Agreement", dated on or about the Signature Date
      (as amended and/or reinstated from time to time), between, amongst others,
      the Borrower (as borrower), the Original Senior Facility C Lender (as
      lender) and the Facility Agent;

	 	 
	1.1.7 	
      Effective Date has the meaning given to that term
      in the First Amendment and Restatement Agreement;

	 	 
	1.1.8 	
      Final Maturity Date means the same date that is
      determined as the Final Maturity Date under (and as defined in) Senior
      Facility A Agreement;

	 	 
	1.1.9 	
      Interest Payment Date
means:

	 	(a) 	
      the last day of each calendar month in any year;
    and

	 	 	 
	 	(b) 	
      the Final Maturity Date;

	1.1.10 	
      Interest Period means, in relation to a Senior
      Facility C Loan, each period determined in accordance with Clause 9
      (Interest Periods);

	 	 
	1.1.11 	
      Party means a party to this Agreement;

	 	 
	1.1.12 	
      Repayment Date has the meaning given to that term
      in Clause 6.1 (Repayment);

	 	 
	1.1.13 	
      Repayment Instalment means each instalment for
      repayment of a Senior Facility C Loan set out in Clause 6 (Repayment of
      Loans);

	 	 
	1.1.14 	
      Repayment Schedule means the schedule of Repayment
      Instalments in the agreed inserted into this Agreement in accordance with
      Clause 6.1 (Repayment) as Schedule 1 (Repayment Schedule), and as replaced
      from time to time pursuant to Clause 6.4;

	 	 
	1.1.15 	
      Senior Facility A Discharge Date means the date on
      which:

	 	(a) 	
      the Senior Facility A Outstandings have been irrevocably
      and unconditionally finally paid and discharged in full; and

	 	 	 
	 	(b) 	
      no Finance Party has any commitment whatsoever to provide
      finance or any other form of credit or financial accommodation to any
      person under Senior Facility A;

	1.1.16 	
      Senior Facility A Repayment Instalment has the
      meaning given to "Repayment Instalment" in the Senior Facility A
      Agreement;

	 	 
	1.1.17 	
      Senior Facility A Repayment Date has the meaning
      given to "Repayment Date" in the Senior Facility A Agreement;

	 	 
	1.1.18 	
      Senior Facility C or Facility means the
      term loan facility made available to the Borrower under this
    Agreement;

3 

	1.1.19 	
      Senior Facility C Commitment means the "Senior
      Facility C Commitment" as defined in the Common Terms Agreement;

	 	 
	1.1.20 	
      Senior Facility C Loan or Loan means a
      "Senior Facility C Loan" as defined in the Common Terms
  Agreement;

	 	 
	1.1.21 	
      Senior Facility C Outstandings means "Senior
      Facility C Outstandings" as defined in the Common Terms
  Agreement;

	 	 
	1.1.22 	
      Signature Date means the date stated at the
      beginning of this Agreement;

	 	 
	1.1.23 	
      Total Senior Facility C Commitments means "Total
      Senior Facility C Commitments" as defined in the Common Terms
      Agreement;

	 	 
	1.1.24 	
      Unpaid Sum means an "Unpaid Sum" as defined in the
      Common Terms Agreement in respect of Senior Facility C; and

	 	 
	1.1.25 	
      Utilisation Request means the notice substantially
      in the form set out in Schedule 2 (Form of Utilisation
  Request).

	1.2 	
      Construction

	1.2.1 	
      Terms and expressions defined in the Common Terms
      Agreement, unless expressly defined in this Agreement, have the same
      meaning in this Agreement.

	 	 
	1.2.2 	
      The provisions of clauses 1.3 (Construction) and 1.4
      (Third party rights) of the Common Terms Agreement apply to this Agreement
      as though they were set out in full in this Agreement, except that a
      reference in those clauses to the Common Terms Agreement are to be
      construed as references to this Agreement.

	 	 
	1.2.3 	
      This Agreement and the rights and obligations of the
      Parties hereunder shall in all respects be subject to the terms and
      conditions of the Common Terms Agreement, which shall apply mutatis
      mutandis to this Agreement and be incorporated herein by reference. If
      there is any conflict between this Agreement and the Common Terms
      Agreement, this Agreement shall prevail.

	2. 	
      THE FACILITY

	2.1 	
      Senior Facility C

Subject to the terms of this Agreement
and the Common Terms Agreement, the Senior Facility C Lenders make available to
the Borrower a Rand-denominated term loan facility in an aggregate amount equal
to the Total Senior Facility C Commitments in accordance with, and subject to
the provisions of, clause 2.3 (Senior Facility C) of the Common Terms Agreement.

	2.2 	
      Designation

This Agreement is a Senior Facility
Agreement and the Senior Facility C Agreement, each as defined in the Common
Terms Agreement. 

3.            
PURPOSE 

	3.1 	
      The Borrower shall apply all amounts borrowed by it under
      Senior Facility C only in or towards the purposes set out in clause 3
      (Purpose) of the Common Terms Agreement, and for no other purpose
      whatsoever.

	 	 
	3.2 	
      No Finance Party is bound to monitor or verify the
      utilisation of Senior Facility C or will be responsible for, or for the
      consequences of, such a utilisation.

4 

	4. 	
      CONDITIONS OF
UTILISATION

	4.1 	
      Conditions precedent

The Borrower may not deliver a
Utilisation Request to the Facility Agent under Senior Facility C (and no Senior
Facility C Lender shall have any obligation to advance any Senior Facility C
Loan or to provide any other form of credit or financial accommodation under
this Agreement to any person) unless the Facility Agent has issued the notice
contemplated by clause 4.1 (Initial conditions precedent) of the Common Terms
Agreement and clause 2.1 (Effective Date) of the First Amendment and Restatement
Agreement. 

