NOTICE TO HSAG MEMBERS: RE SETTLEMENT
The contracts for Settlement due for signing on 30 and 31 March 2017 was tendered to Mr Nic Georgiou to sign at Stellenbosch, as agreed with him.
Mr Georgiou attended the meeting but however declined to sign the agreements and indicated that he soon wants to make a more favourable offer than the current one on the table, to enable him to settle the HSAG Class Action as a whole and not only a portion thereof.
Once we have received a formal offer, we shall communicate it to you. The current offers are still on the table.
The HSAG shall in the meantime continue to pursue the claims of its members until it is resolved satisfactorily, whether via the legal route or via settlement.
31 March 2017
Theron & Partners, Stellenbosch
Document: Final Settlement Proposal (Afr/Eng) (Form C1)
Example of completed Form B and Form C
Example of completed Form C1
Voorbeeld van voltooide Vorm B en Vorm C
*AFRIKAANSE TEKS HIERONDER
IMPORTANT NOTICES:
We would like to thank everyone for their excellent and timeous cooperation in finalising their registrations and/or settlement applications, as instructed on our website. The compliance of the HSAG (existing and new) members for settlement and also to meet the deadline, was so far also very good.
THE NEXT STEPS IN THE PROCESS ARE AS FOLLOWS WITH REGARDS TO TIMEOUS SUBMISSION OF APPLICATIONS TO SETTLE:
STEP 1: Submission of Form “B”
This process was done and completed by Theron & Partners and we have now processed all Applications for Settlement (Form “B”) submitted before the deadline of 30 September 2016.
STEP 2: Verification and Confirmation of Applications to Settle
This process is done by Mr Georgiou/Orthotouch who must now verify and approve the Form B’s that was provided to him in October 2016. Mr. Georgiou assured us that he only required a day or two to verify same and we had trusted to have received his confirmation at the latest by Wednesday, 2 November 2016. However until date hereof no confirmation was forthcoming.
STEP 3: The signing of the Settlement Agreement
A blank specimen of the settlement agreement that was negotiated with Mr Georgiou/Orthotouch was published on our website prior to the deadline. Some clients completed and signed the specimen settlement agreement, but the vast majority of clients have not done so. The signing of this document after the completion of Step 2 may cause delays, which would not be in the best interest of those clients who have already signed the Settlement Agreement. Due to the number of investors who opted to settle, we have decided (also from a practical, cost and logistical point of view) to obtain a one-page document (in the form of a power of attorney – Form “C”) from all our clients, which document will enable us to sign the Settlement Agreement on behalf of a number of clients simultaneously.
KINDLY TAKE NOTE THAT our offices can only enter into a binding agreement with Mr Georgiou/Orthotouch if the Applicants for Settlement duly signed a power of attorney (Form “C”) and forward same to us before the deadline of 13:00 on 16 November 2016.
STEP 4: Completion of the settlement agreement
Once Mr Georgiou/Orthotouch has signed the Settlement Agreement the stipulations of the Deed of Settlement become effective, which amongst others, include the claiming and payment of funds by and in favour of the investors.
Monies that are received at our firm on behalf of clients as a result of the Settlement and that are paid out to them, would be subject to the requirements of the Attorneys Act, the Law Society Rules and also FICA.
Some persons who applied for settlement have not been approved by Mr Georgiou/Orthotouch. A list of these persons (with only initials and surnames) will be made available once we have received the requested list and we ask these investors to then contact us urgently at hsagsettle@gmail.com in order to confirm their detail.
The three main reasons for the rejection of the applications were duplications, non-registration or deceased estates.
A new date for the signing of the agreement is now reserved for 17 November 2016. Further dates may follow subject to the cooperation of Mr Georgiou/Orthotouch as well as the cooperation of the Applicants to Settle. We therefore require that our clients complete and sign, as a matter of priority, the attached/included “Power of Attorney to Sign a Settlement Agreement” (Form “C”) to be able to have their documents signed as planned. This document must be returned to hsagsettle@gmail.com before the third deadline of Form “C”, which is scheduled for 13:00 on Wednesday, 16 November 2016.
We trust that you will find the above in order and will keep you informed of any further developments and processes.
Please be advised accordingly.
Yours faithfully,
Theron & Partners
STELLENBOSCH
021-887 7877
*ENGLISH TEXT ABOVE
BELANGRIKE KENNISGEWINGS:
DIE STAPPE IN DIE SKIKKINGSPROSES TEN OPSIGTE VAN BETYDSE INDIENING VAN AANSOEKE TER SKIKKING IS SOOS VOLG:
STAP 1: Indiening van Vorm “B”
Hierdie proses is behartig en voltooi deur Theron & Vennote. Ons het alle aansoeke vir skikking (Vorm “B”) wat vóór die sperdatum ingedien is, reeds geprosseseer.
