Company: FVN
Filing Date: 2025-05-02
Form Type: S-4
Source: 0001829126-25-003304
Chunk: 359

Company: Future Vision II Acquisition Corp.
Filing Date: 2025-05-02
Form: S-4
Chunk 359
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 on the expiration of such 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 in the case of an offer which has been so approved unless there is evidence of fraud, bad faith or collusion.

Shareholders’ Suits

In principle, New VIWO will normally be the proper plaintiff to sue for a wrong done to it as a company and as a general rule, a derivative action may not be brought by a minority shareholder. However, based on English law authorities, which would in all likelihood be of persuasive authority in the Cayman Islands, the Cayman Islands courts can be expected to follow and apply the common law principles (namely the rule in Foss v. Harbottle and the exceptions thereto) so that a non-controlling shareholder may be permitted to commence a class action against or derivative actions in the name of the company to challenge:

| ● | an act which is illegal or ultra vires with respect to the company and is therefore incapable of ratification by the shareholders;                                          |
| ● | an act which, although not ultra vires, requires authorization by a qualified (or special) majority (that is, more than a simple majority) which has not been obtained; and |
| ● | an act which constitutes a “fraud on the minority” where the wrongdoers are themselves in control of the company.                                                           |

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<div align='center'>SHARES ELIGIBLE FOR FUTURE SALE</div>

Business Combination Merger Consideration Shares

Future Vision will issue 9,520,250 ordinary shares of New VIWO to existing shareholders of VIWO in connection with the Business Combination. All of the ordinary shares of New VIWO issued in connection with the Business Combination are expected to be freely transferable by persons other than by New VIWO’s “affiliates” without restriction or further registration under the Securities Act, subject to any lock-up or other contractual restrictions described below. Sales of substantial amounts of the New VIWO ordinary shares in the public market could adversely affect prevailing market prices of the New VIWO ordinary shares.

Lock-Up Agreement

VIWO shareholders

VIWO Shareholders will enter into a lock up agreement with respect to the Consideration Shares to be received by the VIWO Shareholders after the consummation of the Business Combination.

The lock up agreement provides for a Company performance-based release mechanism