	4.2 	
      Further conditions
precedent

Subject to the Common Terms Agreement
and this Agreement, a Senior Facility C Lender will only be obliged to
participate in a Senior Facility C Loan if the requirements of clause 4.2
(Further conditions precedent) of the Common Terms Agreement have been met. 

	4.3 	
      Maximum number of Loans

The Borrower may not deliver a
Utilisation Request under Senior Facility C if as a result of the proposed
Utilisation more than six Senior Facility C Loans would be outstanding. 

	5. 	
      UTILISATION AND
DISBURSEMENT

	5.1 	
      Delivery of a Utilisation
Request

	5.1.1 	
      The Borrower may utilise Senior Facility C during the
      Availability Period by delivery to the Facility Agent of a duly completed
      Utilisation Request.

	 	 
	5.1.2 	
      Unless the Facility Agent otherwise agrees, the latest
      time for receipt by the Facility Agent of a Utilisation Request is 17h00
      two Business Days before the proposed Utilisation Date.

	 	 
	5.1.3 	
      The Utilisation Request is
irrevocable.

	5.2 	
      Completion of a Utilisation
  Request

	5.2.1 	
      A Utilisation Request will not be regarded as having been
      duly completed unless:

	 	(a) 	
      the Utilisation Request is delivered not less than 2
      Business Days after the Senior Facility A Voluntary Prepayment Date giving
      rise to the Available Commitments proposed to be utilised (in whole or in
      part) pursuant to such Utilisation Request;

	 	 	 
	 	(b) 	
      the proposed Utilisation Date is a Business Day within
      the Availability Period;

	 	 	 
	 	(c) 	
      the currency and amount of the Utilisation comply with
      Clause 5.3 below; and

	 	 	 
	 	(d) 	
      it specifies a bank account in South Africa to which the
      Borrower requires the proceeds of the Senior Facility C Loan to be made to
      it to be credited.

	5.2.2 	
      Only one Senior Facility C Loan may be requested in a
      Utilisation Request.

5 

	5.3 	
      Currency and amount

	5.3.1 	
      The currency specified in the Utilisation Request must be
      Rand.

	 	 
	5.3.2 	
      The amount of the proposed Senior Facility C Loan must be
      a minimum of R25,000,000 or, if less, the Available
  Facility.

	5.4 	
      Disbursement

	5.4.1 	
      If the conditions set out in this Agreement and the
      Common Terms Agreement have been met, each Senior Facility C Lender must
      advance and lend to the Borrower, who shall borrow from each such Lender,
      that Lender's participation in the relevant Senior Facility C Loan on the
      relevant Utilisation Date. A Senior Facility C Lender must make its
      participation in the relevant Senior Facility C Loan available to the
      Facility Agent for disbursement to the Borrower.

	 	 
	5.4.2 	
      The amount of each Senior Facility C Lender's
      participation in a Senior Facility C Loan will be equal to the proportion
      borne by its Available Commitment (if any) to the Available Facility
      immediately prior to making that Loan.

	 	 
	5.4.3 	
      No Senior Facility C Lender is obliged to participate in
      a Senior Facility C Loan if, as a result:

	 	(a) 	
      its share in the outstanding Senior Facility C Loans
      would exceed its Available Commitment; or

	 	 	 
	 	(b) 	
      the outstanding Senior Facility C Loans would exceed the
      Available Facility.

	5.5 	
      Automatic cancellation of
  Commitments

The Senior Facility C Commitments
which, at that time, are unutilised, and in respect of which no Utilisation
Request has been delivered, shall be immediately cancelled at 10h00 on the last
day of the Availability Period. 

	6. 	
      REPAYMENT

	6.1 	
      If the Senior Facility A Discharge Date arises on a
      Senior Facility A Repayment Date and only a portion of the relevant Senior
      Facility A Repayment Instalment applied on that date was utilised to
      discharge Senior Facility A (the unused balance of such Senior Facility A
      Repayment Instalment referred to as the Unused Portion), the
      Borrower shall repay, on the Senior Facility A Discharge Date, any
      outstanding Senior Facility C Loans in an amount equal to the Unused
      Portion and, if on such date no further Facility C Loans are outstanding,
      the Senior Facility C Commitments of the Senior Facility C Lenders shall
      be cancelled rateably in an amount equal to the Unused Portion.

	 	 
	6.2 	
      Following the Senior Facility A Discharge Date, the
      Facility Agent shall as soon as reasonably possible prepare a Repayment
      Schedule in relation to Senior Facility C as at that date, which will
      include consecutive instalments (each a Repayment Instalment) equal
      to the aggregate amount of the Senior Facility A Repayment Instalments
      that were not applied (including part of any such instalment not applied)
      in repayment of Senior Facility A as a result of the Senior Facility A
      Discharge Date arising, to be paid by the Borrower on the same dates (each
      a Repayment Date) as the scheduled Senior Facility A Repayment
      Dates in respect of which Senior Facility A Repayment Instalments were not
      (whether in full or in part) so applied. The Facility Agent, by notice to
      the Borrower, shall be entitled to include a table in Schedule 1
      (Repayment Schedule) to that effect.

	 	 
	6.3 	
      The Borrower shall repay the Senior Facility C Loans made
      to it in full in consecutive instalments on each Repayment Date in the
      amount of each Repayment Instalment specified in the Repayment Schedule
      (subject to Clauses 7 (Prepayment and Cancellation) and 10
    (Default)).

6 

	6.4 	
      If pursuant to an unscheduled payment, repayment or
      prepayment made in respect of the Senior Facility C Loan (under this
      Agreement read with the Common Terms Agreement), the amount of the
      outstanding Repayment Instalments at that time are to be reduced, the
      Facility Agent shall be entitled to recalculate the amount of the
      Repayment Instalments and replace the table set out in Schedule 1
      (Repayment Schedule) by notice to the Borrower.