STAP 2: Bevestiging van Aansoeke om te Skik
Hierdie proses word behartig deur Mnr Georgiou/Orthotouch, wie tans die Vorm B’s, wat reeds in Oktober aan hom verskaf is, moet verifieër en goedkeur. Mnr Georgiou het ons verseker dat hy slegs ’n dag of twee nodig gehad het om die verifikasie van die Vorm “B’s” te voltooi. Ons het vertrou dat ons sy terugvoer ten aansien van bovermelde prosesse teen die laatste op Woensdag, 2 November 2016 kon verwag. Tot op datum is egter geen bevestiging hieroor ontvang nie
STAP 3: Die ondertekening van die Skikkingsooreenkoms
’n Blanko voorbeeld (“Specimen”) van die Skikkingsooreenkoms wat met Mnr Georgiou/Orthotouch onderhandel is, is reeds vóór die sperdatum op ons webtuiste gepubliseer. Sommige kliënte het reeds bovermelde voorbeeld Skikkingsooreenkoms voltooi en onderteken, maar die oorgrote meerderheid het nie die tersaaklike dokument onderteken nie. Ondertekening daarvan deur Mnr Georgiou/Orthotouch geskied eers nadat Stap 2 (hierbo) voltooi is. Weens die getal beleggers kan dit vertragings tot gevolg hê as ons wag totdat almal se getekende dokumente ontvang is, wat nie in die beste belang van die kliënte (wat reeds die dokument onderteken het) sal wees nie. Soos voorheen berig en weens die beduidende aantal kliënte wat aangedui het dat hulle begerig is om te skik, het ons besluit om (ook vanuit ’n praktiese, koste en logistieke oogpunt) ’n een-bladsy dokument in die vorm van ’n volmag (Vorm “C“) vanaf ons kliënte te bekom. Dit sal ons in staat stel om gelyktydig Skikkingsooreen-komste namens ’n groep kliënte te voltooi en onderteken.
NEEM ASSEBLIEF KENNIS DAT ons kantore slegs ’n bindende ooreenkoms met Mnr Georgiou/Orthotouch kan aangaan as die Aansoekers om te Skik ’n Volmag (Vorm “C”) geteken het en aan ons gestuur het voor bogenoemde sperdatum.
STAP 4: Voldoening aan die Skikkingsooreenkoms
Wanneer Mnr Georgiou/Orthotouch die Skikkingsaanbod onderteken tree die bepalings van die Skikkingsakte in werking, wat onder andere die vordering, betaling en uitbetaling van fondse deur en ten behoewe van die beleggers behels.
Gelde wat namens kliënte by ons firma in navolging van die skikking ontvang en uitbetaal word is onderhewig aan die vereistes van die Wet op Prokureurs, die Reëls van die Wetsgenootskap en ook FICA.
Enkele persone wie aansoek gedoen het om te skik was nie aanvaarbaar vir Mnr Georgiou/Orthotouch nie. ’n Lys van gemelde persone (met slegs voorletters en van) sal nog bekend gemaak word met ontvangs daarvan vanaf Mnr Georgiou/Orthotouch en sodanige beleggers word versoek om dan met ons in verbinding te tree by hsagsettle@gmail.com ten einde hul besonderhede te bevestig.
Die drie hoofredes vir die afwysing van die aansoeke om te skik was weens duplikasie, nie-registrasie en afgestorwe boedels.
’n Datum vir die ondertekening van die Skikkingsooreenkomste (soos gepubliseer) is nou vir 17 November 2016 geskeduleer. Verdere datums mag egter volg onderhewig aan Mnr Georgiou/Orthotouch se samewerking asook die samewerking van die Aansoekers om te Skik.
Derhalwe versoek ons dat ons kliënte die aangehegte/ingeslote “Volmag om Skikkingooreenkoms te Onderteken” (Vorm “C”) volledig voltooi en terugstuur aan ons kantore by hsagsettle@gmail.com vóór die verstryking van die Vorm “C“-sperdatum op Woensdag, 16 November 2016 om 13:00.
Ons vertrou u vind voormelde in orde en sal u op hoogte hou van verdere verwikkelinge en prosesse.
Vriendelike groete,
Theron & Vennote
STELLENBOSCH
021-887 7877