Company: RAYA
Filing Date: 2025-07-28
Form Type: 424B5
Source: 0001213900-25-067907
Chunk: 183

Company: Erayak Power Solution Group Inc.
Filing Date: 2025-07-28
Form: 424B5
Chunk 183
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 of the directors failing to convene
a meeting shall be reimbursed by us. Our articles provide no other right to put any proposals before annual general meetings or extraordinary
general meetings. As a Cayman Islands exempted company, we are not obligated by law to call shareholders’ annual general meetings.
However, our corporate governance guidelines require us to call such meetings every year.

Cumulative Voting

Under the Delaware General Corporation Law, cumulative
voting for elections of directors is not permitted unless the corporation’s certificate of incorporation specifically provides for
it. Cumulative voting potentially facilitates the representation of minority shareholders on a board of directors since it permits the
minority shareholder to cast all the votes to which the shareholder is entitled on a single director, which increases the shareholder’s
voting power with respect to electing such director. As permitted under the Cayman Islands Companies Act, our articles do not provide
for cumulative voting. As a result, our shareholders are not afforded any less protections or rights on this issue than shareholders of
a Delaware corporation.

Removal of Directors

Under the Delaware General Corporation Law, a
director of a corporation with a classified board may be removed only for cause with the approval of a majority of the outstanding shares
entitled to vote, unless the certificate of incorporation provides otherwise. Subject to the provisions of our articles (which include
the removal of a director by ordinary resolution), the office of a director shall be vacated if (a) he gives notice in writing to us that
he resigns the office of director, (b) he absents himself (without being represented by an alternate director appointed by him) from three
consecutive meetings of the board of directors without special leave of absence from the directors, and they pass a resolution that he
has by reason of such absence vacated office, (c) he dies, becomes bankrupt or makes any arrangement or composition with his creditors
generally, (d) he is found to be or becomes of unsound mind, or (e) all the other directors (being not less than two in number) resolve
that he should be removed as a director.

Transactions with Interested Shareholders

The Delaware General Corporation Law contains
a business combination statute applicable to Delaware public corporations whereby, unless the corporation has specifically elected not
to be governed by such statute by amendment to its certificate of incorporation or bylaws that its shareholders approve, it is prohibited
from engaging in certain business combinations with an “interested shareholder” for three years following the date that such