	 	 
	6.5 	
      Any amount which remains outstanding under Senior
      Facility C on the Final Maturity Date shall be repaid in full on that
      date.

	 	 
	6.6 	
      No amount of a Senior Facility C Loan repaid under this
      Clause 6 may be re-borrowed.

	7. 	
      PREPAYMENT AND
CANCELLATION

	7.1 	
      Voluntary cancellation

	7.1.1 	
      The Borrower may cancel the undrawn amount of the Senior
      Facility C Commitments in accordance with the requirements (and subject to
      the terms) of clause 10 (Prepayment and Cancellation) of the Common Terms
      Agreement.

	 	 
	7.1.2 	
      No amount of the Senior Facility C Commitments cancelled
      pursuant to this Clause may be reinstated.

	7.2 	
      Voluntary prepayment

	7.2.1 	
      The Borrower may make voluntary prepayments in respect of
      the Senior Facility C Loan made to it, in whole or in part, in accordance
      with the requirements (and subject to the terms) of clause 10 (Prepayment
      and Cancellation) of the Common Terms Agreement.

	 	 
	7.2.2 	
      No amount of a Senior Facility C Loan prepaid pursuant to
      this Clause may be re- borrowed.

	7.3 	
      Mandatory prepayment and prepayment
  offers

The Borrower shall be obliged to make
mandatory prepayments and/or offers to make prepayments (as applicable) in
respect of the Senior Facility C Loan made to it to the Senior Facility C
Lenders in accordance with the requirements (and subject to the terms) of
clauses 10 (Prepayment and Cancellation) and 11 (Prepayment Offers and
Priorities) of the Common Terms Agreement. 

	8. 	
      INTEREST

	8.1 	
      Calculation of interest

The rate of interest on each Senior
Facility C Loan (and any Unpaid Sum) for each Interest Period is the percentage
rate per annum which is the aggregate of: 

	8.1.1 	
      the Applicable Margin; and

	 	 
	8.1.2 	
      the Base Rate.

7 

	8.2 	
      Payment of interest

The Borrower shall pay all accrued
interest on the Senior Facility C Loan made to it on each Interest Payment Date,
in accordance with the requirements of clause 33 (Payment Mechanics) of the
Common Terms Agreement. 

	8.3 	
      Interest on overdue
amounts

	8.3.1 	
      Any interest accruing on an Unpaid Sum shall be
      immediately payable by the Borrower on demand by the Facility
  Agent.

	 	 
	8.3.2 	
      Default interest (if unpaid) arising on any Unpaid Sum
      will be compounded with that Unpaid Sum on the last day of each calendar
      month, but will remain immediately due and
payable.

	8.4 	
      Notification of rates of
interest

Without prejudice to the obligation of
the Borrower to pay interest calculated at any applicable rate under this Clause
8, the Facility Agent shall notify the Senior Facility C Lenders and the
Borrower, as soon as reasonably practicable: 

	8.4.1 	
      of the determination of a rate of interest under this
      Agreement;

	 	 
	8.4.2 	
      when interest commences to accrue at the rate calculated
      by reference to the Applicable Margin specified in Clause 1.1.1(b)
      (Definitions).

	9. 	
      INTEREST PERIODS

	9.1 	
      Duration

Each Senior Facility C Loan has
successive Interest Periods: 

	9.1.1 	
      commencing on (and including) the Utilisation Date (in
      respect of the first Interest Period for that Senior Facility C Loan) or
      commencing on (and including) an Interest Payment Date; and

	 	 
	9.1.2 	
      ending on (but excluding) the next Interest Payment
      Date.

	9.2 	
      Interest Periods for Unpaid
Sums

Interest accruing on an Unpaid Sum
shall be calculated as if that Unpaid Sum, during the period of non-payment,
constituted a Loan under Senior Facility C for successive Interest Periods, each
of a duration selected by the Facility Agent (acting reasonably). For this
purpose, the Facility Agent (acting reasonably) may: 

	9.2.1 	
      select successive Interest Periods of any duration of up
      to three months; and

	 	 
	9.2.2 	
      determine the appropriate Quotation Day for that Interest
      Period.

If any Unpaid Sum consists of all or
part of the Senior Facility C Loan which became due on a day which was not the
last day of an Interest Period relating to that Senior Facility C Loan, the
first Interest Period for that Unpaid Sum shall have a duration equal to the
unexpired portion of the current Interest Period relating to the Senior Facility
C Loan. 

	9.3 	
      Consolidation of Loans

On each Interest Payment Date, all
Senior Facility C Loans utilised by the Borrower under this Facility that remain
outstanding will be consolidated and treated as a single Senior Facility Loan
outstanding and owing by the Borrower under this Facility. 

8 

	9.4 	
      No overrunning the Final Maturity
  Date

If an Interest Period for a Senior
Facility C Loan would otherwise extend beyond the Final Maturity Date, it will
be shortened so that it ends on the Final Maturity Date. This Clause does not
apply to Interest Periods selected under Clause 9.2 above in respect of Unpaid
Sums which remain outstanding on the Final Maturity Date. 

	9.5 	
      Non-Business Days

If an Interest Payment Date would
otherwise occur on a day which is not a Business Day, that Interest Payment Date
will instead be the next Business Day in the same calendar month (if there is
one) or the preceding Business Day (if there is not). 

	10. 	
      DEFAULT

If an Event of Default occurs, and for
so long as it is continuing, the Facility Agent may enforce any of the rights
and remedies provided for in clause 26.15 (Acceleration) of the Common Terms
Agreement. 

	11. 	
      GENERAL

	11.1 	
      Notices and domicilium

All documents in legal proceedings and
notices in connection with this Agreement shall be served in accordance with
clause 36 (Notices) of the Common Terms Agreement, which clause is incorporated
by reference in this Agreement as if repeated in this Agreement in full (except
that references in that clause to the Common Terms Agreement are to be construed
as references to this Agreement). 

