Company: KOYNU
Filing Date: 2025-05-15
Form Type: DRS
Source: 0001829126-25-003675
Chunk: 303

Company: CSLM Digital Asset Acquisition Corp III, Ltd
Filing Date: 2025-05-15
Form: DRS
Chunk 303
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 While a dissenting shareholder would have the
right to express to the court the view that the transaction should not be approved,
the court can be expected to approve the arrangement if it satisfies itself that:

| ● | we are not proposing to act illegally or beyond the scope of our corporate authority 
 and the statutory provisions as to majority vote have been complied with;            |
| ● | the shareholders have been fairly represented at the meeting in question;            |
| ● | the arrangement is such as a businessman would reasonably approve; and               |
| ● | the arrangement is not one that would more properly be sanctioned under some other   
 provision of the Companies Law or that would amount to a “fraud on the minority.”    |

If a scheme of arrangement or takeover offer (as described below) is approved, any
dissenting shareholder would have no rights comparable to dissenters’ rights or appraisal rights (providing rights to receive payment in cash for the judicially
determined value of the shares), which would otherwise ordinarily be available to
dissenting shareholders of United States corporations.

Squeeze-out Provisions.When a takeover offer is made and accepted by holders of 90% in value of the shares
to whom the offer relates within four months, the offeror may, within a two-month
period after the expiration of the initial four-month period, require the holders
of the remaining shares to transfer such shares on the terms of the offer. An objection
can be made to the Grand Court of the Cayman Islands, but this is unlikely to succeed
unless there is evidence of fraud, bad faith, collusion or inequitable treatment of
the shareholders.

Further, transactions similar to a merger, reconstruction and/or an amalgamation may
in some circumstances be achieved through means other than these statutory provisions,
such as a share capital exchange, asset acquisition or control, or through contractual
arrangements of an operating business.

Shareholders’ Suits.Forbes Hare, our Cayman Islands legal counsel, is not aware of any reported class
action having been brought in a Cayman Islands court. Derivative actions have been
brought in the Cayman Islands courts, and the Cayman Islands courts have confirmed
the availability of such actions. In most cases, we will be the proper plaintiff in
any claim based on a breach of duty owed to us, and a claim against (for example)
our officers or directors usually may not be brought by a shareholder. However, based
both on Cayman Islands authorities