Company: SCAG
Filing Date: 2025-11-12
Form Type: 20-F
Source: 0001213900-25-109190
Chunk: 147

Company: Scage Future
Filing Date: 2025-11-12
Form: 20-F
Item: Item 10
Chunk 147
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even if the minimum holding period has been met. We will not constitute a qualified foreign corporation for purposes of these rules if
it is a PFIC for the taxable year in which it pays a dividend or for the preceding taxable year. See discussion below under “ - Passive
Foreign Investment Company Rules.” U. S. holders should consult their tax advisors regarding the availability of the lower
rate for dividends paid with respect to Company ADSs.

Subject to certain exceptions,
dividends on Company ADSs will generally constitute foreign source income for foreign tax credit limitation purposes. If such dividends
are qualified dividend income (as discussed above), the amount of the dividend taken into account for purposes of calculating the foreign
tax credit limitation will be limited to the gross amount of the dividend, multiplied by a fraction, the numerator of which is the reduced
rate applicable to qualified dividend income and the denominator of which is the highest rate of tax normally applicable to dividends.
The limitation on foreign taxes eligible for credit is calculated separately with respect to specific classes of income. For this purpose,
dividends distributed by us with respect to the Company ADSs generally will constitute “passive category income” but could,
in the case of certain U. S. holders, constitute “general category income.”

Sale, Exchange or Other Taxable Disposition
of Company ADSs and Assumed Warrants

This section is subject to
further discussion under “ - Passive Foreign Investment Company Rules,” below.

A U. S. holder generally
would recognize gain or loss on any sale, exchange or other taxable disposition of Company ADSs or Assumed Warrants in an amount equal
to the difference between (i) the amount realized on the disposition and (ii) such U. S. holder’s adjusted tax basis
in such Company ADSs or such Assumed Warrants, as applicable. Any gain or loss recognized by a U. S. holder on a taxable disposition
of Company ADSs or Assumed Warrants generally will be capital gain or loss. A non-corporate U. S. holder, including an individual,
who has held the Company ADSs or Assumed Warrants for more than one year generally will be eligible for reduced tax rates for such long-term capital
gains. The deductibility of capital losses is subject to limitations. Any such gain or loss recognized generally will be treated as U. S. source
gain or loss. In the event any non-U. S. tax (including withholding tax) is imposed upon such sale or other