	11.2 	
      Incorporation of by
reference

The provisions clauses 20 (Costs and
Expenses), 37 (Amendments and Waivers), 39 (General Provisions) and 43 (Waiver
of Immunity) of the Common Terms Agreement apply to this Agreement as though
they were set out in full in this Agreement (except that references in those
clauses to the Common Terms Agreement are to be construed as references to this
Agreement). 

	11.3 	
      Governing Law

This Agreement and any non-contractual
obligations arising out of or in connection with it are governed by South
African law. 

	11.4 	
      Jurisdiction

	11.4.1 	
      The Parties hereby irrevocably and unconditionally
      consent to the non-exclusive jurisdiction of the High Court of South
      Africa (Gauteng Local Division, Johannesburg) (or any successor to that
      division) in regard to all matters arising from the this Agreement
      (including a dispute relating to the existence, validity or termination of
      this Agreement or any non-contractual obligation arising out of or in
      connection with this Agreement) (a dispute).

	 	 
	11.4.2 	
      The Parties agree that the High Court of South Africa is
      the most appropriate and convenient court to settle disputes. The Parties
      agree not to argue to the contrary  and waive objection to this court
      on the grounds of inconvenient forum or otherwise in relation to
      proceedings in connection with this Agreement.

9 

	11.4.3 	
      This Clause 11.4 is for the benefit of the Finance
      Parties only. As a result, no Finance Party shall be prevented from taking
      proceedings relating to a dispute in any other court with jurisdiction. To
      the extent allowed by law, a Finance Party may take concurrent proceedings
      in any number of jurisdictions.

	11.5 	
      Counterparts

This Agreement may be executed in any
number of counterparts, and this has the same effect as if the signatures on the
counterparts were on a single copy of this Agreement. 

THIS AGREEMENT has been entered into on the date stated
at the beginning of this Agreement. 

10 

SCHEDULE 1 

REPAYMENT SCHEDULE 

[To be included at the appropriate time pursuant to Clause 6.2
(Repayment)] 

11 

SCHEDULE 2 

FORM OF UTILISATION REQUEST 

To:              
FIRSTRAND BANK LIMITED (acting through its RAND MERCHANT BANK division)

                    
as Facility Agent 

From:          
NET1 APPLIED TECHNOLOGIES SOUTH AFRICA PROPRIETARY LIMITED

[ • ], [ • ] 

Dear Sirs, 

NET1 APPLIED TECHNOLOGIES SOUTH AFRICA PROPRIETARY LIMITED

Senior Facility C Agreement, dated [ ], 2016 (as amended and restated on
[ • ], 2017) 
(the Agreement) 

	1. 	
      We refer to the Agreement. This is the Utilisation
      Request. Terms defined in the Agreement have the same meaning in this
      Utilisation Request unless given a different meaning in this Utilisation
      Request.

	 	 
	2. 	
      We wish to borrow a Senior Facility C Loan on the
      following terms:

	 	Proposed Utilisation Date: 	[ • ] (or, if that is not a Business Day,
      the next 
	 	  	Business Day) 
	 	  	  
	 	Amount: 	R[ • ] or, if less, the Available
      Facility 

	3. 	
      We confirm that each condition specified in Clause 4.2
      (Further conditions precedent) of the Agreement is satisfied on the date
      of this Utilisation Request.

	 	 
	4. 	
      The proceeds of this Loan must be credited to
      [account].

	 	 
	5. 	
      This Utilisation Request is
irrevocable.

Yours faithfully, 

........................................................

authorised signatory for 

NET1 APPLIED TECHNOLOGIES SOUTH AFRICA PROPRIETARY
LIMITED

12Exhibit
10.1

 

SECURITIES
PURCHASE AGREEMENT

 

This Securities Purchase
Agreement (this “Agreement”) is dated as of March 20, 2017 (the “Effective Date”) between
SGOCO Group, Ltd., a company organized under the laws of the Cayman Islands (the “Company”), and the undersigned
investor (“Purchaser”).

 

 

 RECITALS

 

WHEREAS, Purchaser
is an individual who has no relationship with the Company or any officers or directors of the Company;

 

WHEREAS, subject
to the terms and conditions set forth in this Agreement and pursuant to an effective Form F-3 registration statement (Registration
Number 333-214141), as amended, under the Securities Act of 1933, as amended (the “Securities Act”), the Company
desires to issue and sell to Purchaser, and Purchaser desires to purchase from the Company, certain securities of the Company as
more fully described in this Agreement.

 

NOW, THEREFORE,
IN CONSIDERATION of the mutual covenants contained in this Agreement, and for other good and valuable consideration the receipt
and adequacy of which are hereby acknowledged, the Company and Purchaser agree as follows:

 

ARTICLE I.

DEFINITIONS

 

1.1                                  
Definitions. In addition to the terms defined elsewhere in this Agreement, the following terms have the meanings
set forth in this Section 1.1:

 

“Affiliate”
means any Person that, directly or indirectly through one or more intermediaries, controls or is controlled by or is under common
control with a Person as such terms are used in, and construed, under Rule 405 under the Securities Act.

 

“Board
of Directors” means the board of directors of the Company.

 

“Business
Day” means any day except any Saturday, any Sunday, any day which is a federal legal holiday in the United States or
any day on which banking institutions in the State of New York are authorized or required by law or other governmental action to
close.

 

“Closing”
means the closing of the purchase and sale of the Shares pursuant to Section 2.1.

 

“Closing
Date” means a date mutually agreed upon by the parties hereto in writing, on which all of the Transaction Documents have
been executed and delivered by the applicable parties thereto, and all conditions precedent to (i) Purchaser’s obligations
to pay the Subscription Amount and (ii) the Company’s obligations to deliver the Shares, in each case, have been satisfied
or waived, but in no event later than April 20, 2017.

