Company: ZDAN
Filing Date: 2025-06-30
Form Type: F-1
Source: 0001683168-25-004840
Chunk: 235

Company: Zerolimit Technology Holding Co. Ltd.
Filing Date: 2025-06-30
Form: F-1
Chunk 235
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 entitled to vote are owned by the parent company.

The consent of each holder
of a fixed or floating security interest over a constituent company is required unless this requirement is waived by a court in the Cayman
Islands.

Except in certain limited
circumstances, a dissenting shareholder of a Cayman constituent company is entitled to payment of the fair value of his shares upon dissenting
from a merger or consolidation. The exercise of such dissenter rights will preclude the exercise by the dissenting shareholder of any
other rights to which he or she might otherwise be entitled by virtue of holding shares, save for the right to seek relief on the grounds
that the merger or consolidation is void or unlawful.

In addition, there are also
statutory provisions that facilitate the reconstruction and amalgamation of companies provided that the arrangement is approved by (i)
seventy-five percent (75%) in value of the shareholders or class of shareholders or (ii) a majority in number representing seventy-five
percent (75%) in value of creditors, as the case may be, that are present and voting either in person or by proxy at a meeting, or meetings,
convened for that purpose. The convening of the meetings and subsequently the arrangement must be sanctioned by the Grand Court of the
Cayman Islands.

| 146 |

While a dissenting shareholder
has the right to express to the court the view that the transaction ought not to be approved, the court can be expected to approve the
arrangement if it determines that:

| · | the statutory provisions as to the required majority vote have been       
 met;                                                                      |
| · | the shareholders have been fairly represented at the meeting in question; |
| · | the arrangement is such that may be reasonably approved by an intelligent 
 and honest man of that class acting in respect of his interest; and       |
| · | the arrangement is not one that would more properly be sanctioned under   
 some other provision of the Companies Act.                                |

The Companies Act also contains
a statutory power of compulsory acquisition which may facilitate the “squeeze out” of dissentient minority shareholder upon
a tender offer. When a tender offer is made and accepted by holders of 90% of the shares affected within four months, the offeror
may, within a two-month period commencing on the expiration of such four month period, give notice in the prescribed manner to any dissenting
shareholders to require them to transfer such shares to the offeror on the terms of the offer, unless an