Company: OSRH
Filing Date: 2025-01-24
Form Type: S-4/A
Source: 0001213900-25-006139
Chunk: 370

Company: OSR Holdings, Inc.
Filing Date: 2025-01-24
Form: S-4/A
Chunk 370
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 directors. Proposal No. 3D: Eliminate Limitations on the Corporate Opportunity Doctrine Description of Amendment The Current Charter includes language to the effect that the “corporate opportunity” doctrine or any other analogous doctrine shall not apply with respect to BLAC or any of its officers or directors in circumstances where the application of such doctrine would conflict with the fiduciary duties or contractual obligations they may have as of the date of the Current Charter or in the future. This amendment would remove this provision that waives the “corporate opportunity” doctrine or any other analogous doctrine. Reasons for the Amendment The BLAC Board believes that it is desirable to amend the Current Charter to remove certain limitations on the corporate opportunity doctrine so that officers and directors will have a duty to communicate or present corporate opportunities belonging to New OSR Holdings to New OSR Holdings, not have the right to either hold any such corporate opportunity for their (and their affiliates’) own account and benefit where not permitted by Delaware common law or to recommend, assign or otherwise transfer such corporate opportunity to persons other than New OSR Holdings where not permitted by Delaware common law, and may be prohibited from operating or investing in certain competing businesses without presenting it to New OSR Holdings first. Proposal No. 3E: Reduce the Quorum Requirement for Stockholder Meetings Description of Amendment Under the Current Bylaws, a quorum will be present at a meeting of stockholders if one or more stockholders who together hold not less than a majority of the issued and outstanding shares of BLAC Common Stock entitled to vote at a meeting are represented at such meeting. Under the Amended Bylaws, a quorum will be present at a meeting of stockholders if the holders of one -thirdin voting power of the then outstanding shares of capital stock of New OSR Holdings entitled to vote at the meeting are represented as such meeting. Reason for the Amendment The BLAC Board believes it is important to reduce the requisite quorum for a meeting of stockholders from a majority to one -thirdof the shares entitled to vote at such meeting so that New OSR Holdings stockholders have the ability to hold meetings when a minority of the New OSR Holdings stockholders are present. Proposal No. 3F: Removal of SPAC Provisions Description of Amendment The Current Charter contains various provisions applicable only to blank check companies. The Amended Charter removes those provisions applicable only to special purpose acquisition companies that will no longer be applicable after the consummation of the Business Combination. Reasons for the Amendment The BLAC Board believes the amendment