 

    1 

     

    

 

“Commission”
means the United States Securities and Exchange Commission.

 

“Common
Stock” means the ordinary shares of the Company, par value $0.004 per share.

 

“DWAC”
shall have the meaning ascribed to such term in Section 2.2(a)(ii).

 

“Exchange
Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

 

“Exchange
Rules” shall mean the listing rules of The Nasdaq Stock Exchange Inc.

 

“430B
Information” means information included in a prospectus then deemed to be a part of the Registration Statement pursuant
to Rule 430B(e) or retroactively deemed to be a part of the Registration Statement pursuant to Rule 430B(f).

 

“430C
Information” means information included in a prospectus then deemed to be a part of the Registration Statement pursuant
to Rule 430C.

 

“Liens”
means a lien, charge, pledge, security interest, encumbrance, right of first refusal, preemptive right or other restriction.

 

“Per
Share Purchase Price” equals $2.04 per share of Common Stock, subject to adjustment for reverse and forward stock splits,
stock combinations and other similar transactions of the Common Stock that may occur after the date of this Agreement.

 

“Person”
means an individual, corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited liability
company, joint stock company, government (or an agency or subdivision thereof) or other entity of any kind.

 

“Proceeding”
means an action, claim, suit, investigation or proceeding (including, without limitation, an informal investigation or partial
proceeding, such as a deposition), whether commenced or threatened.

 

“Prospectus”
shall have the meaning ascribed to such term in Section 3.1(a).

 

“Registration
Statement” means the effective registration statement with Commission file No. 333-214141, as amended, which registers
the sale of the Shares to Purchaser.

 

“Required
Approvals” shall have the meaning ascribed to such term in Section 3.1(c).

 

“Rule
144” means Rule 144 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended or interpreted
from time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same purpose
and effect as such Rule.

 

“Rule
424” means Rule 424 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended or interpreted
from time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same purpose
and effect as such Rule.

 

    2 

     

    

 

“Rules
and Regulations” means the rules and regulations of the Commission.

 

“SEC
Reports” shall have the meaning ascribed to such term in Section 3.1(f).

 

“Securities
Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

 

“Securities
Laws” means, collectively, the Sarbanes-Oxley Act of 2002, as amended (“Sarbanes-Oxley”), the Securities
Act, the Exchange Act, the Rules and Regulations, the auditing principles, rules, standards and practices applicable to auditors
of “issuers” (as defined in Sarbanes-Oxley) promulgated or approved by the Public Company Accounting Oversight Board,
the Exchange Rules and applicable state securities laws and regulations.

 

“Shares”
means 117,361 shares of Common Stock to be issued to Purchaser pursuant to this Agreement (the “Shares”).

 

“Short
Sales” means all “short sales” as defined in Rule 200 of Regulation SHO under the Exchange Act (but shall
not be deemed to include the location and/or reservation of borrowable shares of Common Stock).

 

“Subscription
Amount” means, as to Purchaser, the aggregate amount of $239,417 to be paid for the Shares purchased at the Per Share
Purchase Price in United States dollars and in immediately available funds.

 

“Subsidiary”
means any subsidiary of the Company and shall, where applicable, also include any direct or indirect subsidiary of the Company
formed or acquired after the date hereof.

 

“Trading
Day” means a day on which the principal Trading Market is open for trading.

 

“Trading
Market” means any of the following markets or exchanges on which the Common Stock is listed or quoted for trading on
the date in question: the NYSE MKT, the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select Market, the New
York Stock Exchange or the OTCQB (or any successors to any of the foregoing).

 

“Transaction
Documents” means this Agreement, and any other documents or agreements executed between the Company and Purchaser in
connection with the transactions contemplated hereunder.

 

ARTICLE II.

PURCHASE AND SALE

 

2.1          
Closing. On the Closing Date, on the basis of the representations, warranties and agreements contained herein and
subject to the terms and conditions set forth herein, the Company agrees to sell, and Purchaser agrees to purchase, from the Company
the Shares for the Per Share Purchase Price. Purchaser shall deliver to the Company, via wire transfer, immediately available funds
equal to Purchaser’s Subscription Amount and the Company shall deliver to Purchaser the Shares as determined pursuant to
Section 2.2(a), and the Company and Purchaser shall deliver the other items set forth in Section 2.2 deliverable at the Closing.

 

    3 

     

    

 

2.2          
Deliveries.

 

(a)            
On or prior to the Closing Date, the Company shall deliver or cause to be delivered to Purchaser each of the following:

 

(i)                
this Agreement duly executed by the Company;

 

(ii)              
a copy of the irrevocable instructions to the transfer agent of the Company (the “Transfer Agent”) instructing
the Transfer Agent to issue stock certificate for the Shares or deliver via The Depository Trust Company Deposit or Withdrawal
at Custodian system (“DWAC”) the number of Shares.

 

(b)           
On or prior to the Closing Date, Purchaser shall deliver or cause to be delivered to the Company, as applicable, the following:

 

(i)                
this Agreement duly executed by Purchaser; and

 

(ii)              
Purchaser’s Subscription Amount by wire transfer to the bank account directed by the Company.

 

2.3          
Closing Conditions.

 

(a)       The
obligations of the Company hereunder to sell the Shares to Purchaser at the Closing are subject to the following conditions being
met:

 

(i)                
the accuracy when made and on the Closing Date of the representations and warranties of Purchaser contained herein (unless
as of a specific date therein in which case they shall be accurate as of such date);

 

(ii)              
all obligations, covenants and agreements of Purchaser required to be performed at or prior to the Closing Date shall have
been performed; and

  

(iii)            
the delivery by Purchaser of the items set forth in Section 2.2(b) of this Agreement on or prior to the Closing Date.

