Company: KOYNU
Filing Date: 2025-07-31
Form Type: S-1/A
Source: 0001829126-25-005627
Chunk: 331

Company: CSLM Digital Asset Acquisition Corp III, Ltd
Filing Date: 2025-07-31
Form: S-1/A
Chunk 331
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 the constituent company. Upon the giving of a notice of dissent
under paragraph (iii) above, the shareholder to whom the notice relates shall cease to have any of the rights of a shareholder except
the right to be paid the fair value of that person’s shares and certain rights specified in the Companies Act. These rights of
a dissenting shareholder are not available in certain circumstances, for example, to dissenting shareholders holding shares of any class
in respect of which an open market exists on a recognized stock exchange or recognized interdealer quotation system at the relevant date,
where the consideration for such shares to be contributed are shares of any company listed on a national securities exchange or shares
of the surviving or consolidated company.

Moreover, Cayman Islands law
has separate statutory provisions that facilitate the reconstruction or amalgamation of companies in certain circumstances, commonly
referred to in the Cayman Islands as a “scheme of arrangement,” which may be tantamount to a merger. Schemes of arrangement
will generally be more suited for complex mergers or other transactions involving widely held companies. In the event that a merger was
sought pursuant to a scheme of arrangement (the procedures for which are more rigorous and take longer to complete than the procedures
typically required to consummate a merger in the United States), the arrangement in question must be approved (i) in relation to a compromise
or arrangement between a company and its creditors or any class of them, a majority in number of such creditors or class of creditors
with whom the arrangement is to be made and who must in addition represent 75% in value of such creditors or class of creditors, as the
case may be, that are present and voting either in person or by proxy at a meeting summoned for that purpose; and (ii) in relation to
a compromise or arrangement between a company and its shareholders or any class of them, shareholders who represent 75% in value of the
company’s shareholders or class of shareholders, as the case may be, that are present and voting either in person or by proxy at
a meeting summoned for that purpose. The convening of the meetings and subsequently the terms of the arrangement must be sanctioned by
the Grand Court of the Cayman Islands. 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