Company: NCEL
Filing Date: 2025-10-24
Form Type: POS AM
Source: 0001213900-25-102149
Chunk: 42

Company: NewcelX Ltd.
Filing Date: 2025-10-24
Form: POS AM
Chunk 42
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 and the articles of association have been deducted. The
general meeting may also resolve to pay an interim dividend based on an interim account. The external auditor must review the interim
account before the general meeting passes the resolution. The provisions governing dividends apply.

Under our articles of association
and in accordance with Swiss law, only our shareholders have the power to approve the payment of any dividends.

Distributable reserves are
generally booked either as “free reserves” (freie Reserven) or as “reserve from capital contributions” (Reserven
aus Kapitaleinlagen). Under the CO, 5% of the annual profit shall be assigned to the statutory retained earnings (gesetzliche Gewinnreserve).
The statutory retained earnings (gesetzliche Gewinnreserve) shall be increased until, when taken together with the statutory capital
reserve (gesetzliche Kapitalreserve), they reach one half of the share capital specified in the commercial register. The CO permits us
to accrue additional general reserves. Further, a purchase of our own shares (whether by us or a subsidiary) reduces the distributable
reserves in an amount corresponding to the purchase price of such own shares. Finally, the CO, under certain circumstances, requires
the creation of revaluation reserves which are not distributable.

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Distributions out of issued
share capital (i.e. the aggregate nominal value of our issued shares) are not allowed and may be made only by way of a share capital reduction.
Such a capital reduction requires a resolution passed by an absolute majority of the shares represented at a general meeting of shareholders.
The resolution of the shareholders must be recorded in a public deed and a special audit report must confirm that claims of our creditors
remain fully covered despite the reduction in the share capital recorded in the commercial register. The share capital may be reduced
below CHF 100,000 only if and to the extent that at the same time the statutory minimum share capital of CHF 100,000 is reestablished
by sufficient new fully paid-up capital.

If the share capital is reduced,
then the board of directors shall notify the creditors that they may request security by registering their claims. The notice must be
published in the Swiss Official Gazette of Commerce. Applications to register claims must be made in writing, specifying the amount of
and legal grounds for the claim. The Company must secure the creditors’ claims to the extent that the previous cover has been reduced
by the capital reduction, provided