 

(b)           
The obligations of Purchaser hereunder to purchase the Shares from the Company at the Closing are subject to the following
conditions being met:

 

(i)              
the accuracy when made and on the Closing Date of the representations and warranties of the Company contained herein (unless
as of a specific date therein in which case they will be accurate as of such date);

 

(ii)              
all obligations, covenants and agreements of the Company required to be performed at or prior to the Closing Date shall
have been performed;

 

    4 

     

    

 

(iii)            
the delivery by the Company of the items set forth in Section 2.2(a) of this Agreement on or prior to the Closing Date;
and

 

(iv)             there shall have been no material adverse effect with respect to the Company since the date hereof.

 

ARTICLE III.

REPRESENTATIONS AND WARRANTIES

 

3.1          
Representations and Warranties of the Company. Except as indicated in the SEC Reports, the Company hereby represents
and warrants to Purchaser as of the date of this Agreement and as of the Closing Date as follows:

 

(a)       Organization
and Qualification. The Company and each of the Subsidiaries is an entity duly incorporated or otherwise organized and validly
existing under the laws of each jurisdiction in which it owns or leases properties or conducts any business so as to require such
qualification, with the requisite power and authority to own and use its properties and assets and to carry on its business as
currently conducted as described in the final supplemental form of prospectus (including the base prospectus as so supplemented),
in the form filed, or to be filed, as the case may be, with the Commission pursuant to Rule 424(b) under the Securities Act (the
“Prospectus”).

 

(b)       Authorization;
Enforcement. The Company has the requisite corporate power and authority to enter into and to consummate the transactions contemplated
by this Agreement and each of the other Transaction Documents and otherwise to carry out its obligations hereunder and thereunder.
The execution and delivery of this Agreement and each of the other Transaction Documents by the Company and the consummation by
it of the transactions contemplated hereby and thereby have been duly authorized by all necessary action on the part of the Company
and no further action is required by the Company, the Board of Directors or the Company’s stockholders in connection herewith
or therewith other than in connection with the Required Approvals (as defined below).

 

(c)       Filings,
Consents and Approvals. The Company is not required to obtain any consent, waiver, authorization or order of, give any notice
to, or make any filing or registration with, any Governmental Authority or any court or other federal, state, local or other governmental
authority or other Person in connection with the execution, delivery and performance by the Company of the Transaction Documents
or the offer, issue and sale of the Shares, other than: (i) the disclosure filing required for this Agreement, (ii) the filing
with the Commission of the Prospectus, (iii) application(s) to each applicable Trading Market for the listing of the Shares for
trading thereon in the time and manner required thereby, (iv) such filings as are required to be made under applicable state securities
laws, and (v) such consents, waivers and authorizations that shall be obtained prior to the Closing (collectively, the “Required
Approvals”).

 

(d)       Authorization
of the Shares; Registration. The Shares to be sold by the Company and their issue and sale are duly authorized and, when issued
and paid for in accordance with the applicable Transaction Documents, will be duly and validly issued, fully paid and free and
clear of all Liens imposed by the Company.

 

    5 

     

    

 

(e)       Capitalization.
All of the issued share capital of the Company has been duly and validly authorized and issued, is fully paid and conforms to the
description of the Common Stock contained in the Prospectus.

 

(f)       SEC
Reports. The Company has filed all reports, schedules, forms, statements and other documents required to be filed by the Company
under the Securities Act and the Exchange Act, including pursuant to Section 13(a) or 15(d) thereof, for the two years preceding
the date hereof (or such shorter period as the Company was required by law or regulation to file such material) (the foregoing
materials, including the exhibits thereto, documents incorporated by reference therein, being collectively referred to herein as
the “SEC Reports”) on a timely basis or has received a valid extension of such time of filing and has filed
any such SEC Reports prior to the expiration of any such extension.

 

(g)       Investment
Company. The Company is not, and is not an Affiliate of, and immediately after receipt of payment for the Shares, will not
be or be an Affiliate of, an “investment company” within the meaning of the Investment Company Act of 1940, as amended.

 

(h)       No
Broker. The Company has not employed any broker, finder or agent, nor become obligated in any way to pay any broker’s,
finder’s or agent’s or similar fee with respect to the purchase and sale of the Shares.

 

3.2          
Representations and Warranties of Purchaser. Purchaser, for itself and for no other purchaser, hereby represents
and warrants as of the date hereof and as of the Closing Date to the Company as follows:

 

(a)  
Organization; Authority. Purchaser is either an individual or an entity duly incorporated or formed, validly existing
and in good standing under the laws of the jurisdiction of its incorporation or formation with full right, corporate, partnership,
limited liability company or similar power and authority to enter into and to consummate the transactions contemplated by this
Agreement and otherwise to carry out its obligations hereunder and thereunder. The execution and delivery of this Agreement and
the Transaction Documents and performance by Purchaser of the transactions contemplated by this Agreement have been duly authorized
by all necessary corporate, partnership, limited liability company or similar action, as applicable.

 

(b) 
Understandings or Arrangements. Purchaser is acquiring the Shares for its own account and has no direct or indirect
arrangement or understandings with any other persons to distribute or regarding the distribution of the Shares (this representation
and warranty not limiting Purchaser’s right to sell the Shares pursuant to the Registration Statement or otherwise in compliance
with applicable federal and state securities laws). Purchaser is acquiring the Shares as principal, not as nominee or agent, and
not with a view to or for distributing or reselling the Shares or any part thereof in violation of the Securities Act or any applicable
state securities law.

 

(c)  
Foreign Investors. Purchaser hereby represents that it has satisfied itself as
to the full observance by Purchaser of the laws of its jurisdiction applicable to Purchaser
in connection with the purchase of the Shares or the execution and delivery by Purchaser of this Agreement and the Transaction
Documents, including (i) the legal requirements within its jurisdiction for the purchase of the Shares, (ii) any foreign
exchange restrictions applicable to the purchase, (iii) any governmental or other consents that may need to be obtained, and
(iv) the income tax and other tax consequences, if any, that may be relevant to Purchaser’s
purchase, holding, redemption, sale, or transfer of the Shares. Purchaser’s subscription
and payment for, and continued beneficial ownership of, the Shares will not violate any securities or other laws of Purchaser’s
jurisdiction applicable to Purchaser.

 

    6 

     

    

 

(d) 
Experience of Purchaser. Purchaser, either alone or together with its representatives, has such knowledge, sophistication
and experience in business and financial matters so as to be capable of evaluating the merits and risks of the prospective investment
in the Shares, and has so evaluated the merits and risks of such investment. Purchaser is able to bear the economic risk of an
investment in the Shares and, at the present time, is able to afford a complete loss of such investment.

 

(e)  
Access to Information. Purchaser acknowledges that it has had the opportunity to review the Transaction Documents
and the Prospectus and has been afforded, (i) the opportunity to ask such questions as it has deemed necessary of, and to receive
answers from, representatives of the Company concerning the terms and conditions of the offering of the Shares and the merits and
risks of investing in the Shares; (ii) access to information about the Company and its financial condition, results of operations,
business, properties, management and prospects sufficient to enable it to evaluate its investment; and (iii) the opportunity to
obtain such additional information that the Company possesses or can acquire without unreasonable effort or expense that is necessary
to make an informed investment decision with respect to the investment. 

 

(f)  
Certain Transactions and Confidentiality. Other than consummating the transactions contemplated hereunder, Purchaser
has not, nor has any Person acting on behalf of or pursuant to any understanding with Purchaser, directly or indirectly executed
any purchases or sales, including Short Sales, of the securities of the Company during the period commencing as of the time
that Purchaser first discussed the transaction with the Company or any other Person representing the Company setting forth the
material terms of the transactions contemplated hereunder and ending on the Closing of the transaction contemplated by this Agreement.
Other than to other party to this Agreement, Purchaser has maintained the confidentiality of all disclosures made to it in connection
with this transaction (including the existence and terms of this transaction).

 

(g) 
No General Solicitation. Purchaser is not purchasing the Shares as a result of the Registration Statement or any
advertisement, article, notice or other communication regarding the Shares published in any newspaper, magazine or similar media
or broadcast over television or radio or presented at any seminar or any other general solicitation or general advertisement.

 

(j)       Brokers
or Finders.  Purchaser has not engaged any brokers, finders or agents, and the Company has not, nor will, incur, directly
or indirectly, as a result of any action taken by Purchaser, any liability for brokerage or finders’ fees or agents’
commissions or any similar charges in connection with this Agreement.

 

    7 

     

    

 

ARTICLE IV.

OTHER AGREEMENTS OF THE PARTIES

 

4.1                    Reservation of Securities. As of the date hereof, the Company has reserved and the Company shall continue to reserve
and keep available at all times, free of preemptive rights, a sufficient number of shares of Common Stock for issuance pursuant
to the Transaction Documents in such amount as may then be required to fulfill its obligations in full under the Transaction Documents.

 

4.2                   
Certain Transactions and Confidentiality. Purchaser covenants that neither it nor any Affiliate acting on its behalf
or pursuant to any understanding with it will execute any purchases or sales, including Short Sales of any of the Company’s
securities during the period commencing with the execution of this Agreement and ending at the Closing of the transaction contemplated
by this Agreement.  Purchaser also covenants that until such time as the transactions
contemplated by this Agreement are publicly disclosed by the Company pursuant to the initial press release, Purchaser will maintain
the confidentiality of the existence and terms of this transaction.

 

ARTICLE V.

MISCELLANEOUS

 

5.1                
Termination.  This Agreement may be terminated by either party by written notice to the other party if the Closing
has not been consummated on or before April 20, 2017; provided, however, that no such termination will affect the
right of any party to sue for any breach by any other party (or parties).

 

5.2                
Fees and Expenses. Except as expressly set forth in the Transaction Documents to the contrary, each party shall pay
the fees and expenses of its advisers, counsel, accountants and other experts, if any, and all other expenses incurred by such
party incident to the negotiation, preparation, execution, delivery and performance of this Agreement.

 

5.3                
Entire Agreement. The Transaction Documents, together with the exhibits and the Prospectus, contain the entire understanding
of the parties with respect to the subject matter hereof and thereof and supersede all prior agreements and understandings, oral
or written, with respect to such matters, which the parties acknowledge have been merged into such documents, exhibits and schedules.

 

5.4                
Notices. Any and all notices or other communications or deliveries required or permitted to be provided hereunder
shall be in writing and shall be deemed given and effective on the earliest of: (a) the date of transmission, if such notice or
communication is delivered via facsimile at or prior to 5:30 p.m. (New York City time) on a Trading Day, (b) the next Trading Day
after the date of transmission, if such notice or communication is delivered via facsimile on a day that is not a Trading Day or
later than 5:30 p.m. (New York City time) on any Trading Day, (c) the second (2nd) Trading Day following the date of mailing, if
sent by U.S. nationally recognized overnight courier service or (d) upon actual receipt by the party to whom such notice is required
to be given. The address for such notices and communications shall be as set forth on the signature pages attached hereto.

 

    8 

     

    

 

5.5                
Amendments; Waivers. No provision of this Agreement may be waived, modified, supplemented or amended except in a
written instrument signed, in the case of an amendment, by the Company and Purchaser, in the case of a waiver, by the party against
whom enforcement of any such waived provision is sought. No waiver of any default with respect to any provision, condition or requirement
of this Agreement shall be deemed to be a continuing waiver in the future or a waiver of any subsequent default or a waiver of
any other provision, condition or requirement hereof, nor shall any delay or omission of any party to exercise any right hereunder
in any manner impair the exercise of any such right.

 

5.6                
Headings. The headings herein are for convenience only, do not constitute a part of this Agreement and shall not
be deemed to limit or affect any of the provisions hereof.

 

5.7                
Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties and their successors
and permitted assigns. Neither party may assign this Agreement or any rights or obligations hereunder without the prior written
consent of the other party.

 

5.8                
No Third-Party Beneficiaries. This Agreement is intended for the benefit of the parties hereto and their respective
successors and permitted assigns and is not for the benefit of, nor may any provision hereof be enforced by, any other Person,
except as otherwise set forth in this Section 5.8.

 

5.9                
Governing Law. All questions concerning the construction, validity, enforcement and interpretation of the Transaction
Documents shall be governed by and construed and enforced in accordance with the internal laws of the State of New York, without
regard to the principles of conflicts of law thereof. Each party agrees that all legal proceedings concerning the interpretations,
enforcement and defense of the transactions contemplated by this Agreement and any other Transaction Documents (whether brought
against a party hereto or its respective affiliates, directors, officers, shareholders, partners, members, employees or agents)
shall be commenced exclusively in the state and federal courts sitting in the City of New York. Each party hereby irrevocably submits
to the exclusive jurisdiction of the state and federal courts sitting in the City of New York, Borough of Manhattan for the adjudication
of any dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein (including with
respect to the enforcement of any of the Transaction Documents), and hereby irrevocably waives, and agrees not to assert in any
suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of any such court, that such suit,
action or proceeding is improper or is an inconvenient venue for such proceeding. Each party hereby irrevocably waives personal
service of process and consents to process being served in any such suit, action or proceeding by mailing a copy thereof via registered
or certified mail or overnight delivery (with evidence of delivery) to such party at the address in effect for notices to it under
this Agreement and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing
contained herein shall be deemed to limit in any way any right to serve process in any other manner permitted by law. If either
party shall commence an action, suit or proceeding to enforce any provisions of the Transaction Documents, the prevailing party
in such action, suit or proceeding shall be reimbursed by the other party for its reasonable attorneys’ fees and other costs
and expenses incurred with the investigation, preparation and prosecution of such action or proceeding.

 

    9 

     

    

 

5.10             Survival. The representations and warranties contained herein shall survive the Closing and the delivery of the Shares.
The terms of this Article V shall survive any termination of the Agreement pursuant to Section 5.1.

 

5.11            
Execution. This Agreement may be executed in two or more counterparts, all of which when taken together shall be
considered one and the same agreement and shall become effective when counterparts have been signed by each party and delivered
to each other party, it being understood that the parties need not sign the same counterpart. In the event that any signature is
delivered by facsimile transmission or by e-mail delivery of a “.pdf” format data file, such signature shall create
a valid and binding obligation of the party executing (or on whose behalf such signature is executed) with the same force and effect
as if such facsimile or “.pdf” signature page were an original thereof.

 

5.12            
Severability. If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction
to be invalid, illegal, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein
shall remain in full force and effect and shall in no way be affected, impaired or invalidated, and the parties hereto shall use
their commercially reasonable efforts to find and employ an alternative means to achieve the same or substantially the same result
as that contemplated by such term, provision, covenant or restriction. It is hereby stipulated and declared to be the intention
of the parties that they would have executed the remaining terms, provisions, covenants and restrictions without including any
of such that may be hereafter declared invalid, illegal, void or unenforceable.

 

5.13            
Remedies. In addition to being entitled to exercise all rights provided herein or granted by law, including recovery
of damages, Purchaser and the Company will be entitled to specific performance under the Transaction Documents. The parties agree
that monetary damages may not be adequate compensation for any loss incurred by reason of any breach of obligations contained in
the Transaction Documents and hereby agree to waive and not to assert in any action for specific performance of any such obligation
the defense that a remedy at law would be adequate.

 

5.14            
Saturdays, Sundays, Holidays, etc. If the last or appointed day for the taking of any action or the expiration
of any right required or granted herein shall not be a Business Day, then such action may be taken or such right may be exercised
on the next succeeding Business Day.

 

5.15            
Construction. The parties agree that each of them and/or their respective counsel have reviewed and had an opportunity
to revise the Transaction Documents and, therefore, the normal rule of construction to the effect that any ambiguities are to be
resolved against the drafting party shall not be employed in the interpretation of the Transaction Documents or any amendments
thereto. In addition, each and every reference to share prices and shares of Common Stock in any Transaction Document shall be
subject to adjustment for reverse and forward stock splits, stock combinations and other similar transactions of the Common Stock
that occur after the date of this Agreement. The English version of this Agreement, regardless of whether a translation in any
other language is or will be made, shall be the only authentic version.

 

    10 

     

    

 

5.16            
WAIVER OF JURY TRIAL. IN ANY ACTION, SUIT, OR PROCEEDING IN ANY JURISDICTION BROUGHT BY ANY PARTY AGAINST ANY
OTHER PARTY, THE PARTIES EACH KNOWINGLY AND INTENTIONALLY, TO THE GREATEST EXTENT PERMITTED BY APPLICABLE LAW, HEREBY ABSOLUTELY,
UNCONDITIONALLY, IRREVOCABLY AND EXPRESSLY WAIVES FOREVER TRIAL BY JURY. 

 

(Signature Pages Follow)

 

    11 

     

    

 

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

 

 

	
        COMPANY

         

        SGOCO Group, Ltd.

         

        Address for Notice:

        Room 1301, 13/F, Golden Centre, 188 Des Voeux Road Central,
        Hong Kong

        Email:ir@sgoco.com

         

         
	 
	
        By:  __________________________________________

        Name:

        Title:

        
	 

 

PURCHASER

 

Mr. CHAN Kei Hoong

 

Address for Notice:

25A Block 42, Cityone, Shatin, N.T

Email:keihoongchan@gmail.com

 

 

By:  __________________________________________

Name:

 

    12

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